INGERMAN COMMENCES CONSTRUCTION OF NEW AFFORDABLE APARTMENT COMMUNITY IN NEWARK, DELAWARE
Ingerman, a leading developer, manager and builder of multi-family apartment communities, today announced that it has commenced construction of Alder Creek, a new community of 56 affordable apartment homes located in Newark, Del.
Alder Creek will transform what is currently a vacant public housing property into a brand new residential community to meet the strong demand for high-quality affordable rental housing in the area. Ingerman is currently working with the Newark Housing Authority to demolish all existing buildings on the site to pave the way for construction of the new apartments.
“We are extremely proud to be taking what is currently an underutilized property to create brand new affordable housing options for the Newark community,” commented Brad Ingerman, CEO of Ingerman. “With on-site amenities and services tailored to the needs of residents, Alder Creek promises to be a continuation of our more than 20-year track record delivering high-quality residential communities throughout the Mid-Atlantic region.”
Alder Creek’s 56 energy-efficient apartment homes will be housed in 13 newly constructed, two-story buildings, and will feature a mix of one-, two-, three- and four-bedroom home designs. Each residence will have a private entrance, front porch, rear balcony or patio, and ample parking. The buildings will be situated to create a large community green that will allow for active and passive recreational opportunities.
A large community building will be constructed to house the community’s leasing office, meeting room, laundry facilities, a fitness center, maintenance space and an after-school care center, supported by full-time, on-site maintenance and management staff. A large playground will be created for families with children, and a comprehensive services program will be established, complete with a part-time coordinator, to bring in outside service providers.
“Working collaboratively with the Newark Housing Authority, we are extremely pleased to be taking the next step in creating a new residential development that will provide an attractive family housing opportunity in a market dominated by demand from students at the University of Delaware,” stated David Holden, Development Principal with Ingerman. “There is an incredible need in the Newark market for quality affordable housing options, and Alder Creek will play an important role in helping to fill that demand.”
Funding sources for Alder Creek include the Delaware State Housing Authority, the Delaware Department of Natural Resources and Environmental Control, and Capital One Bank.
About Ingerman
For more than two decades, Ingerman has been developing, building and managing award-winning multi-family communities throughout the Mid-Atlantic region. Founded in 1988, the Company has developed 85 communities consisting of more than 6,700 residential units with total development costs in excess of $1 billion.
The Company’s seasoned team of real estate and construction professionals utilizes state-of-the-art architectural design, cutting-edge, environmentally conscious construction and an array of modern amenities in the development of each community. Through a commitment to responsible development practices, Ingerman works to enhance the sustainability of its communities with several green initiatives.
For more information, visit www.ingerman.com or call 856-662-1730, Ext. 100.
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