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NJHMFA Celebrates Opening of 101 New Apartments in Avenel

Published on October 18, 2019 by New Jersey Housing and Mortgage Finance Agency
NJHMFA Celebrates Opening of 101 New Apartments in Avenel

Public/Private Partnership Creates Community for Families, Special Needs Residents, Financed in Part by NJHMFA

AVENEL, NJ – A ribbon-cutting ceremony today marked the opening of the Greens at Avenel,  a new community of 101 apartments affordable to families, including 25 for special needs residents, under a public/private partnership between Pennrose and Woodbridge Township financed in part by the New Jersey Housing and Mortgage Finance Agency (NJHMFA).

The complex, located at 1450 Rahway Ave. in Avenel, part of Woodbridge Township, transformed a formerly vacant lot owned by the New Jersey Department of Corrections and acquired by the township into a complex of one- to three-bedroom apartments for residents earning between 30% to 60% of the area median income.

“Providing housing that is affordable and accessible to those who live with disabilities is at the core of our Administration’s efforts to create a stronger and fairer New Jersey for all,” said Lt. Governor Sheila Oliver, who serves as Commissioner of the Department of Community Affairs (DCA). “Governor Murphy and I are thrilled that this new apartment complex is meeting the need for quality, affordable housing while revitalizing the surrounding community.  We commend those from the public and private sector who came together to make it become a reality.”

The development includes 15 apartments for residents with physical or developmental disabilities, and 10 apartments for residents with mental health challenges. The complex also includes a community room, fitness room and partially enclosed green courtyard. The project also includes a separately funded brand-new 1.25-acre Woodbridge Township youth sports field.

“Working together, this public-private partnership benefits the entire Woodbridge community and expands housing opportunities affordable to working families,” said NJHMFA Executive Director Charles A. Richman. “The Greens at Avenel also provides critical stable, supportive independent community-living options for our residents with special needs.”

NJHMFA awarded 4% Low Income Housing Tax Credits, which generated $8.64 million in private equity and also provided $16.07 million from its conduit bond program and $4.25 million from its Sandy Special Needs Housing Fund, which contributes toward to the development of quality, supportive permanent homes in the nine counties most impacted by Superstorm Sandy. The project also included funding from the Woodbridge Township Affordable Housing Trust Fund.

PennReach will provide or arrange for case management services for the special needs residents, including counseling, financial budgeting and assistance, establishing linkages with educational and employment resources, substance abuse treatment, assistance with doctor’s appointments and assistance with locating health services and treatment programs in the community.

The complex is close to major highways, including the New Jersey Turnpike; NJ Transit rail stations in Avenel and Rahway; retail and dining; parks and recreation such as the Ernest L. Oros Wildlife Preserve; and employment opportunities.

Residents are anticipated to begin moving in by the end of October. Rents on the one-bedroom apartments serving special needs residents are $565. Rents for a two-bedroom apartment will range from $1,258 to $1,524;  and from $1,450 to $1,757 for a three-bedroom apartment. Supportive apartments will receive rental and service support from the state Division of Developmental Disabilities and the Division of Mental Health and Addiction Services, both in the New Jersey Department of Human Services.

For rental information, visit https://www.pennrose.com/apartments/new-jersey/greens-at-avenel/

For more information on NJHFMA and its programs, visit njhousing.gov.

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