FOR IMMEDIATE RELEASE: Monday, June 27, 2016


Ingerman building 84 affordable apartments within eight, three-story buildings in Hunterdon County 

FLEMINGTON –The New Jersey Housing and Mortgage Finance Agency (HMFA) Executive staff recently joined local officials and community leaders to break ground for The Willows at Flemington Junction, that will offer 84 brand new, affordable apartments set within eight, three-story buildings. One hundred percent of the apartments will be affordable to workforce families. Five are set aside for homeless individuals. Ingerman Development Company, LLC based in Collingswood, N.J., is the developer.

The affordable rental community will offer 15 one-bedroom units; 48 two-bedroom units; and 21 three-bedroom units. All homes will feature Energy Star appliances including washers and dryers, central air conditioning and multi-fixture bathrooms.  Community amenities will include a community center with meeting rooms, warming kitchen and fitness center; a playground, walking trail and garden; and a management office. On-site parking will be provided.

Five units will be set aside for homeless individuals. The Department of Community & Supportive Services (CSS) at Ingerman Management Company will provide supportive services for the homeless, including case management, mental health counseling and services; rehabilitation, vocation and employment assistance, general health and dental services; income support and benefits as well as substance abuse (alcohol, drugs) treatment.

“We are very pleased to provide financing for one more affordable family community in New Jersey in the heart of Hunterdon County,” points out HMFA Executive Director Anthony L. Marchetta. “Flemington’s renowned historic ambiance is complemented by a quaint, hometown character, offering an ideal setting for families.”

The HMFA, an affiliate of the Department of Community Affairs (DCA), awarded the affordable community the highly competitive 9% Low Income Housing Tax Credits (LIHTC) which is expected to generate more than $14 million in private equity. In addition, more than $4.6 million in permanent financing was provided through HMFA’s Multifamily Conduit Bond program.

Centrally situated within Raritan Township, The Willows at Flemington Junction is close to nationally recognized retailers; local shops and restaurants; and the Trans-Bridge Lines that provide daily bus service from Liberty Village in Flemington to the Port Authority Bus Terminal in Midtown Manhattan, Newark Liberty International Airport and JFK International Airport. NJ Transit provides local bus service throughout Flemington.

“With The Willows at Flemington Junction we are excited to bring high-quality affordable housing to the residents of Raritan,” said Lara Schwager, Development Principal at Ingerman. “We look forward to working with the Borough, Township and County as well as our partners at the NJHMFA to bring this development to fruition and we’re grateful for their support in this endeavor.”

The approximately $20 million development will provide affordable housing opportunities for New Jersey families and homeless individuals and will continue to have a positive economic impact on the Hunterdon County community. HMFA estimates that the project has generated nearly $31.8 million in one-time economic output, defined as the total value of industry production, such as sales and business revenues. During construction, the project will support approximately 190 direct and indirect/induced full-time equivalent jobs, and generate more than $1.1 million in state and local taxes. When completed, the project will continue to add value to the community by providing approximately $3.5 million in ongoing economic output, 20 direct and indirect/induced full-time equivalent jobs, and approximately $200,000 in state and local taxes annually.

Economic Impact Analysis figures were estimated using multipliers derived from a 2013 study entitled “Economic and Fiscal Impacts of the New Jersey Housing and Mortgage Finance Agency’s Investment in Affordable Housing,” conducted by HR&A Advisors, Inc., a real estate and economic development consulting firm.

With origins as a developer of high-quality affordable rental housing, Ingerman has expanded its focus on delivering innovative housing solutions to include market-rate rental and for-sale communities. Through an approach to strategic financing, the company maintains strong relationships with leading financial institutions and institutional equity investors.

Ingerman adheres to responsible development practices, working collaboratively with project stakeholders – including municipalities and residents – to ensure that each of the Company’s developments positively contributes to the local community.

For more information on HMFA programs, please visit



Tammori Petty

or Emike Omogbai
(609) 292-6055