This week, Congressman Andrews announced that South Jersey gained 50 new construction jobs for a 70-unit, five-story apartment building that broke ground in Collingswood on Tuesday. Rep. Andrews helped make the project possible by helping Collingswood restore its quality credit rating so that the project could be financed. Andrews led a dialogue between the town and Moodys, the credit rating agency, which led to an upgrade in the town's credit rating to investment grade in late May 2012.
The Collings at The Lumberyard will be pet-friendly, with Energy Star appliances and square-footage ranging from 800 to 1,300. They will also offer residential amenities such as an outdoor courtyard with a grill, covered parking, common-area WiFi, a community room and a fitness center. The property developer, Ingerman Group, is also moving its headquarters from Cherry Hill to the first floor of the new building and bringing with it 50 permanent employees, 4 of which will be new hires. The first floor will also feature 1,500 square-feet of retail space on the corner facing Haddon Avenue. The location offers great nearby restaurants and shopping as well as access to the Patco speed-line.
"Businesses and residents have been hoping and waiting for half a decade for these apartments to be finished," said Congressman Andrews. "Not only does this project generate 50 new construction jobs, but it will bring new revenue, new residents and new customers to downtown Collingswood, which is a welcome sign of an economic resurgence for our area."
Apartments at The Collings are expected to be available for lease by early next year, with construction slated for a summer 2014 completion date.