A rendering of The Mill at Riverside, a planned 190-unit townhome and apartment development in Riverside — Courtesy: Kokes Properties
By Joshua Burd
Kokes Properties has secured more than $19 million in financing for the first phase of a 190-unit residential project in the Burlington County township of Riverside.
The developer said the construction loan, which it closed with Provident Bank, will support the initial 126 rental homes at what’s known as The Mill at Riverside. Work is now underway for the project along South Fairview Street, which is a block from NJ Transit light rail service, at a site that once housed the William F. Taubel Hosiery Mill complex.
Clark McIntyre, Kokes’ vice president of operations, led the team sourcing the $19.25 million loan. Provident’s Greg Lamb is the loan officer.
Kokes, which is based in Brielle, welcomed public officials and other stakeholders late last year to break ground on the project. The firm said the design of the complex is inspired by the former garment factory, which once served as the town’s largest employer but was razed in 2006.
The municipality had sought to redevelop the property for more than a decade, but those efforts stalled until Kokes acquired the land in 2019 and presented a vision that struck a chord with local officials. The fully built property will also include a 3,000-square-foot clubhouse, parking and other resident amenities, with a location roughly 30 minutes from Center City Philadelphia.