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The 96-unit development at 881 Meadowbrook Lane was built in 1987 and is situated on 4.25 acres. The complex features 96 one-bedroom units in two-story row apartments.
The first phase is for a 14-acre portion that received initial regulatory approval for 900,000 square feet of new development from the Boston Planning and Development Agency in March 2018.
The program has become a focal point in Starpoint Properties' portfolio, showing a great enough promise in potential tax benefits to overcome challenges with understanding the unfolding tax program and its regulatory guidelines.
The complex is currently 94% leased to tenants that include NJ Default Group, LLC, Terminix International Co., The McSweeney Agency and Starlight Homecare Agency.
The US Senate on Thursday passed a spending bill that will provide a total of $86.2 billion to the U.S. Department of Transportation, which will help fund a number of key transportation priorities for New Jersey.