WinnDevelopment has launched $33 million in renovations to significantly upgrade the Garden Court Apartments in Atlantic City, New Jersey.
The firm, the development arm of WinnCompanies, and New Jersey nonprofit Gateway Community Action Partnership (CAP) acquired the 20-building, 177-unit complex in February, paying off more than $10 million in debt and securing low-income housing tax credit (LIHTC) financing to convert the rent-controlled community into deed-restricted affordable housing for the next 45 years.
“This acquisition-rehab will dramatically improve the apartments, community spaces, and property at Garden Court, while strengthening opportunities for residents to pursue a better quality of life,” said WinnDevelopment senior vice president David Ginsberg, managing director of the New York/New Jersey region. “We greatly appreciate our ongoing collaboration with Gateway CAP and the strong support of our public and private-sector partners.”
With 135 one- and 42 two-bedroom apartments, Garden Court has helped house Atlantic City’s workforce since 1985, when it was built with financing from the New Jersey Housing and Mortgage Finance Agency (NJHMFA) and the Atlantic County Improvement Authority (ACIA). It has been a key source of affordable housing for local residents, including the area’s many hospitality industry workers.
The rehabilitation project has earned support from Atlantic City in the form of a payment-in-lieu-of-taxes agreement and new LIHTC financing from NJHMFA. Boston Financial purchased the housing tax credits.
In addition, the acquisition marks the first use of the New Jersey Economic Development Authority’s Aspire tax credit program in Atlantic City.
Gateway CAP will provide services that connect residents with resources promoting self-sufficiency, including education and employment opportunities and financial literacy services.
“Gateway Community Action Partnership and WinnCompanies have built a strong and impactful partnership through multiple development projects across Southern New Jersey. Each initiative has presented its own set of opportunities and challenges, and, together, we have consistently delivered high-quality, supportive living environments for the families we serve,” said Gateway CAP president and chief operating officer Edward Bethea.
The rehabilitation will include upgraded kitchens, bathrooms, and flooring in all apartments; new windows, siding, balconies, and roofs for all buildings; and the installation of new energy-efficient HVAC systems, electrical panels, and security features.
Interior improvements include a new community room, upgraded laundry facilities, and refreshed common spaces with new finishes and lighting. Outdoor upgrades will feature improved walkways, new landscaping, enhanced site lighting, and added amenities such as bike racks and upgraded parking areas.
“Garden Court presented an opportunity to preserve and enhance a critical affordable housing asset serving long-term residents. Our goal is to ensure the property remains a high-quality housing option for Atlantic City residents, while minimizing disruption during construction,” said WinnDevelopment associate vice president Chanda Dawadi, who is overseeing the project.
TN Ward Co. is the general contractor, and KMA Design Studio is the architect.
The occupied rehabilitation is being supervised by WinnResidential, the property management arm of WinnCompanies, in partnership with HousingToHome, a Boston-based relocation expert. Work is expected to be completed in fall 2027.