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VALUE COMPANIES BEGINS SITE IMPROVEMENTS ON 70-UNIT RENTAL COMMUNITY IN ORANGE COUNTY’S WALLKILL

Friday, August 27, 2010 /

Wallkill, N.Y. – Value Companies, one of the Northeast’s leading developers, owners and managers of multifamily properties, began site improvements on a new apartment community in the Orange County Town of Wallkill.

Called Northwoods, the new enclave will consist of 70 one-and two-bedroom garden-style apartment homes spread across a 35-acre site, according to Jon Moore, Vice President of Business Development for Value, which owns and manages its own portfolio of 3,800 residential units in New Jersey, Pennsylvania, New York, Texas and Florida.  Pre-leasing for the first housing phase is expected to begin Spring 2011.

            “Value Companies will continue efforts to expand our portfolio of apartment communities in the northeast by identifying key growing, commuter-friendly locations and introducing new construction ‘lifestyle’ neighborhoods that combine high quality apartment homes and a comprehensive offering of on-site recreational amenities,” Mr. Moore points out.

            “It’s a formula that’s proving to be a success.  This community will follow in the footsteps of The Point at Sutton Hill – a brand new apartment community we unveiled last year in the neighboring Town of Middletown – to a tremendous response with 100% of its initial phase already leased; and subsequently, we’ve accelerated our construction phasing plan to mirror the demand.”

            Northwoods will consist of seven rental buildings on a professionally landscaped and managed site.  Homes will boast modern appointments and features. 

On-site recreational amenities and a multi-use outdoor recreational area will be available to residents.  Local sites in the Town of Wallkill consist of twelve parks and recreational areas, including the public Town of Wallkill Golf Club.  The historic Hudson Valley region is also home to a variety of recreational, cultural and entertainment opportunities, such as performing arts venues, wineries, historical attractions, museums, fine shopping and a host of state parks and outdoor activities. 

“Shopping can be found minutes away at the Galleria Mall,” Mr. Moore says.  “We’re also a quick trip from Route 84 and the New York State Thruway, making commuting to destinations in northern New Jersey and Manhattan convenient; and public transportation is available nearby at the Metro North Railroad.”

For additional information on Northwoods, please call (973) 473-2800 or visit  www.valuecommunities.com

About Value Companies

Value Companies, founded in 1952, is a leading real estate development, investment and management company headquartered in Clifton, N.J.  The company currently owns and manages a portfolio of 3,800 residential units located throughout New Jersey, Pennsylvania, New York, Texas and Florida.

Across its development division, Value Companies has embarked on $100 million in new apartment, condominium and mixed-use developments and investments in strategic suburban and urban locations throughout the country.  Value’s development success is directly tied to its steadfast commitment and expertise in multifamily housing, and its ability to introduce new housing products that address consumer and community needs.

Value’s residential properties are built and managed by a highly-skilled, in-house management team of more than 80 industry professionals, which oversee all aspects of Value’s communities, including construction, leasing, maintenance and property management.  Value’s third-party management business, Value Asset Management, provides full-service management capabilities and customized asset solutions to a growing list of third-party real estate investment and property owner clients.

For more information, please contact Jonathan Moore, Vice President of Business Development at Value Companies’ headquarters at 973-473-2800 or visit www.valuecompanies.com.



Published by : George Cahn
George M. Cahn
President
CAHN Communications
gcahn@cahncomm.com
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