Mid Atlantic Real Estate Journal
“Conifer LLC of Mt. Laurel, the developer of the new Rittenberg Manor senior community has received a temporary certificate of occupancy and plans to start moving residents into the facility over the next few weeks.
On Saturday, March 14, 2015 Egg Harbor City Council president Ed Dennis and several other local officials toured the newly constructed Rittenberg Manor senior community with Conifer’s vice president of development, Sam Leone. The 100-unit affordable senior housing project, located at 528 Philadelphia Ave., is a joint venture between Conifer Realty, LLC and Moorestown Ecumenical Development, Inc. (“MEND”).
According to Leone, “We are really proud of our progress here. We broke ground on May 12, 2014 and in less than a year; we are getting ready to fill the building with residents. The final touches are being done to complete all 100 units and we have begun the leasing process.
Conifer has opened a temporary leasing office down the street from the site at 129 Philadelphia Ave.
In 2010, Egg Harbor City approved a redevelopment plan for the Rittenberg School Rehabilitation District which called for the construction of rental housing for senior citizens. The site of the new Rittenberg Senior Complex is the former site of the historic Rittenberg School which was demolished prior to construction and was the only vacant site in the redevelopment area.
Ed Dennis said, “Egg Harbor City is a quaint home town community and the Rittenberg Manor project fits right in. Conifer really captured the essence of the town and the redevelopment plan. The building is outstanding and literally fills a void in our downtown.”
Mayor Jiampetti said, “When the redevelopment plan was created in 2010 it was just that a plan. We didn’t have investors. Conifer came in and believed in our vision and took that vision to the next level helping us to cleverly leveraging funding to create a win-win for everyone especially the seniors who will have the opportunity to live in such a wonderful complex.”
The Rittenberg Manor features 84 one-bedroom units and 16 two-bedroom units. Each apartment will have a full kitchen, living and dining area, full bath, generous bedroom(s) and ample closet space. Each unit has Energy Star rated appliances with frost-free refrigerator, electric oven and range hood and plenty of cabinet space. They have energy efficient heating and cooling systems that meet the Energy Star Program requirements and each unit will have a patio or a balcony for private outdoor space. A community garden and a gazebo area are among the exterior resident amenities.
The project is funded with a construction loan from JP Morgan Chase Bank, Community Development Block Grant-Disaster Recovery funds, a permanent loan from New Jersey Housing and Mortgage Finance Agency and equity from the sale of Low Income Housing Tax Credits through First Sterling.”