Pennrose commences building project at The Commons at Springdale in Cherry Hill, NJ
CHERRY HILL, NJ — Pennrose, one of the leaders in multifamily development and management, and the Jewish Federation of Southern New Jersey were joined by city and local officials to celebrate the commencement of the building project at The Commons at Springdale in Cherry Hill. Located at 1721 Springdale Rd., the project will include 160 new units of high-quality, affordable rental housing for older adults and adults with special needs. Construction will begin with an initial 80 rental units. Twenty% of the total units will be designed to support individuals with special needs by creating four smaller “cottages” out of four 1-bedroom units. The cottages will contain a shared common space where individuals can receive access to services and community programming in a safe setting. All units will be set at or below 60% of the area median income (AMI), with at least 40% set at or below 50% of AMI and at least 10% set at or below 30% of AMI. Phase one of the project is anticipated to open in the summer of 2019.