A 264-unit residential development is set to break ground in Winslow. Located near the Atlantic City Expressway, the project will bring new rental options to South Jersey. EFP Investments acquired the 18-acre site this month for $4.65 million.
Highlights
- EFP Investments purchased an 18-acre site in Winslow earlier this month.
- The developer plans to deliver 264 new rental units for South Jersey residents.
- The project will feature 11 apartment buildings and a range of resident amenities.
New Jersey Welcomes a New 264-unit Residential Complex
According to The Business Journal, Winslow’s latest residential development will feature 11 apartment buildings, each housing 24 units, on an 18-acre site at the intersection of Berlin-Cross Keys Road and Johnson Road.
The project also includes a clubhouse with a fitness center, yoga room, and coworking space, according to EFP Investments President Charles Epstein.
Timeline of the Latest Residential Project
The project will be delivered in phases, with the first units and clubhouse expected to be completed approximately 18 months after groundbreaking. Full completion is projected within two years.
A Favorable Scope for Retail in the Area
The sellers retained the front portion of the site, which may allow for additional retail along Berlin-Cross Keys Road. Epstein acquired the farmland parcel from the Petrongolo family, who had owned it for years.
The Developer’s Long History with the 18-acre Plot
Epstein acquired the parcel from the Petrongolo family, who had owned it along with the farmland. Epstein first encountered the parcel while overseeing the region for Lennar’s multifamily division, now known as Quarterra Group. While many developers pursued urban sites, Epstein was drawn to open, rural spaces like Winslow for multifamily projects.
Lennar placed the site under contract about five years ago but later walked away. Epstein stayed interested and ultimately acquired the land this month.
EFP Investments’ Growing Presence in New Jersey
Alongside the 264-unit project in the Philadelphia metro area, Epstein’s company is working on a string of projects in New Jersey. It recently launched the Arthur apartment community in Carteret. Additionally, EFP Investments has broken ground on a Matawan project and is constructing another project in Red Bank.
With its amenity-rich design and spacious layout, the Winslow project marks a major addition to South Jersey’s rental housing landscape.
