BOSTON – WinnCompanies announced that it has acquired and repositioned a 199-unit market rate, apartment community in West Deptford, NJ, roughly 14 miles from Philadelphia, PA.
The property has been recently introduced to the market as Cove at RiverWinds, offering luxury apartments for adults ages 55 and above. Built in 2009, this suburban mid-rise community features underground garage parking with interior courtyard. Cove at RiverWinds is located on approximately 5.4 acres of land with convenient access to Interstates 295, 95, and 76.
The rebranding of the community, acquired by WinnDevelopment in April and managed by WinnResidential, is the latest in a series of investments to enhance the property for its residents. Improvements include interior apartment renovations and fresh new amenities to create a true lifestyle living experience. Amenity enhancements include a new resident lounge for social activities, enhanced courtyard with outdoor kitchen and café seating, community garden, dog park and updated lobby with resident coffee bar. Other property updates include enhanced smoke detection and fire control systems.
“This is an important acquisition for our market rate portfolio and we will move quickly to bring fresh new services and offerings to the property and to the community,” said Deirdre A. Kuring, President of WinnResidential. “We see a bright future for this property, for its residents and for the Township of West Deptford as a whole.”
WinnCompanies owns and/or manages more than 6,000 market rate apartments nationwide, including communities in California, Connecticut, Florida, Georgia, New Jersey, New York, Massachusetts, Texas, and Washington, DC
The Cove at RiverWinds consists of two L-shaped four-story buildings, featuring elevator access, a new community room, an outdoor courtyard, onsite management office, and parking garage. The unit mix includes 74 one-bedroom apartments, 121 two-bedroom apartments, and four penthouse suites.
The property, formerly known as Rivercove Apartments, is located adjacent at the main entrance to the RiverWinds Community Center, a county-funded waterfront recreational development offering 112,000 square feet of space and featuring a high end restaurant, state of the art fitness facilities, a tennis center and a golf course.
It abuts a master development built by Jaworski Redevelopment Enterprises, LLC, whose principals include former Philadelphia Eagles Quarterback Ron Jaworski. Other amenities include indoor and outdoor lap and leisure pools, indoor walking track, steam room, senior center, fitness center, outdoor amphitheater, kayak launches, and walking/biking trails.