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Faison Mews Leasing Information The ChallengeThe Faison Mews development in Camden, New Jersey was undertaken by Pennrose in partnership with Parkside Business and Community in Partnership, Inc (PBCIP). The focal point of the project was a community landmark, the Pearlye Building constructed in 1910. It had fallen on hard times in the 1970s and by the 1980s lay abandoned. On the same block as the Pearlye, but separated by three poorly maintained properties, sat the Parkview Apartments. Four separate buildings built in the 1950s, these too were now vacant and in a serious state of disrepair. To revitalize the area PBCIP acquired all of the properties and invited Pennrose to undertake a green redevelopment with a goal to preserve the Pearlye Building. The SolutionTo facilitate the undertaking, Pennrose assembled a mixed finance package that included LIHTC equity and a talented
development team. The latter forged an imaginative redevelopment plan for the contiguous sites. Once the seven derelict
buildings were demolished, the landmark Pearlye building was preserved and a new building was constructed. Their
amalgamation was effected architecturally through the selection of interdependent materials and physically through the
construction of a connecting three-story breezeway. All of the 51 one-bedroom apartments in the three-story, elevator building
were handicap-usable, with 5 units designed for wheelchair accessibility; three for mobility impaired; and three units each for
the hearing and visually impaired. Faison Mews was developed under the New Jersey Sustainable Development/Affordable
Housing Pilot Program. Some of the green features included the use of native landscaping, a rainwater collection system,
Energy Star appliances, recycled materials including acoustical ceiling tiles and carpet, and low VOC paint, sealants and
adhesives in interior finishes. Additionally, all units received Energy Star individual mechanicals and a 96% efficient gas water
heater. Faison Mews was designated by the Department of Community Affairs and Public Service Electric and Gas Company
as an exemplary project.
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