Mayor Sharon Robinson-Briggs Presides Over Event Attended by More Than 300 Local Residents

PLAINFIELD, N.J., May 21, 2009 – More than 300 dignitaries, community leaders and local residents recently attended the dedication of the Plainfield Senior Citizen’s Center and Veterans Meeting Hall at The Monarch, a newly built condominium community and an integral part of the city’s urban redevelopment initiative. The program, hosted by Plainfield Mayor Sharon Robinson-Briggs and developer P&F Management Company, LLC, was held at the newly completed mixed-use community, located at 400 E. Front St., in Plainfield.

The Monarch, a highly anticipated development, which is slated for summer occupancy, features 63 upscale condominium units as well as the new street-level senior center and a separate veterans center. The spacious community meeting places, valued at more than $2 million, have a combined total of 15,526 square feet and were built at no cost to taxpayers or the city.

“The Monarch is more than just a place to live. It is more than a senior center. It is more than a veterans center. It is the focal point of a community where people of all ages, backgrounds and life experiences can come together as one,” said Glen Fishman, founder and chief executive officer of P&F Management, based in Hillside, N.J.

Plainfield Mayor Sharon Robinson-Briggs served as keynote speaker and officiated the ribbon-cutting event at the senior center. As part of this on-going celebration, The Monarch also is hosting its Grand Opening for the condominiums on Sat., May 30 and Sun., May 31 from 11 a.m. to 5 p.m. each day. In addition to complimentary refreshments and tours of the professionally decorated models, attendees can enjoy popular musical selections performed by a local jazz ensemble. Mortgage consultants also will be available to provide free, expert advice to prospective homebuyers.

“This is an exciting time at The Monarch and a unique opportunity to shape the future of this community, its lifestyle and the surrounding neighborhood,” said Debbie Bertino, P&F’s vice president of sales and marketing.

The Monarch, which recently earned approval from the U.S. Department of Housing and Urban Development (HUD), features two-bedroom, two-bathroom condominiums offering 1,120 to 1,289 square feet of living space. In addition to its HUD designation, the community offers first-time homebuyers an opportunity to take advantage of the new federal housing tax credit of up to $8,000 for a home purchased by December 1, 2009. Pricing at The Monarch starts in the low $200,000s, which is lower than any other new development of its kind in the area.

The Monarch is one of several urban projects being developed by P&F Management throughout New Jersey. These include The Vistas at Great Falls in Paterson and Rahway Transit Village. Since 2007, P&F has acquired more than 1,500 residential units, many of which have been built out and sold despite the current economic downturn.

For information about The Monarch Grand Opening, contact the Information and Marketing Center at (908) 755-0055.