Value Cos. begins phase two of Northwoods in Wallkill

Construction is underway on the second phase of rental homes at Northwoods, the new offering of one and two-bedroom garden style apartments being developed in the Orange County. The new rental buildings - which represent the balance of the community's 70 homes - are expected to be completed and ready for occupancy by the end of this year, according to Jack Linefsky, VP of property management for the Value Cos., developer/owner/manager of Northwoods. "The first phase of this rental community is fully leased and we are excited to be able to offer more apartment homes to the public. There has been great interest and a large demand for these homes and we are looking forward to continuing this success in the second phase," said Linefsky. "The fact that we've successfully leased all of our homes in the first phase in such a short time validates our belief that offering modern apartments at affordable monthly rents and in desirable, commuter-friendly locations will have a strong appeal to young couples, families and single-professionals." Apartment homes in the second housing phase have already been reserved during the pre-leasing period months before its final buildings are complete, which is a remarkable milestone. Northwoods will consist of seven rental buildings on a professionally managed and landscaped site, with access-controlled entries to each building. Homes will range from 800 to 1,100 s/f and have washer and dryers, individually controlled central air and heat, fully equipped kitchens and walk-in closets. Additionally, each unit will also feature a balcony or patio. For additional information on Northwoods, please call (845) 342-3007, email [email protected], or visit www.valuecommunities.com. About Value Companies Value Companies, founded in 1952, is a leading real estate development, investment and management company headquartered in Clifton, N.J. The company currently owns and manages a portfolio of approximately 3,000 residential units located throughout New Jersey, Pennsylvania, and New York. Across its development division, Value Companies has embarked on $50 million in new apartment developments and investments in strategic suburban and urban locations throughout the country. Value's development success is directly tied to its steadfast commitment and expertise in multifamily housing, and its ability to introduce new housing products that address consumer and community needs. Value's residential properties are built and managed by a highly-skilled, in-house management team of more than 80 industry professionals which oversee all aspects of Value's communities, including construction, leasing, maintenance, property management and administration. Value's third-party management business, Value Asset Management (VAM), provides full-service management capabilities and customized asset solutions to a growing list of third-party real estate investment and property owner clients. Value Companies was also recently named Management Company of the Year for 2011 by the New Jersey Apartment Association. For more information, please contact Andrew Abramson, President and CEO of Value Companies, at its corporate headquarters at 973-473-2800 or visit www.valuecompanies.com.