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N.J. HMFA provides $7.4 million toward project
A 53-unit affordable housing building for senior citizens was dedicated Monday at 55 Harvey at Providence Square in New Brunswick's Transit Village area.
The state Housing and Mortgage Finance Agency helped finance the project by providing $7.4 million in federal tax credit funds toward development costs.
"55 Harvey at Providence Square is a shining example of a true public-private partnership between local and state governments and private developers to create affordable homes for our senior citizens," state Community Affairs Commissioner Lori Grifa, who also is HMFA chairwoman, said at the dedication. "It is a testament to everyone involved, during this time of scarce financial resources and economic uncertainty, that seniors in the New Brunswick community now have access to excellent housing and supportive services to enjoy."
The four-story building includes 53 one-bedroom apartments serving seniors at or below 50 percent of area median income. Each apartment is equipped with a full kitchen, living and dining area, and full bath. The building is outfitted with elevators, an enhanced security system, and sustainable technologies such as Energy Star appliances and solar PV panels situated on the roof.
55 Harvey at Providence Square is adjacent to the existing 98-unit Providence Square senior building. Both buildings are in close proximity to Robert Wood Johnson Hospital, Rutgers University, and other amenities in downtown New Brunswick.
"55 Harvey at Providence Square truly carries out the mission that is shared by all of the stakeholders gathered here today, which is to provide flexible, affordable housing opportunities for senior citizens on low, fixed incomes," HMFA Director Anthony Marchetta said. "I am pleased that HMFA played a role in getting this project off the ground. It truly advances our laudable goal of making affordable housing a reality for more and more residents of the state."
The project was developed by Pennrose Properties, a Philadelphia-based real estate developer and property manager, in partnership with the New Brunswick Housing and Redevelopment Authority.
— TOM HESTER SR., NEWJERSEYNEWSROOM.COM
