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Ingerman has been building award-winning affordable housing in the Mid-Atlantic region for over two decades. With our seasoned team of real estate and construction professionals, Ingerman provides a high quality of life for our residents.

We utilize state-of-the-art architechtural design, cost effective and efficient construction, and an array of modern amenities in the development of each of our communities.

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Corporate Information

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


Ingerman has been building award winning housing in the Mid-Atlantic region for over two decades. With over 5,000 units completed, our seasoned team of real estate and construction professionals provides a high quality of life for our residents. We utilize state-of-the-art architectural design, cost effective and efficient construction, and an array of modern amenities in the development of each of our communities.

Since its inception in 1982, Ingerman, which is comprised of a family of interrelated companies including MBI Development Company, Ingerman Construction Company, and Ingerman Management Company, has developed, built and manages numerous market-rate rental communities, several for-sale residential projects, and thousands of units of affordable rental housing. Founded upon the central goal of delivering housing unparalleled quality through hard work, strategic planning and attention to detail, Ingerman has expanded rapidly.  We are now one of the fastest growing real estate developers in the Mid-Atlantic region.

Affordable Housing Development

Ingerman was established in 1982 to own and manage affordable rental housing.  One of our goals has always been to produce quality living environments for lower to middle income persons that are indistinguishable from comparable “market rate” properties. Ingerman communities are responsive to and supportive of residents and Ingerman helps ensure that all residents have an opportunity to reach self-sufficiency by providing them with the necessary supportive services that will sustain their progress along the path toward their goals.

Ingerman and its affiliates manage, or asset-manage, thousands of affordable rental housing units nationwide. Many of Ingerman affiliates’ affordable housing transactions prior to 1986 were developed through the HUD Section 8 Moderate Rehabilitation Program, and/or Section 221 (d)(3) or section 236 financing programs. After 1986, Brad Ingerman continued his housing activities by first creating MBI Equities Corp. (MBI), later Ingerman Affordable Housing (IAH), and then MBI Development Company, Inc. (MBID), which utilized the Low Income Housing Tax Credit program to create new affordable housing opportunities. These entities utilized the tax credit program to assist in the development of thousands of affordable rental housing units throughout the east coast. Ingerman has received nearly $54 million in tax credit reservations, which have been sold to primarily Fortune 500 companies to raise equity in excess of $444 million. Today completed projects and projects in development have costs of approximately $870 million.

In 1998, Ingerman expanded its activities through the development of Walt Whitman Village, its first for-sale community in Camden, New Jersey.  It was the first new, for-sale Community in Camden in a century. So well was this project received that it was completely sold out within one year, six months ahead of schedule. Ingerman has also developed a mixed-income rental and for-sale community, Cricket Court Commons. Located in the Germantown section of Philadelphia, the project involved the rehabilitation of an existing apartment complex including 228 rental units and 44 for-sale units. In 2005 Ingerman built nine for-sale houses in Bridgeton, NJ as part of 250-unit multiphase development and 12 for-sale units in Pleasantville, NJ as part of a 128-unit community it developed. In 2009, Ingerman completed 71 for-sale units in Wilmington, Delaware which includes both affordable and market rate units.

Market Rate Development

MBI Development Company (MBID) is a developer of unique market rate housing opportunities. Its first project was the redevelopment of “The Marin” in Jersey City, New Jersey. This $15+million project is located in close proximity to the Jersey City waterfront and involved a 13-story structure that was rehabilitated from a former industrial building into high-end loft apartments, enjoying huge walls of windows that overlook the Manhattan skyline. The Marin also features 18-foot ceiling, exposed structural elements, gourmet designer kitchens, a health club, and a host of additional amenities. The project was sold to a condo converter in 2005.

Our second market-rate project involves a $20+million 148-unit luxury rental project for seniors in Bergen County, New Jersey. Financed with low-floater tax-exempt bonds, MBID acted as co-developer and Ingerman Construction acted as general contractor on the project. The project includes 20% low income units with the remainder of the units renting for monthly rates of $1400 to $2700.

In 2009, Ingerman completed a 71-unit, mixed-income community, Speakman Place, which is made up of both market rate and affordable homeownership townhomes and is located in Wilmington, Delaware. Building upon the success of Speakman Place, Ingerman embarked in 2010 on the development of Union Station, a $25 million, 87-unit luxury townhome development located in the heart of West Chester, Pennsylvania. The development will offer residents an extensive list of impressive standard features including: three bedrooms two-and-a-half baths, two car garages, luxurious kitchens with fine wood cabinetry and ENERGY STAR appliances, open floor plans, front and back covered decks, beautifully landscaped grounds and stucco and vinyl exteriors.

Ingerman was recently named as the redeveloper of the Lumberyard in Collingswood, New Jersey. Originally a for-sale condo development, the Lumberyard is a major redevelopment effort along Collingswood’s main commercial corridor, proximate to a rail station that provides a short commute to Philadelphia. However, the project stalled in 2010 and Ingerman has stepped in to redevelop the remaining portion of the property into a vibrant mixed-use, transit-oriented community, complete with 104 market-rate apartments, street-level retail, and Ingerman’s corporate offices. Construction is slated to begin in early 2013.

