New homes, new neighbors

Pearl Apartments in Moorestown, a curated collection of 375 residences developed by Bel Canto Asset Growth Fund LLC, held a ribbon cutting ceremony last month, giving an exclusive first look at what is set to be a distinctive residential complex in South Jersey.

“This ribbon cutting is not just a milestone for Bel Canto – it is a celebration of everything Moorestown represents,” said Thomas Leonard III, chairman of Bel Canto Asset Growth Fund LLC, on Sept. 22. “Pearl was built with intention, with craft, and with a deep respect for this community. We are thrilled to finally open these doors and welcome residents home.”

The Pearl’s amenity collection ranges from social and entertaining to wellness and fitness, work and productivity and convenience. Residents will have access to a parlor with gaming tables, a reflection courtyard with fire tables and lounge seating, a resort-style swimming pool complete with a sun deck, a fitness center with cardio and strength equipment, as well as a yoga/ballet studio and walking paths. Don’t forget the podcast and content creation room, conference rooms for presentations and video calls, seating zones for different work styles and a recreation lawn with bocce and cornhole courts, grilling stations and shaded pergolas. The Pearl is also pet friendly, complete with a pet spa, a dog park and a commons courtyard dedicated to pet play. Each residence is complete with a chef-inspired kitchen that features stainless-steel appliances, spacious closets, and flexible floor plans that accommodate everyday living and remote work. One, two- and three- bedroom layouts are available across the collection.

Seventy-five of the units are income-restricted as affordable housing. According to Moorestown Township, pursuant to a series of New Jersey Supreme Court decisions known as the Mount Laurel Doctrine, New Jersey municipalities have a constitutional obligation to provide a realistic opportunity for satisfaction of their “fair share” of affordable housing. That essentially means New Jersey municipalities may meet their fair share – also known as the affordable housing obligation – by creating the required number of affordable units or by adopting zoning that allows for the required number of affordable units to be developed. The township has a variety of affordable housing sites located throughout the municipality that provide more than 500 units of affordable housing. These affordable units include those for families, seniors, those with special needs and those that are for- sale and for-rent. These units are located in 100% affordable housing developments and in ‘inclusionary’ (a mix of market-rate and affordable units) housing developments. For Moorestown Mayor Quinton Law – who was joined by fellow council members Tom Bader and Sue Mammarella and Damian Gil, the township’s Director of Community Development – the ribbon cutting represented new homes, new neighbors and a new chapter.

“For years, I’ve heard from people in our community, people who work here, shop here, teach our children, and serve our community say the same thing, ‘I would love to live here, but I simply can’t afford to.’ And that matters because a community is as strong as when the people who contribute to its success have an opportunity to build their lives here,” Law said. “The building is here, the homes are here, and soon more people will be able to say something that thousands have hoped to say: ‘I live in Moorestown.’ To all the residents who will make their homes here, as a child that grew up in affordable housing in this town, I’m excited to welcome you home.”

Nestled adjacent to the Moorestown Mall, Pearl Apartments represents the culmination of years of visionary planning and community investment. With the Philadelphia International Airport just 23-miles away and major employers like Lockheed Martin and Cooper University Health Care nearby, the Pearl is positioned to serve the region’s most discerning residents. As of Sept. 22, there have been 6,000 inquiries from people who wish to call Pearl Apartments home.

“From the moment you step through the door, you’ll feel the difference – in the finishes, in the amenities and in the sense of community we’ve worked so hard to create,” said Jennifer Nevitt, CEO of Bel Canto Asset Growth Fund LLC. “Moorestown deserves nothing less. Every detail was chosen with our residents in mind.”