By Joshua Burd
The state has announced two new approvals under the Aspire tax credit program, pledging a combined $45.4 million to affordable housing projects in New Brunswick and West Deptford.
According to the Economic Development Authority, which approved the awards this week at its monthly board meeting, the proposals include up to $20.1 million for a 66-unit building by Hoffman Housing Urban Renewal Associates LLC. The developer, an affiliate of Pennrose, will construct the age-restricted Hildebrand Commons property at 75 Neilson St. on a site that once housed the Hoffman Pavilion public housing facility.
The second project, by West Deptford Apartments LLC, secured a $25.3 million tax credit award for what would be an 84-unit building for seniors and veterans. Published reports say the Gordon H. Mansfield Veterans and Seniors Village will rise at 420 Grove Ave. as part of a plan by the affiliate of Boston-based Winn Development Co.
“The Aspire Program serves as a cornerstone of Governor (Phil) Murphy’s stronger and fairer economic strategy by increasing access to affordable housing and investing in communities across the state,” said Tim Sullivan, the EDA’s CEO. “The Hildebrand Commons and the Gordon H. Mansfield Veterans and Seniors Village will contribute to the long-term vibrancy and vitality of Gloucester and Middlesex counties, expanding the tax base and offering high-quality, accessible housing for hundreds of New Jersey residents.”
In a news release, the EDA said the six-story Hildebrand Commons will include 26 units that are reserved for residents making 60 percent of the area median income, 26 homes for those at 50 percent of the AMI and 13 for income levels of 30 percent of the AMI. The development will also have five special-needs units reserved for homeless individuals, while each unit will be equipped with an EnergyStar dishwasher and refrigerator and central air conditioning and will comply with the New Jersey Housing and Mortgage Finance Agency’s Energy Star Homes Program.
The $20.1 million Aspire award, which would be disbursed over multiple years once the project is completed, represents up to 60 percent of the total development cost, the EDA said. HMFA is also supporting the proposal through Low-Income Housing Tax Credits.
“We are proud to partner with the NJEDA and Hoffman Housing Urban Renewal Associates on this transformative project, which not only addresses the critical need for affordable housing but also enhances our community by providing state-of-the-art, energy-efficient homes for those who need them most,” New Brunswick Mayor Jim Cahill said. “Hildebrand Commons represents a significant step forward in ensuring that New Brunswick remains a city where our senior residents can live with dignity, security and opportunity.”
The West Deptford building, meantime, will rise four stories and have 63 units reserved for seniors at low- and moderate-income levels, 21 of which will be for veterans experiencing physical or mental disabilities, the news release said. Amenities will include space for telehealth appointments, private space to meet with case managers or outside service providers, a community room, lounges on each floor, laundry rooms and outdoor gathering space.
Winn’s co-applicant, Soldier On Veterans Village IX LLC, will provide a mix of services and programs to help residents live independently. Services include financial literacy, legal services, nutritional education, transportation services and mental health and substance use education.
“The Gordon H. Mansfield Veterans and Seniors Village is a testament to our commitment to supporting both our seniors and veterans, two of the most deserving groups in our community,” West Deptford Mayor James Mehaffey said. “This development will not only provide affordable, high-quality housing but also offer vital services that empower residents. We are appreciative of all of the hard work in developing the project and are appreciative of the NJEDA and Aspire program for helping facilitate the positive impact it will have on West Deptford.”
Like Hildebrand Commons, the project is receiving Low-Income Housing Tax Credits through the HMFA.
