A dated housing complex on Atlantic City’s west side is slated to get a major facelift thanks to an incentive award that will help pay for extensive renovations.
New Jersey’s Economic Development Authority (NJEDA) recently announced a $53.3 million incentive award to Garden Court AC LLC, an affiliate of WinnCompanies. Their plan aims to modernize 177 affordable rental units at 1425 McKinley Avenue, which sits not far from major attractions like The Borgata.
The NJEDA granted the award under their Aspire tax credit program, which will cover up to 85 percent of the project’s $62.8 million total cost. The renovation project is also supported by Low-Income Housing Tax Credits through the New Jersey Housing and Mortgage Finance Agency and other sources.
“Under Governor Phil Murphy’s leadership, New Jersey continues to make meaningful investments into projects that revitalize downtowns and main streets, expand access to affordable housing, and support long-term economic growth,” said Tim Sullivan, the authority’s CEO. “The latest approvals under the Aspire Program will create hundreds of affordable housing units, building stronger, more resilient communities that will benefit New Jersey residents for decades to come.”
Winn’s rehabilitation of the 20-building complex involves partnering with nonprofit Gateway Community Action Partnership, which aims to connect residents with resources to promote self-sufficiency.
In terms of the renovation itself, plans call for the refurbishment of kitchens and bathrooms across all units plus new windows and roofs on all the buildings at the complex. Upgraded energy-efficient HVAC equipment, an upgraded electrical panel and the replacement of exterior siding will also be part of the work.
The complex will also be getting resurfaced parking lots, new signage, new sidewalks, new bicycle racks and mailboxes, and fresh security fencing. Winn also plans to convert an existing maintenance storage room at the property into a new community room with a laundry facility, according to the NJEDA.
“The Small administration is in full support of this project and is very glad to see it moving forward,” Atlantic City Mayor Marty Small Sr. said. “We often talk about improving the housing stock in the great City of Atlantic City, and this project further demonstrates that we say what we mean and mean what we say.”
Work on restoring Garden Court is scheduled to start as early as next month. A timeline for completion has not been announced.
