New 4th Ward Housing Development for Veterans
Sunday, June 3, 2012 • 1:09pm
PATERSON, N.J. – State and local officials have high hopes for the new 18-unit apartment complex that opened at 601 E. 18th Street in the 4th Ward.
The project provides affordable housing for people who have been homeless or have disabilities and give military veterans a priority. Built by Paterson Park Development LLC, the project was partially funded with $3.3 million in construction and permanent financing through the New Jersey Housing and Mortgage Finance Agency (HMFA). The development also received funding through the Rental Assistance Program run by the New Jersey Department of Community Affairs (DCA).
“It is particularly critical for the military veterans in our community,” said DCA Acting Commissioner Richard E Constable III in a press release. “Both at home and abroad, veterans have served our nation in order to protect our American way of life and our country’s core values of freedom and democracy. As a result of this project, more of these American heroes will have the opportunity to live in an affordable apartment they can be proud to call home.”
Officials held a grand opening celebration on May 23 at the apartment building, which is about two blocks north of Broadway. Among those who attended were Mayor Jeffrey Jones, 4th Ward Councilwoman Vera Ames-Garnes, 4th Ward Councilwoman-elect Ruby Cotton, Freeholder Theodore Best and Rep. Bill Pascrell.
Paterson Park Apartments is a four-story elevator building, according to the state’s press release. The project consists of 3 efficiencies, 3 one-bedroom units, 9 two-bedroom units and 3 three-bedroom units.
The first floor and common areas are handicapped accessible and the remainder of the building – including all units – is handicapped adaptable, the press release said. Each unit has its own kitchen (each efficiency has its own kitchenette), bathroom and Energy Star-rated appliances. Rental assistance for the units is being provided in the form of 18 vouchers through DCA’s State Rental Assistance Program for the term of 10 years. Additionally, Passaic County is providing eight rental assistance vouchers with a term of five years through its federally funded Shelter + Care program.
“The HMFA is pleased to provide the capital financing that enabled the development of this project, which presents permanent affordable housing opportunities for individuals and families in need,” said HMFA Executive Director Anthony L. Marchetta. “Paterson Park Apartments is a wonderful example of how federal, state, local and private enterprise can work together to build quality affordable supportive housing for those who need it most.”
The principals of Paterson Park Development, LLC are Lewis Kadell, Steve Kalebic and Kenny Desai. The project development team includes TDK Construction, Bleeker Architectural Group, Moderate Income Management, and Monarch Housing Associates.
Information about rentals is available on the builder’s website.