Construction

Ingerman Construction Company (ICC) commenced business in 1994 to principally act as general contractor for housing projects developed by its affiliates. Today, ICC is not only constructing projects for Ingerman affiliates, but is also actively negotiating housing related general contracts with unaffiliated owners. ICC is managed by an Executive Vice President of Construction, and includes a staff of estimators, several experienced project managers and project superintendents, and a cost accounting department.

Previous projects have ranged in size from $1.5 million to in excess if $20 million. The value of projects built to date and under construction exceeds $564 million. Geographically, ICC has constructed projects as far north as northern New Jersey and as far south as Dade County, Florida. However, the majority of ICC’s projects have been built in Pennsylvania, New jersey, Delaware and Maryland. ICC has tremendous expertise in building virtually every type of multi-family housing project in virtually every environment. Regardless of the project’s characteristics and setting, ICC’s goal has always been and will remain to build quality, cost-effective housing.

Project Management

Since 1982, Ingerman has been involved in apartment management and has garnered from this experience a valuable basis of knowledge, which has been in turn incorporated into its development and construction capabilities. Ingerman Management Company (IMC) is the primary management vehicle of Ingerman. IMC has extensive experience managing and asset managing thousands of units of affordable housing. Approximately 4,300 units are presently being managed by IMC.

Over the last several years, approximately 25% of IMC’s management responsibilities have involved properties owned by others. IMC employs a full complement of management professionals, which includes a CEO, a vice president, various regional managers, a tax credit compliance group, and a host of property managers, maintenance professionals and janitors. These various employees are responsible for all aspects of the management process, from initial marketing through rent-up and tax credit compliance. Management personnel are also responsible for interfacing with the various social service agencies contracted to provide supportive services to residents. Management staff works closely with the development staff to ensure that the management’s operational experience is taken into account during the planning of a community.

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


M. Brad Ingerman

CEO/ President
The Ingerman Group

Mr. Ingerman received a Bachelor of Science Degree in Accounting cum laude from Villanova University in 1975, a J.D. from Widener School of Law in 1979, and attended New York University’s School of Law – Masters in Taxation Program. He was a member of the Editorial Board of the Delaware Law Review and is admitted to practice law in the Commonwealth of Pennsylvania and the U.S. District Court for the Eastern District of Pennsylvania.

In 1979, Mr. Ingerman joined the Philadelphia office of Price Waterhouse & Co. He was on the tax staff responsible for review, structuring and preparation of projections for real estate limited partnerships, and both individual and corporate tax planning and tax return preparation.

In 1981, he became Director of Marketing for National Property Analysts, Inc., a Philadelphia-based real estate firm. In 1982, Mr. Ingerman formed MBI Management Corp., and served as independent marketing consulting to, and Director of National Marketing for, The Patrician Group, a New York-based real estate organization.

In 1982, Mr. Ingerman began raising equity for Ascott Investment Corporation. Mr. Ingerman became a shareholder, Director and Executive Vice President of Ascott in 1983. Ascott was involved in owning and operating various types of real estate throughout the United Stated including conventional and government subsidized apartments, shopping centers, office buildings, waterfront development, and raw land acquisitions.

In 1987, Mr. Ingerman formed The Ingerman Group. The Ingerman Group is involved in the construction, development and management of for-sale and rental housing. Since its inception, The Ingerman Group developed over 40 affordable housing transactions generally located in the mid-Atlantic region with project costs exceeding $300 million. Previous developments have included suburban and urban locations, new construction and rehabilitation, family and senior projects and prevailing wage and open shop construction. Prior projects have ranged in size from 20 to 408 units and from $2 to $25+ million. Since 1992, Ingerman Construction began building all of the Ingerman Group’s developments. In 1999, Ingerman Construction began building for other developers and housing authorities. Since 1982, Mr. Ingerman has been involved in the ownership of over 8,000 apartments throughout the United States.

Mr. Ingerman lectures frequently on affordable housing finance and development. He has previously served in an advisory capacity to the NJHMFA and PHFA with regard to their LIHTC Qualified Allocation Plan.

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


Bruce R. Morgan

President, BCM Affordable Housing, Inc

Mr. Morgan is the principal of BCM Affordable Housing, Inc., one of The Ingerman Group’s primary development collaborators. Mr. Morgan earned a Bachelor of Science degree in Business Administration with a double major in Finance and Real Estate from American University in 1984 where he was on the distinguished Dean’s List. In 1989, he earned an MBA degree from the University of North Carolina at Chapel Hill with an emphasis in Real Estate and Finance.

From 1984 to 1989, Mr. Morgan syndicated in excess of $126 million of residential real estate for Equity Programs Investment Crop (“EPIC”). He then went to work for Fannie Mae in their Mortgage-Backed Security Division overseeing participating mortgage bankers. During his tenure, he was named Employee of the Year. While earning his MBA, Mr. Morgan interned with Lomas Management, Inc. underwriting approximately $19 million of construction loans in the Southeastern United States.

In 1989, Mr. Morgan joined Amerimar Realty as an Assistant Vice President, where he was part of the development team which built the $160 million Rittenhouse Hotel and Condominium. His responsibilities included building out hotel and condominium units as well as the health club.

