THE RENNAISSANCE VILLAGE

Affordable Housing Development

 

LOCATION: ASBURY PARK, NJ

CLIENT: THE MICHAELS ORGANIZATION

MARKET SECTOR: REAL ESTATE

SIZE: 4-STORIES, 64 APARTMENTS, 1,200 sf RETAIL SPACE

 

The Opportunity

Asbury Park, NJ has poverty and unemployment levels above average compared to the rest of Monmouth County, making the creation of a new affordable housing development a welcoming addition. In a city that has lost so much to Superstorm Sandy, which made living circumstances worse for some inhabitants an opportunity to live in new construction while few developments can accept new applications for tenants a great addition to the community. This construction replaces not only vacant buildings located on the site but also sparks future development in the neighborhood to further provide more amenities and opportunities to Asbury Park.

The Challenge

Asbury Park, NJ has poverty and unemployment levels above average compared to the rest of Monmouth County, making the creation of a new affordable housing development a welcoming addition. In a city that has lost so much to Superstorm Sandy, which made living circumstances worse for some inhabitants an opportunity to live in new construction while few developments can accept new applications for tenants a great addition to the community. This construction replaces not only vacant buildings located on the site but also sparks future development in the neighborhood to further provide more amenities and opportunities to Asbury Park.

The PS&S Solution

The site is ADA accessible, and the developments are conveniently located near the transportation hub of Asbury Park, which includes both rail and bus options. Parking is available throughout the development to provide convenience to one’s place of stay. Bicycle racks and a pleasant streetscape that was enjoyable to walk along were essential to the development to encourage movement in the area besides using a car.

This project’s success has been an example of how a vacant site in a city threatened by future extreme weather conditions can create new housing that is affordable, inclusive, and an enjoyable streetscape for other community members to enjoy. The collaboration between the community, the developer, local and state officials led to the success of this revitalization project for the Springwood Avenue corridor on three vacant lots.