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News Releases

  • Pennrose Wellness Plan Decreases Premiums, Improves Employee Health
    January 9, 2014
    At a time when many companies are seeing double-digit increases in their health plan premiums, Pennrose Management Company is seeing relatively none. For 2014, according to Aon Hewitt, the average medical renewal increase is nearly 7%, but Pennrose had less than 1%. The company attributes its favorable rate to the implementation of a results-oriented wellness program that incentivizes employees to take an active role in their health.

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  • Pennrose Wins Big at NJAA’s “20th Annual Garden State Awards of Excellence”
    December 4, 2013
    Pennrose was a big winner at the “20th Annual Garden State Awards of Excellence” presented by the New Jersey Apartment Association (NJAA). The awards recognize excellence among industry leaders in multi-family rental housing. Pennrose won 20 awards.

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  • Pennrose and the Housing Authority of the City of Paterson Break Ground on a New Affordable Family Housing Complex
    July 2, 2013
    Pennrose and the Housing Authority of the City of Paterson (HACP) broke ground on the third phase of The Heritage at Alexander Hamilton, an affordable family housing community, on Wednesday, June 26th. Phase III includes the development of an additional 50 mixed-finance, tax credit rental units. After Phase III is finished in February 2014, the property will undergo one final stage of development and upon completion have a total of 205 units. Leasing for Phase III is scheduled to begin in November.

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  • Pennrose and the New Britain Housing Authority Break Ground on the City’s Newest Affordable Senior Housing Complex
    June 25, 2013
    Pennrose and the New Britain Housing Authority (NBHA) broke ground on The Jefferson, an affordable senior housing development, on Friday, June 21st. The Jefferson is the first step in the NBHA’s revitalization plan to provide new senior, disabled and family homes through the redevelopment of its public housing portfolio. Pennrose will manage the 70-unit property upon completion this December. Leasing is anticipated to begin in late August.

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  • Pennrose Opens New Senior Apartment Community to Meet Growing Market Demands
    May 16, 2013
    On Tuesday, May 15th at 2:00 PM, Pennrose held a grand opening and ribbon cutting ceremony to celebrate the completion of Somerton Court Senior Residences in Trevose. The development consists of 54 one-bedroom units and six two-bedroom units for low-income seniors.

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  • Pennrose Announces Lopa P. Kolluri as Vice President of Operations
    May 13, 2013
    Pennrose, a leading real estate development and management company focused on multifamily communities, is proud to announce that Lopa P. Kolluri has been named Vice President of Operations. Kolluri will be responsible for managing Pennrose’s development team, evaluating hiring needs and prioritizing employee allocation.

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