Community Preservation Partners and L+M Development Partners have revealed a $123 million overhaul of Norman Towers, a senior community development in East Orange, New Jersey. Located at 500 North Walnut Street, the building contains 406 units of affordable housing and was originally completed in 1980.
Since that time, the building has not received any substantial renovations and is in need of considerable upgrades. Planned changes include the installation of energy-efficient appliances, new cabinets, and countertops in every home. Common areas and amenity spaces will include an expansion of the community room, a computer room, a fitness center, as well as outdoor dining areas with barbecues. The project team will also update existing landscaping and lighting throughout.
From executive architects Inglese Architecture + Engineering, new renderings of Norman Towers also reveal slight modifications to the building’s façade including gray paneling to break up the mostly brown brick mass.
“Much of our work in Northern New Jersey is focused not just on revitalizing properties but also ensuring that those living in them can remain in their homes,” said Jeffrey Moelis, managing director of preservation at L+M Development Partners. “We are proud to work with CPP [Community Preservation Partners] as well as our government and financial partners, including the City of East Orange, the New Jersey Housing and Mortgage Finance Agency, Freddie Mac, HUD, and Wells Fargo to deliver essential upgrades and preserve affordability for seniors at Norman Towers.”
Community Preservation Partners and L+M Development Partners purchased the property for $94 million. Affordable housing mandates for the community were set to expire in ten years, but will now be extended for 30 years as part of the purchase agreement. Construction is expected to wrap before the end of 2022.