In 1992, Mr. Morgan became a Project Manager with Toll Brothers, Inc. where he started up and built out a $25 million community including $1.2 million of site improvements with homes priced between $300,000 and $500,000. In 1994, Mr. Morgan formed Morgan Homes, which specialized in building and renovating custom homes. Between 1994 and 1995, Morgan Homes completed a $2.2 million custom residence as well as two renovations.

In June of 1995, Mr. Morgan joined The Ingerman Group as a Senior Project Manager to oversee both new construction and renovation projects. In 1999, Mr. Morgan was promoted to Vice President. In 2007, Mr. Morgan left The Ingerman Group to form BCM Affordable Housing, Inc. Through BCM, Mr. Morgan collaborates with The Ingerman Group in developing projects in the Mid-Atlantic region. His primary responsibilities include identifying, initiating and overseeing affordable and market rate housing development activities.

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


J. David Holden, Jr.

President, JDH Affordable Housing, Inc.

 

Mr. Holden is the principal of JDH Affordable Housing, Inc., one of The Ingerman Group’s primary development collaborators. Mr. Holden earned a Bachelor of Arts Degree in Environmental Sciences from the University of Virginia and a Master’s Degree in City Planning from the University of North Carolina at Chapel Hill with a concentration in real estate and affordable housing.

In 1988 Mr. Holden joined the John Stewart Company in San Francisco, an affordable housing developer and manager. Specifically he was responsible for project management, feasibility analysis, arranging financing and syndication.

From 1993 to 1996 Mr. Holden was employed by Intrust in Wilmington, DE an NASD Broker/Dealer specializing in raising equity for affordable housing projects. He was a key participant in the design and implementation of the firm’s housing finance business in PA and NJ, with specific responsibility for managing the acquisition process.

From 1996 to 1998 Mr Holden operated an affordable housing consulting business and worked as the Director of Housing for Connections CSP, Inc. In particular, Mr. Holden worked with Social Services agencies and developed special needs housing, homeownership opportunities and rental housing. Additionally, Mr. Holden served as a Technical Assistance Provider for a HOPE VI project in Wilmington, NC, where he worked on designing and implementing a supportive services program.

In 1998 Mr. Holden joined Ingerman Affordable Housing as Director of Development where he was responsible for identifying and executing affordable housing development opportunities for the firm. In 2007, Mr. Holden left The Ingerman Group to form JDH Affordable Housing, Inc. Through JDH, Mr. Holden collaborates with The Ingerman Group in developing projects in the Mid-Atlantic region. Mr. Holden is currently a board member of the Delaware Housing Coalition and a member of Westminster Presbyterian Church. He lives in Wilmington, DE with his wife and their three children.

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


John S. Randolph

Development Principal
The Ingerman Group

Mr. Randolph earned a Bachelor of Science Degree in Civil Engineering from Lehigh University in 1994. He received an MBA from the Kenan-Flagler Business School at the University of North Carolina in 2000, with a concentration in Real Estate.

From 1994 to 1998, Mr. Randolph was employed by Wohlsen Construction Company, a general contracting and construction management firm specializing in the construction of large commercial, residential, and institutional projects. While at Wohlsen, Mr. Randolph was involved in the management of over $100 million of new construction and renovations.

While earning his MBA, Mr. Randolph helped manage the development of a 40-unit infill project in Durham, North Carolina that included both single-family homes and townhouses. Additionally, he helped raise equity for a 50-acre “New Urbanist” style community in Gainesville, Florida.

From 2000 to 2002, Mr. Randolph worked for Greystone Realty Advisors, a real estate consulting firm that provided real estate advisory services to large corporations and developers. While at Greystone, he advised the Wilmington Renaissance Development Corporation on its six-block mixed-use redevelopment effort in downtown Wilmington, Delaware. He also provided valuation, market feasibility, site-selection and disposition advisory services to various Fortune 500 companies. During this period, Mr. Randolph formed Greystone Development Partners, which was involved in the development of a 165-unit low-income housing tax credit project in Wilmington, Delaware.

Mr. Randolph joined Ingerman Affordable Housing as a Development Associate in 2002, and is responsible for identifying and managing the development of both affordable and market rate housing opportunities.

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


Lara Schwager

Development Principal
The Ingerman Group

Ms. Schwager earned a Bachelor of Arts Degree in Architecture from the University of North Carolina at Charlotte and a Master of Business Administration from Rider University with a concentration in finance.

From 1995 to 2004 Ms. Schwager was employed by AvalonBay Communities, Inc. Starting as a Development Assistant, Ms. Schwager took on increasing positions of responsibility, ultimately becoming Development Director. As a Development Director, Ms. Schwager supervised all development approval activities for the New Jersey Region and also was responsible for managing projects from inception through stabilization including management of due diligence, financial analysis, design conceptualization, management of design consultants, township interaction and approvals and the coordination of the projects with her construction and property operation counterparts.

In 2004 Ms. Schwager joined Paramount Homes of Jackson, NJ as their Director of Development. In this role Ms. Schwager led the development and construction actives for the firm’s first multi-family community. Ms. Schwager was also responsible for the execution of all Paramount’s approval activities for their single family and active adult communities.

Immediately prior to joining The Ingerman Group Ms. Schwager served as Assistant Vice President with Archstone Communities, one of the largest multi-family developers in the United States. Ms. Schwager led Archstone’s regional land acquisition activities from Connecticut to Delaware with responsibilities for contract negotiations, equity sourcing, financial and feasibility analysis.

