WOODMONT PROPERTIES BEGINS SITE WORK FOR MIXED-USE TRANSIT-ORIENTE...

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WOODMONT PROPERTIES BEGINS SITE WORK FOR MIXED-USE TRANSITORIENTED DEVELOPMENT IN SOUTH AMBOY, N.J.
Redevelopment to Transform Abandoned Industrial Property into Pedestrian-Friendly Townhome Community and Skilled Nursing Facility

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SOUTH AMBOY, N.J. (January 17, 2012) Woodmont Properties has begun site work on a 15-acre parcel in South Amboys Lower Broadway Redevelopment Area that will be transformed into Woodmont at South Amboy, a mixed-use, transit-oriented development comprised of townhomes and an 84,000-square-foot skilled nursing facility. Woodmont Properties has secured necessary approvals to develop 86 townhomes at the property, which is located within walking distance of South Amboys downtown and a New Jersey Transit train station. An adjacent skilled nursing facility will be constructed on the site by Venetian Healthcare, LLC. The Venetian Care and Rehabilitation Center consists of a four story skilled nursing facility offering care for 120 long term and 60 short term residents. The 84,000 square foot facility will be comprised of 3 floors of resident rooms and a ground floor containing common areas for dining, rehabilitation centers for long and short term care residents, administrative offices and central support services. The site work includes demolition of existing blighted commercial buildings and is expected to last throughout the winter. Vertical construction on the nursing facility is planned to commence in the spring of 2012. Woodmont is keenly focused on the redevelopment of underutilized industrial sites into viable developments that are an asset to the community. This project is a perfect example of our work revitalizing extremely complex sites, said Stephen A. Santola, Executive Vice President/General Counsel for Woodmont Properties. Through collaboration with Mayor Henry and the South Amboy Redevelopment Agency, we are delivering a project that will provide much-needed quality housing and generate significant tax ratables, while greatly improving an important part of South Amboys downtown.

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As part of the sites redevelopment, Woodmont previously donated a portion of the property to South Amboy for the creation of a new, state-of-the-art YMCA and Recreation Center, which opened in 2010 and is also the home of the Citys Senior Center and Recreation Department. The facility, which provides numerous activities and programs for the community, as well as a number of amenities open to the public, including a 6,000-square-foot health and wellness center, full-court gym and

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WOODMONT PROPERTIES BEGINS SITE WORK FOR MIXED-USE TRANSIT-ORIENTE...

http://www.southamboynj.gov/?q=node/90

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competitive level swimming pool, will serve as a great amenity to residents of the future townhome community planned for the site. The ongoing revitalization of this important property will result in the creation of permanent jobs and will help to support the economic development of our downtown to the benefit of all residents and business owners in South Amboy, said South Amboy Mayor Fred Henry. Anytime we are able to take a run down, underutilized property and utilizing Redevelopment law, change it from an eyesore to a thriving, productive part of our City we improve and enhance the beauty of South Amboy, continued Mayor Henry. This is a true win-win project for our community and we look forward to seeing additional progress being made. For additional information about Woodmont at South Amboy, please contact Woodmont Properties at (908) 988-1164.

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