Jacob Fisher

Pennrose Properties

By Erica Rascón on Mar 24, 2014 in People

The talents of Jacob Fisher of Pennrose Properties are getting noticed. Fisher recently received Philadelphia Business Journal’s “40 Under 40” distinction. The honor recognizes his business success, community involvement, leadership ability, and influence.

“It’s not surprising that Jacob was selected for this terrific award,” says Mark H. Dambly, president of Pennrose Properties, a Yardi client. “From day one, we were impressed by his willingness to take on any challenge and his desire to give back to the community. Jacob exemplifies Pennrose’s commitment to develop communities and homes, not just construct buildings.”

Fisher serves as the Senior Developer for Woodrow Wilson Commons, a new community of townhomes and apartments in Long Branch, New Jersey, being developed in partnership with the Long Branch Housing Authority. Generally, constructing a community in flood-prone lowlands is not the best idea. Fisher and his team tackled the topographical challenge with skill and creativity.

Woodrow Wilson Commons rests on a 14-acre site that is the low point for nearly 35 acres. This places a heavy burden on storm water infrastructure. To naturally accommodate the flow of water, Fisher’s team constructed a retention basin spanning more than an acre. The community also received a rain garden, the more aesthetic cousin of the retention basin, complete with beautiful water-loving plants. These natural water conduits pace drainage and direct much of the excess water downward rather than pooling near the surface.

“It’s a green and forward thinking way to manage storm water on the site,” says Fisher. “We also raised the finished floor levels of all of the buildings above any of the flood elevation, so that in the event that there are catastrophic rains, we have designed the site to keep the units dry.”

Over a year of research and planning was needed to make the acreage inhabitable. With uncanny timing, superstorm Sandy swept through the region just as City of Long Branch officials evaluated Woodrow Wilson Commons’ permits.

A city ravaged by storm water turned a critical eye to the new community. You can’t take storm stricken residents and place them into another disaster prone area. The pressure was on. Fortunately, thorough planning paid off. The project received approval.

“It’s a testament to the City of Long Branch that the code officials–in the midst of the work that they were doing around storm recovery, vying for permits to fix things, raise things to comeback from the damage of Sandy–that they also found time to get our permits done so that we can get under construction and provide a new housing resource as soon as possible,” says Fisher.

Now in its third phase, Woodrow Wilson Commons will be home to 173 units. Priority is given to families who are registered with FEMA or those whose primary residence is no longer inhabitable because of Sandy damage. The community will be completed fall 2014.

Woodrow Wilson Commons’ success follows on the heels of another regional breakthrough for Pennrose. Also with Fisher as Senior Developer, John C. Anderson Apartments opened its doors in January. The community is the first LGBT-friendly, affordable senior housing community on the East Coast.

The community is a cultural milestone, and is a result of the right opportunity in a ripe environment. “There was tremendous local support for the development. We have a nonprofit partner on this project, the dmhFUND, who had been spending the better part of a decade doing the shoe leather work to line up the political support and city support that was needed to get the deal done. Those components made the time right for a project like this,” says Fisher.

The 56-unit community is nestled in Washington Square West, Philadelphia’s popular Gayborhood.

“For Pennrose, it was a fantastic project to be a part of because it’s in our backyard,” says Fisher. “We’re a Philadelphia-based company that has been doing business here for over 35 years. To do a project of this national prominence in our home town is a special opportunity for us.”

The best opportunities are realized through good management. With team members like Fisher, Pennrose Properties has positioned itself to embrace a future of stellar possibilities.