Ms. Schwager joined The Ingerman Group in 2008. She is a key member of Ingerman team that is responsible for identifying, underwriting and prosecuting market-rate multi-family projects.

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


Geoffrey W. Long

Development Associate
The Ingerman Group

Mr. Long earned a Bachelor of Arts Degree in History form Trinity College. At Trinity, he was a member of Phi Beta Kappa and graduated with Honors in General Scholarship. Mr. Long also received a Masters in City Planning from the University of Pennsylvania. While at the University of Pennsylvania he received a 2006 American Institute of Certified Planners Student Award in Applied Research. Mr. Long also attended the Barlett School of the Built Environment, University College London (UK) where he was enrolled in the Town Planning curriculum.

In 2003 Mr. Long was an intern at the United Nations Centre for Human Settlements (UN HABITAT) in New York. While working at the United Nations, Mr. Long was given the responsibility of monitoring working group policy meetings for the 2003 UN ECOSOC Conference in Geneva, Switzerland. His primary responsibility was drafting progress memorandum for review at UN HABITAT Headquarters in Nairobi, Kenya.

From 2003 to 2004 Mr. Long worked as a Researcher for a World Bank sponsored project in Rio de Janeiro, Brazil. Mr. Long worked on primary data analysis on cross-generational poverty in favela communities.

In 2005, Mr. Long joined the Delaware Valley Regional Planning Commission while attending graduate school at the University of Pennsylvania. While at DVRPC, Mr. Long helped in the drafting of a Natural Resource Inventory for Lumberton, New Jersey. Mr. Long also conducted primary research for a Municipal Open Space Plan in Mantua, New Jersey.

Also while in graduate school, Mr. Long worked with Sidney Wong, Ph.D in the drafting of two fiscal impact studies for two housing developments in Hopewell Township, New Jersey. Mr. Long worked primarily on analyzing the effect of these developments on the township schools.

Mr. Long joined The Ingerman Group in 2006 as a Development Associate. His focus since joining the company has been on financial analysis, project underwriting, impact studies and housing policy analysis.

Mr. Long is also a member of the Urban Land Institute.

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


Edward Coupe

President of Ingerman Construction Company

As President of Ingerman Construction Company, Ed is responsible for overseeing construction activities for Ingerman’s portfolio of affordable and market-rate communities, as well as the company’s third-party construction management assignments, ensuring adherence to the highest standards of quality and cost control.

Before joining Ingerman Construction Company for a second time Ed was president of Integrated Construction Services for 7 years, prior to ICS Ed was vice president of Ingerman Construction Company where he oversaw the day to day operations of the construction projects.

Edward graduated from Williamson School with an Associate Degree in Construction Technology. He has worked his way up starting as a carpenter, detailer, estimator, superintendent, project manager, vice president and president at times responsible for $90 million of construction in a single year.

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


Timothy R. Tencer

Director of Pre-Construction Services
Ingerman Construction Company

Mr. Tencer earned a Bachelor of Science degree in Civil Engineering Technology, specializing in Construction Management, from the University of Houston in 1984. Prior to obtaining his degree, his background included the construction of roadway paving and utility projects and work in the fields of drafting and surveying.

From 1984 through 1989 Mr. Tencer worked for the nation’s largest retail contractor, Tribble & Stephens Co. of Houston, Texas. While with Tribble & Stephens Co. as a Field Superintendent, and then as Project Manager, he worked on a variety of projects which included the construction of malls, shopping centers, supermarkets, and multi-plex theaters as well as a renovation of the Houston Astrodome sports stadium. His responsibilities included involvement in all aspects of construction management, as well as assisting in estimating and scheduling. Most of his projects were within the Houston area; however he traveled throughout the southwestern states, including New Mexico, where he oversaw the construction of an award winning renovation to Santa Fe’s original historical district mall.

In 1989 Mr. Tencer began work as Project Manager for Hessert Construction, a southern New Jersey based general contractor, where he remained until 1997. While there he managed various types of construction projects including schools, churches, office buildings, and conference and cultural arts centers. He also managed the construction of medical facilities for local managed health care systems and municipal building for several local communities. His residential work included a public housing project for low-income residents on a HUD funded apartment facility for handicapped occupants. Mr. Tencer’s responsibilities included all aspects of owner, designer, and subcontractor contract negotiation and management, scheduling, estimating, and cost monitoring and analysis. Projects managed were either hard bid, negotiated, or design-build from both public and private funding sources.

In January of 1997 Mr. Tencer joined Ingerman Construction as Senior Project Manager to oversee both new construction and renovation work within the affordable housing market. He has acted as Ingerman Construction’s Director of Operations and is currently Director of Pre-Construction Services.

5 Powell Lane
Collingswood, NJ 08108
T 856.662.1730
F 856.665.7178


Martin Josephs

Vice President of Property Management
Ingerman Management Company

Mr. Josephs has nearly 20 years senior level management experience in the real estate industry, having worked in the commercial, residential, retail and healthcare sectors. This experience includes operations management, marketing and sales, development and acquisitions. His current responsibilities include managing the daily operations for a portfolio of 55 affordable rental properties, supervising a staff of eight senior executives, handling all personnel matters, approving annual budgets and monitoring monthly financial performance, assuring compliance with all local, state and federal regulatory requirements and overseeing leasing and marketing.

