NORTH BRUNSWICK CRESCENT
North Brunswick, NJ
Former Oak Leaf Village Apartments
(Photo Credit: Home News Tribune)
North Brunswick Crescent Apartments
North Brunswick Crescent includes the redevelopment of a market-rate rental apartment housing site (previously known as
Oak Leaf Village Apartments) into 184 affordable family rental apartments. The 16.21 acre property was originally constructed in the early 1970s and consisted of 16 two-story residential apartment buildings. CIS acquired the property in March 2012 out of receivership and began a two-phase redevelopment initiative.
The redevelopment involves the substantial rehabilitation of all 16 buildings including new roofs, all new exteriors and interiors, new windows, doors, insulation, upgraded electrical and plumbing systems, new fixtures and appliances, the addition of central heating, air-conditioning and individual hot water heaters, as well as the restoration of hardwood floors. Demolition of obsolete structures on site, as well the elimination of public access to basements and crawl spaces were completed. New construction of a 2000 square foot clubhouse building featuring a beautiful community room, kitchen/catering area, as well as office and storage areas for management and maintenance.
Site improvements were greatly improved including the addition of landscaping and a tot lot, storm water management improvements, repair/replacement of water and sewer service lines, pavement and sidewalk repairs, walkways, and the installment of new handicap access areas and parking. Each apartment is ENERGY STAR® certified and now boasts modern amenities including private entryways, spacious layouts, washer/dryer hookups, brand new appliances, and ample off-street parking. The 184 apartments include 138 one-bedrooms and 46 two-bedrooms. These totals include 8 two-story additions to buildings throughout the site to create 16 additional bedrooms and increase the number of two bedroom apartments. Apartments range in size from 725 square feet to 1300 square feet.
The Township of North Brunswick was a crucial partner in the redevelopment providing funding, as well as support. The redevelopment of the Oak Leaf Village market rate apartment housing site helps to address a locally identified need for affordable housing and North Brunswick’s affordable housing
obligations pursuant to the New Jersey Fair Housing Act, as well as addressing additional rental demand. Of the 184 apartments, 6 are rented at the 30% of median income level, 60 at the 50% of the median income level and 117 at the 60% of median income level. One apartment is reserved for a superintendent. 5% of the apartment-homes are fully handicap accessible and another 2% are designed for the hearing and visually impaired. In addition, during the lease up, preference was given to homeless and veterans applicants.
The redevelopment has greatly improved the quality of housing and quality of life for the residents and adds 183 affordable deed restricted units to the rental market. The development of the site as affordable family housing is also consistent with the goals of the Township Master Plan and serves to improve the overall neighborhood stability, and will provide much needed rental apartments for low and moderate income citizens in the Township.
Rehabilitation / New Construction
184 Affordable Rental Units
Ownership: CIS Owned and Managed
Reopened in 2017
Total Investment: $31.6M
Development Partners and Funding Sources:
LIHTC Equity syndicated by Boston Capital, NJHMFA Financing, North Brunswick Township Affordable Trust Funds, Seller Financing, Developer Equity