TRENTON, NJ – Greater Trenton, an independent 501c-3 nonprofit organization dedicated to promoting economic revitalization in New Jersey’s capital city, released a Downtown Trenton residential market study, in conjunction with the Trenton Parking Authority, to determine the market potential and optimum market position for newly-introduced housing units in Downtown Trenton. The study reveals a strong demand for up to 760 housing units in Downtown Trenton over the next 5 years with younger singles and couples representing the largest share of that market at 68 percent.

“We’re excited about Trenton’s growing residential market demand, which will help fuel economic activity throughout the city,” said Trenton Mayor Eric Jackson. “More residential and mixed-use development will enhance Downtown Trentonas a sought-after living destination as well as a premier state capitol and a business destination.”

The study was conducted by Zimmerman/Volk Associates, Inc., which has a national reputation for innovative market analysis based on its proprietary target market methodology. According to the study, demand for up to 600 of the 760 units in Downtown Trenton includes apartment rentals, with the remaining housing mix including for-sale condominiums and rowhouses/townhomes.

“We remain dedicated to the development of Downtown Trenton, particularly to serving the community’s increasingly vital parking needs,” said Andrew Worek, Chairman of the Trenton Parking Authority. “We will do everything we can to promote commerce, support economic renewal, and ensure that Downtown Trenton development is successful.”

“Combining Trenton’s affordability and multi-modal transit orientation with its quality of life assets in Downtown Trentonincluding its riveting history and historic buildings, vibrant arts community, landmark museums, parks, upcoming neighborhoods and more, it’s no wonder why there’s a growing demand for housing here,” said George Sowa, Founding CEO of Greater Trenton. “But, to maximize Trenton’s residential market, it will be vital to focus on developing higher-density housing types while also redeveloping existing buildings in Downtown Trenton.”

“The fact that nearly 50 percent of younger singles and couples are projected to go to Downtown Trenton from areas outside of Mercer County, speaks volumes about the City’s appeal to a population of Millennials, said Mercer County Executive Brian M. Hughes. “In addition to the historic attractions in Trenton, numerous nearby Mercer Countyattractions including Grounds for Sculpture, Princeton University Art Museum, Washington Crossing Historic Park and many others, enhance the attractiveness of residential living in Downtown Trenton.”

To access a full copy of this study, please visit: www.greatertrenton.org

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OAKLAND, CA – Wood Partners, a national leader in real estate development and acquisition, announced the closed acquisition and start of construction of Alta Woodson in Downtown Oakland.

The 140-unit community is Wood Partners’ fourth property in Oakland.  Alta Woodson is located at 625 15th Street, in the heart of Downtown, near City Hall and the burgeoning restaurants, arts, and nightlife of Uptown.

“Alta Woodson is a perfect opportunity to bring another transit-oriented community to vibrant downtown Oakland,” said Brian Pianca, Development Director for Wood Partners. “Wood Partners believes strongly in the Oakland market, which started with our Domain development in 2009 and continues today.”

With seven tales of studio, one and two bedroom floorplans, and an average unit size of 670 square feet, Alta Woodsonis expected to be an attractive option for urban-minded, mobile professionals. The community will feature a communal lounge, gym with a yoga room, a bike shop and a rooftop deck.

Wood Partners started construction of Alta Woodson in early January and is expected to be completed in the fall of 2019. 

Wood Partners is a national real estate development company that buys, develops, constructs and property manages high density and mixed-use communities. It ranks consistently among the top five multifamily developers in the country.  The company currently owns 70 properties with a combined total of 20,000 units. Wood Partners has offices in 17 major markets nationwide.

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TARPON SPRINGS, FL – The Tarpon Springs Housing Authority and Pinnacle Housing Group will hold a ribbon cutting for The Villages at Tarpon, a new affordable rental housing option for seniors 55 and older.

The community was originally built in the 1970s as public housing and has been completely renovated through a partnership with the TSHA and Pinnacle, resulting in 95 one- and two-bedroom units.

“It is vital to live in a place that you are proud to call your home,” said Robbin Sotelo Redd, TSHA executive director. “TSHA and Pinnacle have shown their commitment to being agents of positive change for the residents of Tarpon Springs.”

The renovated apartments are enhanced with features including porcelain tile, granite countertops, modern cabinetry and private entrances.  Residents are also provided state-of-the-art amenities including a business center, multiple clubhouses and numerous resident activity programs.

“The transformation of obsolete public housing into modern, energy efficient homes is very gratifying.  Pinnacle Housing Group is proud to provide our experience and leadership in the full rehabilitation of the project,” stated David O. Deutch, partner, Pinnacle Housing Group.

Villages’ resident Bruce Miller, 62, has lived in both the ancient and new complexes. “The apartment was basic and very ancient,” he said. “I am amazed at how gorgeous the new apartment is with built-in appliances and wood-tone ceramic flooring; it’s really a high-end apartment now,” he said.  “And the clubhouse has been fully furnished with computers and a flat screen television.”

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