The Grove Apartments

RiverCove Apartments asks West Deptford Township to lift age restriction

WEST DEPTFORD TWP. — The financially-strapped RiverCove Apartments is asking for township permission to lease to anyone— not just tenants age 55 and over, and the township planning board has agreed to make a recommendation that the committee lift the restriction.

The Grove Road complex, developed by Grove Street Realty Urban Renewal LLC, has leased 34 of its 199 units — an occupancy rate of just over 15 percent.

Thomas E. Hedenberg, managing member at Grove Street Realty, requested the leasing change in a letter prior to the planning board meeting Tuesday night and during a presentation in front of board members.

In the letter, Hedenberg asked the planning board— who originally approved the project— to recommend that the township committee remove the age restriction for the one and two-bedroom apartments.

According to Hedenberg, when the project was first approved, 55 and over communities were popular. Grove Street Realty filed for bankruptcy last July saying it was “unable to pay its debts as they mature.”

“It’s been an economic hurdle,” Hedenberg said Tuesday before the meeting.

But, he pointed out, that these hurdles are not inherent to RiverWinds, West Deptford or even New Jersey.

“The issue of selling or leasing age-restricted housing is not just related to the Rivercove Apartments, it is a national issue and housing and real estate experts across the country are aware that the age-restricted housing sector is the worst performing of all of the various housing and demographic sectors in the United States,” he said in the letter.

By lifting the restriction, Hedenberg said he knows business would improve.

“It will open up the parameters of our market as far as potential new tenants,” he said. “We know it will greatly expand our leasing opportunities,” adding that at least five to six people per week, mostly ages 25-45, expressed interest in RiverCove.

After listening to Hedenberg's presentation, the planning board did have some concerns including parking availability and pricing, future site review and the possible use for the vacant lot also owned by Grove Street, all of which were mentioned in the recommendation.

Hedenberg said he hopes the township will review the plans and consider opening leases up to everyone.

“You have to be resilient if you want to survive,” he said. “You have to change things.

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