Woodmont Properties Begins Construction

Woodmont Properties has begun construction on a new rental community, Woodmont at Bridgewater, according to a release from the company.

According to the release, the complex on Route 202/206 near Foothill Road will have 100 two-bedroom apartments on 10 acres of green space.

“We are pleased that we were able to work cooperatively with the municipality to make this worthwhile project a reality,” Stephen Santola, executive vice president and general counsel for Woodmont Properties, said in the release. “Woodmont at Bridgewater is one of several communities we are developing here in New Jersey because we know there is a continual need for market-rate and affordable housing.”

Woodmont at Bridgewater will include recreational amenities, including a clubhouse, fitness center, basketball court, picnic area and other opportunities.

The project, the release said, costs about $18 million, and 100 contractors will be needed during the construction process. People are expected to be able to move in in early 2012, the release said.

, but a new state law was enacted to enable developers to switch to market-rate housing if they met certain requirements, including the project not having broken ground as of the time of the transition.

This project fell into the category and the change was made.

Woodmont at Bridgewater will adhere to affordable housing guidelines, the release said, with 20 percent of the units being set aside as affordable.

“We’re extremely pleased that Woodmont Properties has not only made 20 percent of the homes in Woodmont Square available to families earning around $50,000 per year, but that the company immediately began construction after obtaining its approvals,” Adam Gordon, staff attorney and equal justice works fellow with the Fair Share Housing Center, said in the release. “The demand for entry-level housing remains great throughout the state and this project serves as a tremendous example of how smartly executed development can contribute to addressing this demand. We look forward to these starter homes being available on an equal basis to families from Bridgewater and the surrounding area.”

For more information about Woodmont at Bridgewater, call 908-988-1164, or visit the website.