Prior to joining Ingerman Management Company, Mr. Josephs was a Vice President for Pennrose Management Company, a regional development and management company, where he had operational responsibility for portfolio of 40 properties. He has also worked for The Shelter Group as Regional Vice President of Operations. His commercial real estate experience includes working for Jones Lang LaSalle, managing a mixed use commercial and retail complex in Towson, Maryland.

Mr. Josephs holds an undergraduate degree from the University of Maryland, a Masters in Business Administration from Temple University and a Masters in Social Work from the University of Pennsylvania. He has served on the BOMA Baltimore Board of Directors and was chair of its Community Service Committee. He holds a Real Estate license in the State of Maryland.

Portfolio

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com
portfolio_1

Spring Mill Apartments
Harrison Township, NJ

Project Summary

Spring Mill Apartments is a 94-unit affordable rental community that was developed in Harrison Township, Gloucester County, New Jersey. The development is compromised of ten buildings: nine containing one, two and three-bedroom apartments, and once containing the administration maintenance, laundry and community facilities. The unit mix includes one, two and three bedroom apartments. Unit configurations feature two and three bedroom flats as well as townhouse apartments.

Spring Mill Apartments consists of 29 units restricted to households at or below 40 percent of the area median income, 37 units restricted to households at or below 50 percent of the area median income, and 28 units at or below 60 percent of the area median income. The current multi-family residential marker includes a limited supply of affordable apartment units, which are generally quite old, and waiting lists for the majority of the complexes exist. Current residents were

drawn from throughout Gloucester County as well as surrounding neighborhoods. This area is experiencing significant population growth, and the availability of new apartments is helping to meet the housing needs of low income residents.

The project received an annual reservation of 9% low income tax credits from the New Jersey Housing and Mortgage Finance Agency of approximately $716,000. Project financing included equity from the sale of the tax credits of $5,923,616, an NJDCA Balanced Housing loan of $2,600,000, $477,608 from the Federal Home Loan Bank, and a first mortgage loan of $1,703,094. Total costs exceeded $10 million. The project began construction in November 2001, and was completed at the end of 2002. Ingerman Construction acted as general contractor, Ingerman Management Company is acting as the property manager and Ingerman Affordable Housing acted as the developer/general partner.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com
portfolio_2

Creekside Apartments
Medford, NJ

Project Summary

Creekside Apartments is a 32-unit new construction family development in Medford Township, Burlington County, New Jersey. The development was in response to satisfying a Mount Laurel/COAH obligation of the adjacent continuing care retirement community that was planning a major expansion. The project is situated on eight acres of land and bordered on both sides by the Rancocas Creek. Medford Township is an affluent municipality that has experienced significant population growth in recent years. As a result, local demand for high-quality affordable housing has risen sharply.

The project consists of 4 buildings including 6 one-bedroom, 16 two-bedroom, and 10 three-bedroom apartments. Rents are established below 60% of Area Median Income. The project includes an on-site management and maintenance office, a community meeting room with a warming kitchen, a tot-lot and a playing field. Unit exteriors feature vinyl sidings incorporated with stucco and brick facades. The interiors are equipped with a range, frost-free refrigerator, dishwasher, garbage disposal, central air conditioning,

portfolio_2_s

washer/dryer hookups, rear storage shed, outside patio/deck and mini blinds. The project features extensive landscaping.

Creekside was financed with $4,092,124 of equity from the sale of 9% low income housing tax credits, $529,181 of Burlington County HOME funds, as well as a $1,533,726 first mortgage and $640,000 second mortgage, both from the NJHMFA. Total project costs were approximately $7.15 million. Creekside received $350,000 from the NJHMFA Council on the Blind and Visually Impaired for which Ingerman will provide three units for blind and visually impaired tenants. Ingerman Construction was the general contractor, Ingerman Affordable Housing acted as the developer and Ingerman Management manages the property. Construction was completed in late 2007, less than one year after construction commenced.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com

Port Capital Village
Elkridge, MD

Project Summary

The Ingerman Group teamed with the Howard County Housing Commission to develop Port Capital Village, an 84-unit family community in Elkridge, Howard County, Maryland.  Port Capital Village is located along the Route 1 Corridor and is part of the larger Route 1 Corridor revitalization efforts undertaken by the County. The property is surrounded by market-rate housing and is located in one of the busiest, wealthiest  and fastest growing areas in the country, being just 12 miles south of Baltimore and 23 miles north of Washington D.C.

Port Capital Village is targeted to families earning between 40 and 60 percent of area median income (AMI). The property includes 42 two-bedroom and 42 three –bedroom units, of which 17 are targeted to families earning below 40% AMI, 29 are targeted to families earning below 50% AMI, and the remaining 38 units are made available to families earning below 60% AMI. The apartments are equipped with Energy Star rated appliances along with high-efficiency forced-air gas heating and central air conditioning system.


The project features a tot-lot and community center that includes ample meeting space, maintenance and management offices, a supportive services office, and common laundry facilities.

