4 Buildings, 2.5 Stories Each
Seventy-One (71) 1 & 2 bedroom units
25% Lot Coverage
143 Parking Spaces

The Challenge
The subject property provided a unique challenge in that it required a developer to design and implement an adaptive reuse program to redevelop an obsolete and deteriorating industrial property that had remained dormant for over 10 years.

The Solution
J.G. Petrucci Co., Inc. (JGPCO) designed - and obtained the required municipal and state approvals for - a 71-unit luxury apartment home complex.

The Benefit
JGPCO is able to deliver to the suburban Essex County residential rental market an attractive apartment complex located 9 miles from the Lincoln Tunnel.  Riverview Court provides a unique real estate investment opportunity in that the property is located in a constrained and undersupplied market. In addition to the supply-demand economic benefits, the property also provides a significant advantage from a marketing and renting standpoint in that it offers residents a modern style rental unit in a market consisting mostly of older and outdated units.

The Challenge
The subject property, when acquired, consisted of an approximately 142,000 sq. ft.  obsolete and deteriorating industrial facility. Redevelopment proved challenging in that the highest and best use for the property consisted of rezoning the site for a mixed use residential and retail development.

The Solution
J.G. Petrucci Co., Inc. (JGPCO) and its development team worked closely with state and municipal agencies to rezone the property as a Transit Oriented Development (TOD) including a 230-unit garden style apartment complex and 25,000 sq. ft. of retail space.

The Benefit
JGPCO has created significant economic and civic value for the subject property and the township by rezoning the property as a TOD.  From an economic perspective, the property, affords a significant investment opportunity in that it 1) offers a high density, 230 residential rental unit complex located adjacent to a SEPTA Commuter Rail Station and 2) provides 25,000 sq. ft. of retail located in an undersupplied, dense residential area.

From a civic perspective, the property provides on-site residents with easy access to the SEPTA commuter rail line, minimizing commute times as well as traffic congestion in the area. Furthermore the property provides much needed retail to support the surrounding residential neighborhoods.