Prime City has started construction on two affordable housing projects in Orange, including a plan to build four townhomes, each with one bedroom plus a den. — Rendering courtesy: Prime City
By Joshua Burd
Development firm Prime City has started construction on two projects in Orange that will bring a combined 13 units of affordable housing to the municipality.
According to the Hoboken-based firm, the projects include a collection of four townhomes at 150 Taylor St., each spanning roughly 1,100 square feet and featuring one bedroom plus a den. The developer will offer the units below market rate, seeking to spur homeownership in an area with high barriers to entry.
At 151 Taylor St., Prime City is developing a nine-unit affordable apartment complex at the former site of a three-family building. The units will be compliant with the Housing Authority of the City of Orange’s Housing Choice Voucher Program, which provides stable, quality affordable housing opportunities for low- and moderate-income families.
Prime City acquired both properties in 2018 and has been working closely with city officials on the redevelopment plans. Both projects are expected to be completed in 2025.
“We are excited to commence construction on the Taylor Street redevelopment project that will soon bring affordable housing options, as well as equitable homeownership, to the city of Orange,” said Alexander McGee, co-founder of Prime City. “Working together with HACO and the local government we collectively identified the best use for these two properties, and we believe that both will be pivotal in providing quality housing in an area that desperately needs
it.”
The construction follows Prime City’s recent groundbreaking in Long Branch, at 20 Third Ave., where it’s developing a four-story, 31-unit apartment property known as SICA Lofts.
“This affordable housing development provides a beacon of hope and opportunity for our community,” Orange Mayor Dwayne D. Warren said. “Not only does this development address the pressing need for affordable housing, but it goes a step further by offering townhomes below market-rate to empower families with the dream of homeownership. In an era where barriers to entry into the housing market seem insurmountable, we are dedicated to chipping away at these obstacles and creating pathways to prosperity.”
Prime City, Manasquan Bank ink $7.5 million construction loan for Long Branch rental project
