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TRUMP PENNSVILLE LUXURY VILLAS

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Trump Clean Energy Services

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Sydney Posh

Ach Sebastian

Jonathan Miller

Solomon Berger

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The subject property is a 79.13 acer development site in Pennsville, NJ. The Lot is located

off of South Hook Road and Lenape Drive. This site is located on wetlands, therefore not all of the

site is buildable. Approximately 33 acers of the site are wetlands, which also run directly across the

middle of the site. These wetlands lead to challenges with the building. We will discuss the building

plan and challenges in depth later on, but some challenges we will face will be subdividing the site

into two separate sites or building a bridge over the wetlands, as well as potential flooding issues.

Pennsville New Jersey is located in Salem county. Family households with the average

family size of 3.07 make up 69.4% of the homes in town. The other 30.6% are made of non-family

households. The median age in Salem county is 40.8 years old, with the median male age of 39.4

and female of 42.3. Salem county is made up of 48.7% males and 41.3% females of which 15% of

the residents are over 65 years of age. Salem county is a predominantly white county of which

79.8% of the residents fall into. African Americans make up 14.1% and Hispanics 6.8% of the

county. The remainder 3.8% of residents fall into other categories.

Pennsville, NJ Statistics

Population 11,311 Private

Companies

4,197 Average Income $76,311 Renter Occupied

Units

1,165

White Collar

Employee

3,850 Governmental

Employees

470 Median Income $62,200 Median Home Value

with Mortgage

$162,200

Blue Collar

Employee

1,603 Non-Profit

Employees

558 Owner Occupied

Units

3,275 Median Home Value

without Mortgage

$124,500

Self

Employed

Individual

228 Family

Households

2,868 Total Households 4,440 Median Monthly

Property Expenses

$1,211

Rental rates in Pennsville, NJ

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1 Bed 2 Bed 3 Bed

$1,000 Avg $1,100 Avg $1,300 Avg

Salem County has a very high occupancy rate of 92.2% of residential units. The residential

market gets subdivided into two sections rental units and owner occupied. The vacancy of rental

units is 8.8% whereas on owner occupied units it is only 1.9%. Therefore, we are going to develop

single family homes rather than rental units. We know that creating a supply of new homes might

increase the vacancy rate, due to the increase in supply. However, we plan to bring a very desirable

product the market. And hopefully these potential increases won’t affect our development in a

negative way.

The parcel is currently zoned for residential use and needs to remain that way until 2022,

before a possible zoning change. With the wetland running right down the center of the site, we will

subdivide the parcel into 2 separate development sites. One of which will give us 25.83 acers where

we will develop 75 single family homes. And the other a 10.77 acer site which we will develop 5

pad sites. We plan to form a condo association for this project to manage the property. We believe

having a condo association will allow us to provide a service to our clients to make sure they enjoy

the product to its intended purpose. After the sale of the home to its future owner the condo

association will collect a CAM charge on a monthly basis for the upkeep of the grounds of the

facility. Since the development will consist of single-family homes, this will allow us to set

standards and enforce them to ensure each resident is happy with the home they purchase. The

condo association will also own and operate the pad sites on the smaller development site.

Condo Association

Trumps Clean Energy Services Condo Association will be running the day-to-day operations

of the Trump Pennsville Luxury Villas. Each residential unit will be charged a condo association