Looking Back on our First Quarter

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As the first quarter comes to a close, we are so pleased to have introduced, rebranded and began construction on many new affordable housing communities throughout New Jersey, bringing much needed affordable housing to residents.

In February, we held a ribbon cutting ceremony to officially unveil the renovations and rebranding of Heritage Village at Ocean, previously known as Whalepond Village, in Ocean Township. In an area affected by Superstorm Sandy, this 96-apartment, affordable senior housing community underwent extensive exterior renovations, including replacement of roofs, new siding, new shutters and the installation of gas powered back-up generators. Apartment interiors were also refurbished with new kitchen counters, energy efficient appliances, kitchen and bathroom flooring and vanities. We are pleased to reintroduce Heritage Village at Ocean as a high-quality, affordable housing options for seniors to call home.

We celebrated another ribbon cutting at the beginning of March for Heritage Village at Bloomfield, an affordable 82-apartment home, 55-plus housing community in Bloomfield.  In addition, we began construction on Bayshore Village, a 110-apartment home community for adults 62-plus in Middletown.  Both of these communities are built with resiliency in mind to protect our residents. Superstorm Sandy taught us our communities need to be built stronger to withstand weather-related events, so these communities have high quality, cement board exteriors, LED lighting, emergency generators, a ground level bathroom and shower that can be accessible during a power loss and an energy efficient ventilation system. We took great care in making these communities an affordable and exciting place to live, while preparing for the worst so our residents can feel safe in the event of an emergency.

We have also received two awards recognizing our business for our contributions to our industry. At the beginning of this year, CIS was named a 2015 Business of the Year by NJBIZ to celebrate our commitment to business growth, professional excellence and the community.  In May, Affordable Housing Finance recognized us as one of the Top 50 Affordable Housing Developers in the nation for the third time.  We are thrilled to be recognized for our contributions to both the State of New Jersey and the affordable housing industry.

As we begin the next quarter, we are looking forward to continuing this momentum.  We are finishing up construction on Heritage Village at Oakhurst, a 93-apartment home community that has already begun preleasing.  In Elizabeth, we are demolishing two 5-story obsolete buildings to make way for 96-town-over-flat apartments of affordable housing.

We are excited to share with you all the new developments we have coming in 2016!

by CIS