This unique, upscale residential community blends single-family townhomes and luxury rental apartments with some of the city's finest restaurants. Riverwatch is located in a once blighted, post-industrial neighborhood in close proximity to the city's commercial and cultural district. The market-rate apartment buildings integrate the historical architecture of the area and have been leased to full occupancy since opening day. Through the Riverwatch development project, Devco has restored residential life to downtown New Brunswick, bringing more than 500 new residents to this center city neighborhood. This new community in the urban core has produced a vitality essential to successful urban revitalization. The residents of this neighborhood have reinvigorated a dormant consumer base, and through increased pedestrian activity, have helped make the city safer.

completion : July 1999
location : Hiram Market, situated near central business district
between Neilson Street and Route 18
size: 199 market-rate apartments in three buildings;
30 townhouses
occupancy: market-rate owners and residential leasing tenants
developer: Devco and the Applied Companies
architect: Phase I - Beyer, Blinder & Belle Architects
Phase II - Minnow & Wasko
construction manager: AJD Construction Company
investment: $25 million

financing: UDAG, FHA Loan Program, AFL-CIO Pension Fund, PNC Bank,
New Jersey HMFA Downtown Living Program, Private Equity


[ top ]

 
 
 
120 Albany Street  Tower One  7th Flr          New Brunswick New Jersey 08901           732.249.2220