Breaking Ground on Moorestown’s Future: Pearl Apartments Collection Brings Luxury Living to Historic Community
Today marks a milestone moment for Moorestown as shovels hit the ground at Pearl Apartment Homes, the township’s first ground-up luxury apartment development in over a decade. As the ceremonial dirt flew and local leaders gathered to celebrate, it became clear that this isn’t just another construction project—it’s an answer to a question the community has been asking for years: “How can we stay in the town we love when we’re ready for a different lifestyle?”
A Community Challenge Becomes an Opportunity
For years, Moorestown has faced a unique challenge. This historic Quaker community, once crowned “Best Place to Live in America” by Money Magazine, has watched as longtime residents reaching retirement age faced an impossible choice: maintain a large family home that no longer fits their lifestyle, or leave the community they’ve called home for decades.
The numbers tell the story. With 32% of Moorestown residents approaching retirement age and Burlington County luxury rentals maintaining a stunning 96% occupancy rate, the demand for upscale rental options has never been clearer. Wait lists at comparable properties stretch 3-6 months, leaving potential residents in limbo.
Enter Pearl Apartment Homes.
More Than Just Apartments: A Vision for Modern Living
Situated on West Route 38 adjacent to the bustling Moorestown Mall, Pearl’s 375 residences represent something special. This isn’t about cramming units into available space—it’s about creating homes that honor Moorestown’s 300-year heritage while embracing the future.
“Our investment creates immediate construction jobs and permanent positions at completion, while delivering a community that reflects Moorestown’s standard of excellence,” shared Thomas A. Leonard III, Chairman of Bel Canto Asset Growth Fund, during today’s ceremony.
The attention to heritage runs deep. Several floor plans carry names that longtime residents will recognize with a smile: “The Quaker” pays homage to the town’s founding settlers, while “The Camden” recalls the historic ferry connection that linked Moorestown to Philadelphia’s markets and culture centuries ago.
Designed for How We Live Today
Walk through Pearl’s planned amenity spaces, and you’ll see a community designed for 2026 and beyond. Yes, there’s the resort-style pool and state-of-the-art fitness center with yoga studio that you’d expect from luxury living. But there’s also a podcast studio—acknowledging how modern professionals blend work and leisure in ways previous generations never imagined.
Each residence showcases the details that matter: quartz countertops that can handle a cooking enthusiast’s passion projects, stainless steel appliances that combine style with functionality, hardwood-style flooring that brings warmth to modern aesthetics, and private outdoor spaces for that morning coffee or evening wind-down.
The variety of floor plans—from efficient one-bedrooms starting at 554 square feet to spacious three-bedroom homes exceeding 1,400 square feet—ensures there’s a perfect fit whether you’re a young professional starting out, empty nesters ready to downsize, or anyone in between.
A Local Leader’s Perspective
Perhaps no one understands Pearl’s significance better than Jennifer A. Nevitt, CEO of Bel Canto, who has called Moorestown home for the past 15 years.
“I’ve listened to neighbors at community meetings express frustration about having to leave Moorestown when they’re ready to downsize,” Nevitt explained at the groundbreaking. “Many are forced to leave the community they love. Pearl ensures they don’t have to choose between the lifestyle they want and the community they love.”
This personal connection to the community isn’t just talk. Bel Canto’s leadership lives here, works here, and understands firsthand what makes Moorestown special—from its tree-lined streets and historic downtown to its excellent schools and strong sense of community.
Location, Location, Connection
Pearl’s location offers the best of all worlds. Residents can walk to Moorestown Mall for shopping and dining, drive minutes to downtown Moorestown’s charming boutiques and restaurants, or commute easily to Philadelphia (just 25 minutes away) or Philadelphia International Airport (23 miles).
Major employers are nearby too. Lockheed Martin, Virtua Health, and Cooper University Health Care all maintain significant presences in the area, making Pearl an attractive option for professionals who value a short commute.
Mayor Quinton Law emphasized this economic impact at today’s ceremony: “Beyond offering living options to meet our growing community, this development represents a significant investment in our local economy, creating opportunities for businesses and strengthening Moorestown as a vibrant, thriving community for years to come.”
What’s Next for Pearl
With the ceremonial groundbreaking complete and construction already underway (the dedicated parking garage is already finished), the timeline is set:
- Now through Summer 2026: Construction continues on the residential buildings and amenity spaces
- Summer 2026: Pre-leasing begins, giving future residents the chance to select their new homes
- Fall 2026: First move-ins begin, welcoming Pearl’s inaugural residents
Given the current market dynamics—that 96% occupancy rate, those lengthy wait lists, and the limited pipeline of new luxury construction—industry analysts project rapid absorption of Pearl’s residences.
Joining Bel Canto’s Growing Portfolio
Pearl represents a significant addition to Bel Canto Asset Growth Fund’s portfolio, which includes successful communities in Limerick, Pennsylvania; Lebanon, Indiana; and Ocala, Florida. But for the company’s founders, Thomas A. Leonard III and Jennifer A. Nevitt, Pearl holds special significance as their flagship New Jersey investment—in the community they call home.
Be Part of Pearl’s Story
As construction progresses and Moorestown watches Pearl rise from the ground up, one thing is clear: this is more than a development project. It’s a commitment to community, a response to real needs, and a vision for how thoughtful development can enhance rather than replace what makes a town special.
For those interested in learning more about Pearl Apartment Homes or joining the VIP interest list for priority pre-leasing information,
Because in Moorestown, the future of luxury living isn’t just being built—it’s being crafted with the same care and attention to community that has defined this town for three centuries.
*For media inquiries about Pearl Apartment Homes, contact Liz Thomas at Liz@thomasboyd.com or Lauren Trent at Lauren.Trent@thomasboyd.
