Summit Terrace, New Windsor, NY
Summit Terrace is a 270-unit rental community on a picturesque 20-acre setting in upper Orange County, NY. The community, which started construction in 2014, provides residents with spacious units and dedicated garages. This is a joint venture project with Fidelco Realty Group of Milburn, NJ.
Summit Lane - Newburgh, NY
Summit Lane is a ground-up development site approved for 160 multi-family rental units in 12 buildings with a mix of one and two-bedroom apartments. Diversified entered a joint venture project with Fidelco Realty Group of Milburn, NJ and acquired 27-acres at the intersection of Interstates 87 and 84 in the Town of Newburgh, NY and commenced construction in the spring of 2013. Market-rate apartments range in size from 778 square feet to 1,133 square feet. The apartments will feature designer kitchens with granite countertops, wood cabinets, central air-conditioning, hardwood floors, in-unit washers and dryers and some private garages. On-site recreational amenities will include a clubhouse and swimming pool.
Summit Court , Union, NJ
Summit Court is a 15-acre 270-unit brownfields transit oriented development project with a mix of rental flats and townhouses to be developed on the site of a recently completed complex environmental remediation effort. The project is located close to the NJ Transit station near Kean University and will provide jitney service for the community's residents to the train station. This project is being developed as joint venture project with Fidelco Realty Group.
River Ridge - Hyde Park, NY
Diversified is actively developing a 162 unit townhouse community in upper Dutchess County, NY. The property is in close proximity to the Roosevelt and Vanderbilt estates and features dramatic Hudson River views. Thirty six units have been sold to date and the clubhouse and amenity package are under construction with a delivery date scheduled for Summer 2015.
Summit Ridge Apartments - Allentown, PA
Acquired a non-performing loan in 2011 for 200 market-rate apartments. Successfully acquired the deed to the property through a foreclosure sale and commenced completion of construction. Apartments feature designer kitchens with granite countertops, central air-conditioning, cherry wood cabinets, in-unit washers and dryers and private balconies or patios. Construction was completed in 2014.
Summit Place Apartments - Lindenwold, NJ
Acquired a non-performing loan for 148 market-rate apartments. Successfully acquired the deed to the property through a foreclosure sale and subsequently completely renovated and repositioned the property to become the most desirable community in the local market.