Seventy three apartments plus new businesses are changing a section of downtown Swedesboro. It's part of a growing real estate trend that combines housing, shopping and services in the same walkable area.
Something interesting is happening in downtown Swedesboro.
The Nyckel mixed use development has brought 73 apartments across three buildings plus six street facing commercial spaces to Kings Highway. Three of those storefronts now have announced tenants: Jersey Mike's, Norris & Co. Barbershop and Align & Define Reformer Pilates.
At first glance, that might sound like a simple “new businesses coming soon” story.
But from a real estate perspective, it's much more interesting.
Developments like Nyckel represent a shift toward creating places where people can live closer to restaurants, services, shopping and community activity.
And that's something I hear buyers talking about increasingly.
Not every buyer wants a large house on a large suburban lot.
Some absolutely do.
Others want something different.
They want to walk for coffee.
They want restaurants nearby.
They don't want to maintain a big yard.
They may want to be close to community events and have the feeling of living “in town.”
Older homeowners may want to downsize but don't necessarily want to leave the community.
Young professionals may not be ready for a detached home.
People relocating to South Jersey may find downtown environments easier to connect with socially.
That creates demand for different types of housing.
And that is good for real estate markets.
Healthy communities need choices.
The traditional South Jersey housing stock includes everything from older twin homes and rowhouses to sprawling suburban developments, condominiums, townhouses and luxury properties.
But many communities still have a gap between large detached houses and traditional apartment complexes.
Mixed use development can help fill part of that gap.
There's another side to the story.
Adding residents directly downtown creates potential customers for existing businesses.
Someone who lives upstairs may buy dinner downstairs.
They may stop at the coffee shop on their walk home.
They may use a nearby salon, gym or small retailer.
That doesn't guarantee success for every business, but having residents nearby creates built in activity.
For property owners, these changes are worth watching.
Commercial investment can be an indicator that businesses believe people will continue spending time and money in a particular community.
New housing can create additional activity.
But development also needs to fit the scale and character of the town.
Parking, traffic and architecture still matter.
Again, the key isn't simply “development is good.”
The better question is:
Does the development make the community function better?
As someone who works throughout Burlington, Camden and Gloucester Counties, I find these changes fascinating because every South Jersey town has its own identity.
Swedesboro should not look like Cherry Hill.
Collingswood should not look like Mount Laurel.
Medford should not look like Glassboro.
The communities people love most often have a strong sense of place.
The challenge is allowing them to evolve without erasing what made people love them.
That's why developments like Nyckel are worth watching.
Real estate is not standing still.
And increasingly, buyers aren't just asking:
“What kind of house can I buy?”
They're also asking:
“What kind of life can I have when I live there?”
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