The Howard County Housing Commission acquired the property and provided a long-term land lease to Ingerman. The project was financed with $5,198,675 from the sale of 9% low-income housing tax credits, a $5,410,000 FHA-insured first mortgage, and a $293,781 HOME loan from Howard County. Total development costs were approximately $11,000,000, with construction being completed in mid-2007. MBI Development Company served as the developer, Ingerman Construction Company was the general contractor, and Ingerman Management Company currently manages the property.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com

Chelton Terrace Phase 1
Camden, NJ

Project Summary

Constructed in 1953 by the Housing Authority of the City of Camden (HACC), the former Chelton Terrace project consisted of 200 public housing units that had fallen into a state of disrepair by the late 1990’s as a result of many years of deferred maintenance, crime and disinvestment. The new Chelton Terrace will be a community consisting of two phases, both of which have been designed, and the first phase was constructed by Ingerman in 2001. Chelton Terrace Phase I consists of 67 two, three and four-bedroom residences situated on one infill site in the City of Camden. The development includes a 3,525 square foot community building, consisting of the leasing management office, maintenance office, laundry facilities and a meeting room. This community also enjoys a host of social services provided by the Ingerman Management Company. All units have been designed so that in the future they can be converted into homeownership opportunities for the residents.

The rental units are part of a neighborhood plan situated on an entire tract of 12 acres. Within the complex are permanently designated open spaces, ample parking, and a harmonious grouping of rental residences, to form an individual neighborhood. Attention to traditional urban design elements ensures a safe and secure neighborhood for residents of all ages and interests. The project has been designed to blend into larger neighborhood so that the new streets,

sidewalks, yards and houses will both contribute to and benefit from the existing fabric of the neighborhood. The result will be connected street grids and sidewalks systems, which provide for a pedestrian friendly neighborhood that reflects the character of the broader community and establishes an asset for the City of Camden.

The resulting site plan of Chelton Terrace Phase I and II configures the site so as to distribute approximately 170 new, one and two story residences throughout the seven-block area. Each of the blocks is sited with residences on all four sides, facing out, clearly defining the public areas in the front and the semi-private areas to the rear yards, no more than six to a row while fronting onto a street.

HACC selected Ingerman Affordable Housing to provide turnkey development services for Chelton Terrace Phase I after a competitive bidding process. The project costs were approximately $9 million. Ingerman Construction Company served as a general contractor. Ingerman Management Company is now providing property management services, ensuring tax credit compliance, and overseeing the project’s social service components. The project was financed by the HACC with funds from the U.S. Department of Housing and Urban Development.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com
brigdeton-commons

Bridgeton Commons
Bridgeton, NJ

Project Summary

Bridgeton HOPE VI, also known as Bridgeton Commons, is a five-phase redevelopment of the Cohansey View/Mill Street public housing projects located in Bridgeton, Cumberland County, NJ. At the time, the multi-family residential environment in the City included many dilapidated single family and twin units. The property is less than a mile from numerous supermarkets, restaurants, recreation facilities, and a charming neighborhood park. Residents are also within close proximity to Routes 77, 322 and 55, all of which provide access to the neighboring towns and employment destinations, including Vineland, Atlantic City, Philadelphia and Wilmington.

Bridgeton Commons is comprised of three rental phases totaling 234 unis, a 9 unit homeownership phase, and a 50 unit lease-to-purchase phase. Of the rental and lease-to-purchase units, 102 are designated for public housing residents, 122 units are for households earning less than 50% Area Median Income (AMI), and the remaining 60 units for those making no more than 60% AMI. The 9 unit homeownership phase designates five units as affordable to the area’s moderate-income residents and four units for very low-income residents.

One cannot help but notice how this significant multi-phase development has uplifted the face of Bridgeton. The architectural detail is impressive.

With it’s cementitous siding, charming pastel hue facades, rear patios and front porches, this project in 2007 earned a second place finish in the National Association of Home Builder’s Pillars of Industry for Best Neighborhood Revitalization category and a first place finish in the AIA’s Multi Family Housing category. The interior amenities include wall to wall carpeting, modern kitchens, and central air conditioning.

Bridgeton Commons provides to its residents numerous social services. These activities are operated within the project’s 2,500 square foot community center which also contains the leasing/management office, a police sub-station, a maintenance shop and a meeting room. Across the street from the community building is a pocket park, equipped with a tot-lot. All rental units also feature off-street parking.

The five phase project was financed with $43 million from the sale of low income housing tax credits, $3.3 million of financing from the NJHMFA and the Cumberland County Empowerment Zone, a $2 million HOPE VI loan, $500,000 from the Federal Home Loan Bank of NY and $7.5 million from the NJDCA’s Balanced Housing and NJHMFA’s Home Express programs. Total project costs for Bridgeton Commons were approximately $60 million. This five phase project began construction in early 2003 and was completed by April 2008.

The Bridgeton Housing Authority engaged Ingerman Affordable Housing as the general partner and sponsor of the development. Ingerman Construction acted as general contractor and the property manager is Ingerman Management Company.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com
new-hope-community

New Hope Community
Pleasantville, NJ

Project Summary

The Pleasantville New Hope Community Hope VI project centered around the re-development of the decaying Woodland Terrace public housing project. Comprised of two rental and two homeownership phases, it offers a total of 128 rental and 12 for-sale units. Within miles of Atlantic City and located in Atlantic County, the community has experienced rapid population growth resulting from the continued expansion of the gaming industry. The project addresses the high demand for affordable housing while reflecting both the historical and architectural context of Pleasantville. Tenants of Woodland Terrace were actively involved in the development process and their passion is evident in the final product.

