About the Zurbrugg Project

Grapevine Development is overseeing the Redevelopment of The Zurbrugg Mansion. Designed by Frank Furness in 1912, and built shortly thereafter for the Zurbrugg family, it is a brick and stone mansion, overlooking the Delaware River in the Township of Delanco. The neighborhood is 100% residential, with an aging population and a wide range of incomes. Directly across the street, bordering on the riverfront, are lots that have been retained by the township and are restricted from development under the state’s Green Acres program.

Grapevine’s subsidiary, Zurbrugg Partnership, acquired the Mansion, and the adjacent Carriage House, from the township in June 2008 as part of a Redevelopment Agreement. Most of the building’s original architecture has been preserved to-date, and the property has since been listed on the National Register of Historic Places.

The property has been subdivided into ten building lots, allowing for construction of eight townhomes in addition to the renovated Mansion and Carriage House. The plan for the Mansion calls for creating 27 Independent Senior Apartments, which will be accomplished by reconfiguring the bedrooms in the main building and extending on to the rear addition. The livable space of each unit will be expanded, along with the addition of kitchens and dining areas. All of the units will be set aside for a mix of affordable housing. The target population will include aging residents from the township, as well as from the adjacent communities.

The property has been acquired with conventional financing, with significant funds needed to complete the renovations. The financing plan consists of NJ Balanced Housing Funds, Burlington County Home dollars, Township Affordable Housing Trust Fund money, and funds from the Federal Home Loan Bank’s Affordable Housing Program. A Payment-in-lieu-of-taxes (PILOT) Agreement has been reached with township to provide tax abatement to the residents. In addition, equity will be provided through the sale of Historic Tax Credits. The total project costs for the Mansion redevelopment are expected to exceed $5 Million.

Construction on the Mansion renovations began in December 2009 is estimated to take eight-to-ten months to complete. The building should be fully occupied by September 2010. Construction of the townhomes and the renovation of the Carriage House is expected to begin in early 2011.

 

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