After a 10-year effort to rezone and redevelop an industrial swathe of Bensalem Township, Phase 1 of Mignatti Cos' and Resmark Land and Housing's Waterside is breaking ground, bringing 176 homes to the riverfront. Expect homes in Phase 1 to range from 1,300 to 3,000 SF. (Also expect some killer sunsets for the homeowners, who will number close to 600 when the full development is completed.) Resmark SVP Alex Johns tells us that her favorite part is the natural amenities: 25% of the land will be preserved for trails and recreation, with existing wetlands restored and a marina, boating, and fishing facilities to be developed.
Above is Mignatti CEO Steve McKenna, whose firm's communities include 55-plus resort community Heritage Point in Barnegat, NJ; the Golf Club Estates in Warwick; and custom homes in Barnegat and Huntingdon Valley. Waterside is also very walkable and connects right to the Northeast Corridor—an example of an optimal site for infill that’s easy to overlook. Alex says Resmark will keep its eye on submarkets lacking in new residential product and at JVs with homebuilders like Mignatti that have established presence in their communities.
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