The existing project was comprised of 104 units included within 13 ‘barracks style’ buildings and anchored by a dilapidated community center. In the Phase I rental portion, Ingerman built 57 units scattered throughout Pleasantville, consisting of single family residences, detached houses and duplexes. There are 9 two-bedroom, 37 three-bedroom, 10 four-bedroom, and one five-bedroom unit in Phase 1. The Phase I homeownership portion includes 3 for-sale units. Of the 57 rental units, 36 are designated for public housing residents. As a result of the tremendous positive impact this development has on the community, it was the 2007 recipient of the NJHMFA’s Project of the Year award.

The Phase II rental component took the next big step by demolishing the existing project and then re-developing 71 rental units. The rental portion includes 36 two-bedroom, 28 three-bedroom, and 7 four-bedroom units. The majority of the units are twin-style structures with the remainder built as singles. In the Phase II homeownership component, Ingerman added 9 more new for-sale units.

All units provide sustainable design features that make them more durable, desirable, and environmentally-friendly. The unit interiors include modern kitchens as well as washer/dryer hook-ups, wall-to-wall carpeting, and ample exposure to natural sunlight. Ingerman also built a magnificent 4,700 square foot community building.

The total development costs for the Pleasantville New Hope Community were approximately $28 million. Project financing included $13,749,174 from the sale of low income housing tax credits, a permanent loan of $540,000 from the NJHMFA, $9,733,091 in HOPE VI funds from the Pleasantville Housing Authority, $3,614,180 in Balanced Housing/Home Express funds from the NJDCA, and $225,000 from the Atlantic County Improvement Authority.

Ingerman Affordable Housing acted as the general partner and sponsor of the development. Ingerman Construction was the general contractor and the property is currently managed by Ingerman Management Company. The project was completed in late 2007.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com
manor-heights

Manor Heights
Mounville, PA

Project Summary

The Manor Heights community is located in the central-western portion of Lancaster County, Pennsylvania and sits high on a bucolic hillside with spectacular views of the area. Much of the site is reserved for open space with nature trails, a tot-lot, and ample preserved land around the Little Conestoga Creek that runs through the lower portion of the property. Faced with the challenge of developing a high-density multi-family community on a steep grade, Ingerman created an entirely new prototype building to meet this test while respecting the natural site conditions of the property. What resulted was the creation of a mixed income community that includes 70 affordable rental apartments and 39 market-rate for-sale townhouses.

The rental community consists of 20 residential buildings that include 35 two-bedroom and 35 three-bedroom units in a combination of townhomes and flats. Twelve of the units are made affordable to families earning less than 60% of area median income (AMI), 44 of the

units are targeted to families earning below 50% AMI, and 14 units are set-aside for families earning below 40% AMI. The spacious community building features common meeting spaces, management offices, a supportive services office, a maintenance area and common laundry facilities.

The rental community was financed with $7,891,132 of equity from the sale of 9% low-income housing tax credits, a $1,500,000 second mortgage from PHFA’s PennHOMES program, a $1,200,000 third mortgage from the Redevelopment Authority of Lancaster County, and a $250,000 fourth mortgage from the Lancaster Housing Opportunity Partnership. Total project costs exceeded $12,000,000.

The project, which was completed in late 2006, was developed by MBI Development Company. Ingerman Construction Company served as general contractor and Ingerman Management Company manages the property. Due to Ingerman’s creative efforts on Manor Heights, the Lancaster County Planning Commission awarded the project its annual Smart Growth Leadership Award in 2006.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com
hopewell-gardens

Hopewell Gardens
Pennington, NJ

Project Summary

Hopewell Gardens is a 150 unit affordable housing development for active seniors in the affluent suburban community of Hopewell, NJ. Ingerman was approached by one of the country’s largest homebuilders to satisfy a previously agreed to Mt. Laurel/COAH obligation. The project provides much needed senior affordable housing to Mercer County. The location provides easy access to I-95, 295, and other major roadways as well as numerous restaurants, grocery stores, and convenient shopping within one block.

The complex includes 114 one-bedroom and 36 two-bedroom apartments in a single 3-story elevator building. The property provides luxury amenities to residents including a fully equipped exercise room, multiple activity parlors, and several library/social rooms. Residents can enjoy an outdoor recreation area complete with bocce ball and shuffleboard courts. The building also contains the leasing/management office, a maintenance shop, a doctor’s office, and laundry facilities.

The interiors at Hopewell Gardens truly set the standard for modern high-quality affordable housing. Many who visit Hopewell Gardens believe it is a luxury apartment complex for seniors charging 50% to 100% more than the rents charged to our residents. Each apartment includes wall-to-wall carpeting, private patio/balconies, and energy-efficient air conditioning and heating. Kitchens are equipped gourmet appliance packages including dishwashers and garbage disposals. Additionally, each unit has nurse pull cords and grab bars.

