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The Renaissance Village is now accepting applications, Councilwoman Yvonne Clayton has announced.

Being developed by Marlton-based Michaels Group, the 64 unit affordable residential complex is the first of three new housing projects underway in the city’s southwest neighborhood to announce it is accepting applications; the other two are the Asbury Park Housing Authority’s Boston Way redevelopment and Interfaith Neighbors Parkview AP income property development marketed to first time homebuyers. 

“I am just really thrilled,” Clayton said. “It will be, in 2020, 50 years since buildings were destroyed along that corridor. These will be the first new apartment buildings to receive applications since 1970. These are affordable one, two and the bedroom units; there are duplexes; one building will have retail space; and they are going to have a social service office, computer room, community room, and bicycle storage. It’s just such a wonderful thing, plus it is going to bring activity and people back to Springwood Avenue.”

The City native said the project held particular importance for her because of the area’s history of being a vibrant neighborhood that served the community.

“The Springwood Avenue that you see today and the Springwood Avenue that I knew are completely different,” she said. “My Springwood Avenue was vibrant, it was busy, any service that you could possibly want was there.”

Among those she named were a shoe repair, grocery store, department store, restaurants, dry cleaners, nightclubs, a pharmacy, electricians, photographer, and studios.

“It was all there,” she said. “This Springwood Avenue will never be the same but it is going to be something and it’s that going to be good for today. I’m overwhelmed with excitement and happy.  that at last we were able to make this happen because we were committed to making it happen and it succeeded.”

In its totality, the Renaissance Village will have 64 units in five buildings on three parcels along Springwood and Sylvan avenues, Asbury Park’s Director of Planning and Redevelopment Michele Alonso said.

“In addition to eliminating the blight of vacant lots, this project will inject life onto Springwood Avenue,” Alonso has said. “These units should produce over 100 new residents and we anticipate we will see more investment in the Springwood and Memorial commercial corridor as more residents come into the area.”

The Michaels Group was first awarded the development rights back in July 2014 but had been in a holding pattern as they sought to bridge a financial gap through the New Jersey Housing and Mortgage Finance Agency Sandy Funding. They were denied twice but with support from Monmouth County officials and the local governing body the funding was awarded during the final of three allotment rounds.

“I think this is just fantastic,” Mayor John Moor said. “I have to give credit to [Freeholder]  Tom Arnone and the County for their help in getting the financing. We were scared it was dead but at the midnight hour it came through because of their support.”

Moor said he believes the project is ahead of schedule, meaning residents could begin moving it by year’s end.

“I can’t wait for people to start to move in because this is affordable home that our community needs.”

The $20.2 million project features 64 townhome style units for families falling with a variety of incomes at or below 60 percent of the area’s median income.

Five of the units will be reserved for homeless individuals and families, with a preference going toward those who have served in a branch of the US military.

During the first 90 days of leasing, a priority will be given to those who were displaced during Superstorm Sandy.

Interstate Realty Management will serve as the property manager.

For more information, including a closer look at the unit layouts, amenities, and the online application, click here or call 732.938.0296.

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