Matrix Residential Properties, the residential division of Matrix Development Group, is engaged in the development of various types of residential projects that include low, medium and high density open market and age restricted housing, golf community housing, mixed use and urban redevelopment.Matrix has enjoyed a long history of designing and redesigning projects. It looks for opportunities to which it can bring its resources and apply its expertise to create value. This includes selecting the project and the development team, identifying the sensitivities of the site and the community, positioning the project within the marketplace, and taking it through the approval process. Matrix has constructed thousands of residential units, but its current philosophy is to partner with companies at time of construction that bring specific and proven expertise to best implement the plan.
Our philosophy is that every piece of real estate and every project we undertake has a unique set of qualities. As such, we take the time up front to think "outside of the box" and explore all possible development alternatives. An example of this is the residential housing at the famed Forsgate Country Club, which was owned by Matrix for over fourteen years. When Matrix purchased Forsgate, the 500 plus acres were zoned for commercial office development. Matrix realized that the area suffered from a void of varied housing stock and that the golf course setting would provide a unique backdrop for residential use. Matrix then designed and pursued the adoption of a new cluster ordinance, the first such ordinance ever in Monroe Township that allowed Matrix to build hundreds of high end patio homes, detached single family homes, duplexes, and villas around the golf course.Another example of Matrix unique development process can be seen in its approach towards "The National at Old City", a mixed use development located in Philadelphia that is woven into the most historic section of the City and under the careful watch of community groups, preservationists, artist groups and historic organizations. Prior to our arrival, others unsuccessfully attempted to develop this almost 2.5-acre site spanning throughout two city blocks and considered to be the largest private assemblage of property in Old City. Matrix realized "up-front' that any project could only move forward with the support and endorsements from all of the special interest groups. "The National at Old City" was designed, and received all approvals, only after hundreds of professional hours, and a significant financial investment, was made to fully understand how our project would fit within the history of Old City, both past and future. Currently under construction, this project consists of over 300 lofts and townhouses, 25,000 square feet of retail and parking for over 300 cars.
Besides our background and success in "sticks and bricks" projects, Matrix is involved in other types of development and redevelopment. In conjunction with the recent purchase of two large office buildings in New Brunswick, Matrix has embarked on an extensive urban investment and development initiative. It currently owns residential redevelopment projects in New Brunswick, Newark and Philadelphia with future projects in other cities from New Jersey to Wilmington, Delaware. Matrix looks forward to expanding its base in those cities and entering new markets to which it can make investments and deploy its development expertise.
Matrix Residential Properties contributes its success to several factors: the experience of the company; the professionalism of its development team; the ability to rely on the company's wide expertise in all areas of real estate development; and its philosophy that each project is individual and requires a complete understanding of the marketplace and community.