Total development costs for Hopewell Gardens exceeded $15,000,000. Financing included $4,460,000 in 4% low-income housing tax credit equity, an $8,730,000 first mortgage from the NJHMFA, and $2,000,000 from the NJHMFA Rental Housing Subsidy Loan Program. Construction was completed in the fall of 2005. Ingerman Affordable Housing developed the project with Ingerman Construction acting as the general contractor. The property is managed by Ingerman Management Company.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com
speakman-place

Speakman Place
Wilmington, DE

Project Summary

The Ingerman Group partnered with Cornerstone West, a Wilmington-based non-profit, to redevelop the abandoned site formerly occupied by the Speakman Company. Located on East 30th Street in Wilmington, Delaware, Speakman Place is a for-sale community providing families with significant first time homeownership opportunities. The project includes 71 townhouses, of which 12 are priced to be affordable to households earning up to 50% of the Area Median Income (AMI) and 29 to those earning between 51% and 80% AMI. The remaining 30 units are market-rate.

The site was home to the Speakman Company, a plumbing, faucet, and water safety equipment manufacturer founded in 1869, until the company moved its operations in 2003. The abandoned site had become a dangerous eyesore for the community.

The units are three story townhouses with a front-entry garage. Each unit includes about 1,600 square feet of living space with three bedrooms and one and one-half bathrooms, one powder room, living room, kitchen area and dining room. Exterior features include brick and vinyl finishes, peaked roofs, and bay windows. Several units also feature front porches, patios or decks. Significant options were made available to homeowners.

The project was financed in part with a $1,287,590 loan from the Delaware State Housing Authority, $500,000 from the Federal Home Loan Bank of Pittsburgh, $625,000 from the City of Wilmington and a $4.7 million revolving construction loan from Citizens Bank. Speakman Place also received over $2,602,417 from the Delaware Department Natural Resources and Environmental Control which was used to remediate the site. Total sales proceeds are estimated at $10,800,000. Ingerman Construction was the general contractor.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com
lincoln-commons

Lincoln Commons
Haddonfield, NJ

Project Summary

Lincoln Commons, a senior housing development located in the quaint and exclusive Borough of Haddonfield, Camden County, New Jersey, consists of a 3 story building with 48 apartments. Apartment amenities include wall-to-wall carpeting, new appliance packages, and air conditioning, among others. Common area amenities include finely appointed lobbies, several community areas and an on-site social services room. The development consists exclusively of one bedroom units that are affordable to seniors at or below 50 percent of area median income and provides much needed senior housing to the Borough of Haddonfield.

Before the development of Lincoln Commons, affordable senior apartments in the area were virtually non-existent. Over the ten years prior to The Ingerman Group’s involvement, the Borough had unsuccessfully attempted through two area non-profits to arrange for the development and funding of the project. Lincoln Commons’ residents were drawn from throughout Camden County as well as neighboring areas, such as the City of Philadelphia.

Social Services at Lincoln Commons are being offered through the Borough of Haddonfield Social Services Coordinator. These services include connecting residents

to County-offered programs, integrating interested residents into service systems available through various county offices and on-site programs. An array of services, events and workshops are currently being offered on site. These services include aerobics, art classes, movie nights, bingo and card games, trips and outings, and social service office hours two days per week. The Lincoln Commons social services program continues to evolve per resident needs and suggestions, and all events and workshops are always well attended. All services offered free of charge to residents.

Project financing included equity from the sale of 4% tax credits of $1,677,000, $1,740,000 in NJ DCA Balanced Housing Funds, $316,000 in Federal Home Loan Bank funds, a tax exempt first mortgage of $940,000 issued by the Camden County Improvement Authority, $151,000 in Borough CDBG funds and $650,000 in HOME funds from Camden County. Total project costs were approximately $5.5 million. Construction began in October 2001 and reached completion in the
Spring of 2003. Ingerman Affordable Housing served as project developer, Ingerman Construction Company acted as general contractor, and Ingerman Management Company now serves as property manager.

5 Powell Lane Collingswood, NJ 08108
TEL:(856) 662-1730
FAX:(856) 662-0597

www.ingermanconstruction.com
kentshire

Kentshire
Midland Park, NJ

Project Summary

The Kentshire is a 148-unit luxury senior market rate rental development in Bergen County, NJ. Within close proximity to Manhattan, it offers all the benefits of the city in a lush suburban setting. In recent years the area has experienced rapid growth, as families opt out of New York for the cozy confines of Northern New Jersey. One of the 25 most affluent regions in America, Bergen County features countless fine dining, shopping, and entertainment destinations.

The Kentshire is a mixed-income community with 80% of the apartments at market-rate, while the remaining 20% are restricted to households earning no more than 50% of the area median income. There are 6 studio apartments, 63 one-bedroom units, and 79 two-bedroom units. Apartments are equipped with elegant wall-to-wall carpeting, ceramic tile baths & kitchens, cable and internet, top of the line appliances, as well as optional 24 hour monitoring services.

The colonial-styled building is situated around a lush central courtyard featuring walking paths, setting areas, a full-sized swimming pool and convenient parking facilities. Inside, the building’s generous common areas include management offices, maintenance and laundry facilities, resident meeting rooms, a billiards room and an exercise area.

The Kentshire is a joint venture between The Ingerman Group and The Richman Group of Greenwich, CT. It was financed with $1,200,000 of equity from the sale of 4% low-income housing tax credits, $21,000,000 in tax-exempt bonds and in excess of $5 million in developer equity. Total project costs were approximately $27 million. Ingerman Affordable Housing acted as the co-developer and Ingerman Construction Company was the general contractor.

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