Westminster Communities Named "Best Developer Of 2004" By NJPA Real Estate Journal

Westminster Communities, a diversified homebuilder in the Northeast with more than 50 years of experience in residential construction, has been named Best Developer of 2004 by NJPA Real Estate Journal. Westminster Communities is currently involved in projects ranging from large mixed-use redevelopments in communities such as Perth Amboy, Asbury Park (pictured is a rendering of Wesley Grove at Asbury Park), Cranford and Atlantic City, New Jersey, to deluxe townhomes, condominiums and single-family luxury homes, apartment complexes and active-adult communities.

Westminster Communities, a diversified homebuilder in the Northeast with more than 50 years of experience in residential construction, has been named Best Developer of 2004 by NJPA Real Estate Journal.

Westminster Communities is currently involved in projects ranging from large mixed-use redevelopments in communities such as Perth Amboy, Asbury Park, Cranford and Atlantic City, New Jersey, to deluxe townhomes, condominiums and single-family luxury homes, apartment complexes and active-adult communities.

"This past year has been an exciting one for us, with so many projects in progress throughout New Jersey, Pennsylvania and New York," noted Sam Gershwin, president of Westminster Communities. "It is an honor to have our efforts recognized by NJPA Real Estate Journal, a publication that is itself a leader in the commercial real estate industry."

Westminster Communities currently has an expanding portfolio of construction projects that are laying the groundwork for more than 1,000 residential units and thousands of square feet of retail space spread across three states.

Award-Winning Urban Redevelopment

"Westminster Communities is involved in some of the most exciting urban redevelopment projects in New Jersey," noted Gershwin.

One of the largest, The Landings at HarborSide, is a $600 million waterfront project in Perth Amboy, encompassing 49 acres, 2,100 residential units and 150,000 square feet of retail space. The Landings features pedestrian-friendly neighborhoods of townhouses and mid-rise luxury units interwoven with shops, recreation areas, parks, a marina and a future hotel site. Westminster began construction of the first residential building in October 2004, and it was virtually sold out within weeks of initial marketing. Construction has begun on the second residential building, and a priority wait list has been formed. Construction of a 6,000-square-foot health club has also begun.

Westminster Communities is also serving as a sub-developer in another landmark redevelopment effort: Oceanfront Asbury, a 56-acre, mixed-use waterfront project in Asbury Park. As developer of the Wesley Lake District, Westminster plans to construct a total of 750 residential housing units and approximately 20,000 square feet of retail space. Construction of Phase I was launched in the fall of 2004.

Also in progress this year is Cranford Crossing, a mixed-use development with 22,000 square feet of retail, 50 condominiums and a 310-space parking garage. The project occupies a prime location adjacent to Cranford's train station. The three- and four-story buildings will feature many luxury services, including an exercise room and other amenities. The Elizabeth Arden Red Door Spa Holdings recently signed a long-term lease to anchor the retail portion of Cranford Crossing. In addition, Westminster, in partnership with Cranford, is developing the first municipally owned parking garage in Cranford as part of the overall redevelopment.

"We are proud to be a part of these initiatives to help revitalize the state's urban centers," noted Gershwin.

A Home for Every Buyer

Urban redevelopment is not the only focus of Westminster's efforts this past year. "Part of the Westminster Communities philosophy is to provide homes that satisfy diverse demographics and lifestyles," Gershwin added. In Pennsylvania, for example, Westminster is developing a community of 86 single-family homes averaging 2,500 square feet each, within the planned residential development known as Pinecrest Lake Golf & Country Club in Pocono Pines. Construction is underway on the first homes in this luxurious community, which surrounds a championship golf course and includes a 77-acre pristine lake, outdoor heated swimming pool, plus many other recreational amenities.

For older adults, Westminster is now completing work on Waterford at East Brunswick, New Jersey, a 10-acre property with 148 luxury condominiums designed for adults 55 and older. The distinctive one- and two-bedroom units are located in a secure four-story building. Centrally located within the community is The Waterford Club, offering a host of recreational amenities including a state-of-the-art fitness center, Great Room with fireplace, fully-equipped business center and library, a theater, and a card and billiards room. Outdoor amenities include a heated swimming pool, gazebo, and lushly landscaped courtyard.

"The award from NJPA Real Estate Journal is testament to the speed of our progress on these projects and the quality of our work," said Gershwin. "We expect 2005 to be an even greater year as we continue to move ahead in creating communities for people of all ages, interests and lifestyles."