The Statehouse in Trenton
By Joshua Burd
A plan that would create 141 units of affordable senior housing in Totowa is advancing with the help of a $35.3 million tax credit award from the New Jersey Economic Development Authority.
According to a news release, the project involves the adaptive reuse of the former Little Sisters of the Poor facility at 140 Shepherd Lane. That would result in a mix of studio, one-bedroom and two-bedroom floorplans for residents who are 62 and older, plus amenities such as a fitness center, a library, multiple lounges and a multipurpose and dining room that are meant to provide a comprehensive and supportive living environment.
Its lead developer, Christian Health, secured approval for the Aspire tax credit on Wednesday during the EDA’s monthly board meeting.
“The Aspire Program continues to expand housing affordability and supporting projects that strengthen communities and uplift vulnerable populations,” said Evan Weiss, the authority’s CEO. “Supporting new affordable senior housing is critical to meeting New Jersey’s evolving housing needs, and this development will provide older residents with stable, accessible living spaces while helping build stronger and more inclusive communities.”
Officials noted that Christian Health has more than a century of experience in developing, operating and managing senior housing and health care facilities. The applicant, listed as Totowa Affordable Housing, is eligible for an award of up to 60 percent of the project cost, while the New Jersey Housing and Mortgage Finance Agency is also supporting the development with Low-Income Housing Tax Credits.
Aside from new housing, the project will include significant upgrades to the site and surrounding areas as part of the overall improvement plan.
“I am pleased that Christian Health Care will be taking over the Little Sisters of the Poor facility and I welcome them to Totowa,” said John Coiro, the borough’s mayor. “They will continue to offer assisted living facilities to those individuals in need. Additionally, the use of this property helps Totowa achieve its affordable housing obligations.”
Aspire is a place-based economic development program created under the New Jersey Economic Recovery Act of 2020 to support mixed-use, transit-oriented development projects with financing gaps, the EDA said. It is performance-based, meaning applicants must certify that all commitments established at time of approval have been met before receiving their first disbursement of tax credits.
