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Cherry Hill developer moving forward on four affordable housing projects

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    A Cherry Hill-based developer is moving ahead with four new affordable housing projects totaling more than 270 units in southern and central New Jersey, the firm announced.

    The company, Ingerman, is building the rental apartments with the help of more than $22 million in federal grants and tax credits, the developer said this week. The largest project is in Ocean Township, where the firm will add 76 age-restricted units to an existing retail development known as Waretown Town Center.

    The other three projects are slated for Perth Amboy, Woodbridge and Burlington City, totaling 70, 62 and 65 units, respectively, according to a news release. Both the Perth Amboy and Burlington plans will anchor larger redevelopment projects, with the latter calling for a rehabilitation of an existing mill and industrial area.

    All told, Ingerman is receiving $18.65 million Community Development Block Grant funds and $3.5 million in tax credits for the four projects, the news release said.

    The firm also said it recently has completed other projects in Woodbridge and Perth Amboy.

    The 25-year-old developer, led by CEO Brad Ingerman, has been especially active in recent years in its home region of South Jersey. The projects include rebooting and completing the long-delayed LumberYards project in Collingswood.

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    Joshua Burd

    Joshua Burd

    Josh Burd covers real estate, economic development and sports and entertainment. Before joining NJBIZ in 2011, he spent four years as a metro reporter in Central Jersey. His email is joshb@njbiz.com and he is @JoshBurdNJ on Twitter.

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