Community Investment Strategies Inc. joined public officials on May 7 to break ground on The Willow, a planned 36-unit affordable senior housing project at 1033 Willow Ave. in Hoboken. From left: Hudson County Commissioner Anthony Romano, state Sen. Raj Mukherji, Community Investment Strategies Founder and CEO Christina Foglio, Mayor Emily B. Jabbour, Congressman Rob Menendez, Hudson County Executive Craig Guy and 5th Ward Councilman Phil Cohen. — Courtesy: Community Investment Strategies
By Joshua Burd
Community Investment Strategies Inc. has broken ground on a 36-unit affordable senior housing project in uptown Hoboken, the first of its kind in the city in more than three decades.
Known as The Willow, the planned six-story building at 1033 Willow Ave. is slated to open in fall 2027 with a mix of studio, one-bedroom and two-bedroom homes. Plans also call for a ground-floor community activity room and fifth-floor library, in a project that would bring new life to a former surface parking lot and what was the site of a deadly fire in 1973.
The developer joined elected officials from every level last week to mark the milestone.
“Making sure our seniors can continue to live in Hoboken has been a priority, and The Willow shows what is possible when people come together around that goal,” Mayor Emily B. Jabbour said. “This has been years in the making and has been driven by partners and community members who care deeply about this city. Because of that work, more of our seniors will be able to stay here close to the neighbors, friends and places that make Hoboken home. I am grateful to our partners at every level, along with our city council and community development team, for their dedication to making this happen.”
According to a news release, the development is designed to help older residents find affordable homes in Hoboken amid rising regional housing costs and limited affordable options. The building will serve households 55 and older and earning 80 percent or less of the area median income, with at least half of the units reserved for households earning 50 percent of AMI or less and roughly 13 percent reserved for those earning 30 percent of the benchmark.
CIS is partially funding the project with $500,000 from the city’s Affordable Housing Trust Fund, the news release said. It also includes construction and permanent financing from the New Jersey Housing and Mortgage Finance Agency, as well as Low-Income Housing Tax Credit equity through Enterprise Community Partners.
Additional funding sources include Citizens Bank and the Hudson County HOME Investment Partnership Program.
“We are pleased to join with Hoboken Mayor Emily B. Jabbour and members of City Council as we break ground on a new, age-restricted apartment community that when complete, will enhance the fabric of the neighborhood,” said Christiana Foglio, founder and CEO of Community Investment Strategies. “Thank you to the City of Hoboken for their continued support and commitment to make this possible.”
As the development team noted, the site at 11th Street and Willow Avenue was once home to a tenement building destroyed by a fire in 1973 that claimed the lives of 11 residents. The property later became a city-owned parking lot and, over the past six years, has been the focus of redevelopment efforts by Hoboken’s Department of Community Development.
“Today’s groundbreaking reflects our city’s sustained commitment to use Hoboken’s public lands to serve our community,” Hoboken 5th Ward Councilman Phil Cohen said. “Like a phoenix rising from the ashes of a tragic fire on this site, this fully affordable senior housing complex will rise up, sustain and nourish our seniors who live on fixed incomes. This will become a beautiful housing development in a great neighborhood, with easy access to public transportation, perfect for our seniors, who want to stay in the city they love, but are concerned about the cost of living.
“I’ve focused on this project for six years, both as a member and chair of the council’s community development subcommittee. I can’t wait for the ribbon-cutting ceremony when we fully realize our vision for this essential project.”
The development team includes RAMAS Contractors LLC, KNTM Architects, Matrix New World Engineering, Dilworth Paxson LLP, MaGrann Associates, Kenny Environmental Services, and others.
“The project is Hoboken’s first 100 percent affordable senior housing development in more than three decades, a truly historic milestone for our city,” Assemblyman Ravi Bhalla said. “It began taking shape in the early years of my administration, and for eight years we worked tirelessly to secure the support and approvals needed to bring it to life. I couldn’t be prouder to see this vision become a reality today. I want to especially thank the many partners who helped carry this project across the finish line, including Director Chris Brown and Vanessa Falco from the Division of Housing, who brought this idea to me in the early days of my administration.”
The Willow will incorporate high-efficiency and sustainable design features, including ENERGY STAR-certified apartments and Zero Energy Ready Home design standards, along with central heating and air conditioning, modern appliances and on-site laundry, the news release said. The elevator building will also provide convenient access to local transit and include 24-hour emergency maintenance services.
“County government works best when we partner with our municipalities to deliver for our residents, and this development is a result of that partnership,” Hudson County Executive Craig Guy said. “Working with Mayor Jabbour and our Board of County Commissioners, we were able to secure $2 million for this senior affordable housing project. I will continue working with our municipalities to increase affordability for our residents and deliver results throughout Hudson County.”
Last week’s groundbreaking included statements of support from several other elected officials including:
Assemblywoman Katie Brennan:
“Developments like 1033 Willow Avenue help ensure that longtime members of our community can age in place with dignity and affordability, without being displaced by the rising costs we’re seeing across New Jersey.”
State Sen. Raj Mukherji:
“At a time when affordability is top of mind for so many, this project helps bridge New Jersey’s dual cost of living and housing crises: challenges that have hit our urban communities especially hard. The Willow will deliver 36 essential housing units that will allow people who have built their lives in Hoboken to remain in their community without being priced out, while maintaining easy access to vital public transit and other services our seniors rely on.”
Congressman Rob Menendez:
“It’s an honor to join Mayor Jabbour and County Executive Guy to break ground on this new affordable housing project for our seniors in Hoboken. Every senior deserves to spend their golden years in the communities they have lived in and have contributed so much to. With this project — made possible in part through federal funding — more of our seniors will now be able to do exactly that.”
