The Hoboken Zoning Board of Adjustment approved a six-story building where all 36 of their units will be affordable housing for seniors at Tuesday’s meeting.
By John Heinis/Hudson County View
“I’m extremely proud that we are moving forward with the city’s first 100% affordable housing complex for seniors in over 30 years. This new development will help prevent dozens of our valued seniors, the backbone of our city, from being priced out of Hoboken and ensuring they can continue to afford to live in our great city,” Mayor Ravi Bhalla said in a statement.
“It’s one meaningful project of many we are taking to create more affordable housing in our Mile Square, and continues to be a major priority for my administration. Thank you to CIS, the City’s Department of Community Development, City Council, the Zoning Board of Adjustment, and our many project partners for ensuring this project’s success.”
The six-story building will be comprised of 36 affordable units for seniors, with a ground floor activity room.
Funding for the project was made possible by the New Jersey Department of Community Affairs (DCA) Affordable Housing Production Fund, the Housing Mortgage and Finance Agency (HMFA) mortgage, the Hudson County HOME Program, Low Income Housing tax credits (LIHTC), and the city of Hoboken’s Affordable Housing Trust Fund.
“Many seniors living on fixed incomes worry they can’t afford to continue living in our city. For more than 30 years, the City’s land at 11th and Willow has been an uninspired surface lot. With last night’s unanimous zoning board approval, this vitally important project is poised to become a 100 percent affordable housing development, consisting of 36 beautiful apartments for our seniors” added 5th Ward Councilman Phil Cohen, the chair of the Community Development North Subcommittee.
“I can’t wait to see the transformation of this surface parking lot into brand new affordable housing, complete with programming dedicated exclusively for our seniors, at 11th and Willow.”
The location for the senior affordable housing was previously the location of a tenement building destroyed by a fire in September 1973, which claimed the lives of 11 residents.
The property later became city-owned, and the administration and the Department
of Community Development have worked to create affordable senior housing at the site through a partnership with the developer, Community Investment Strategies, over the last four years.
“This project means so much to me given the history of the location. As a former legislator and now Division Head for the City of Hoboken, I am extremely proud of the work that was accomplished,” noted said Vanessa Falco, the head of the city’s Division of Housing.
“My decisions were and will always be grounded in the betterment and advancement of people who are an important part of our Hoboken community. I am especially thankful to Mayor Bhalla, his administration, city council, and the community development team who
did not give up when met with multiple challenges. I look forward to what’s next in creating and sustaining a more equitable community.”
Following a Request for Proposals in August 2020, CIS was selected as the project’s developer.
The initial plan of 25 affordable senior units could not be financed through DCA’s Affordable Housing Trust Fund Program and evolved into a 36-unit project to secure necessary funding and long-term affordability.
After extensive discussions with the city council subcommittee and community feedback, the city and CIS agreed to an amended development agreement in June 2023, which was followed by a 99-year land lease and a Payment in Lieu of Taxes PILOT agreement.
Under the PILOT agreement, CIS will pay one percent of annual project revenues to the City in lieu of taxes.
The arrangement ensures that the City retains ownership of the land while maintaining the ability to renew deed restrictions, preserving its commitment to affordable housing.
Additionally, construction on the project is anticipated to begin in 2025.
I am hoboken born and raised..I have tried to get back to Hoboken for yrs..one women at a site without even seeing my paperwork “oh, you can’t afford this”..I do believe it is age discrimination..I am 70 with a steady income living with my brother who has a steady income..please let me have an application please
Ms Falco has been instrumental in finding low rent apartments in luxury new buildings for the families of old school politically connected.
Somethings never change.
It’s no WONDER this was pushed through… Bhalla bought off Falco a few years ago and she got some of her pals out of Applied and into matching mother daughter lofts at Wonderlofts where they both wreak havoc and fight with all their neighbors
Surprised Vanessa isn’t gonna grab an apt for herself like she was rumored to have tried at 770 House…
Oh wait, does this building plan on having ceiling lights in the bedrooms? WE know how much Vanessa hates buying her own table lamps…
The Bhalla Administration must make sure that the process for getting those 36 units is fully transparent and that it open and well advertised to the residents of Hoboken.
The project will end up costing the taxpayers of Hoboken millions of dollars in lost revenue from what could have been realized from the sale of the property and increasing the taxes on those who are made to pay full taxes.
At very least a ten year residency in Hoboken needs to be a prerequisite for being considered for an apartment and the unit can not be passed on after the death of the original occupant.
Keep milking the wrong bull. I know no one that got into an affordable housing due to Vanessa Falco’s wrong doing . If that mother and daughter act is still coming up. You are obviously obsessed with lying. As far as fighting in the affordable part of Wonder Loft. Honey we all get along. You must be paying for the wrong information. It is WONDERFUL HERE. And we didn’t have to terrorized anyone to get in Jimbo. Get off Ms. Falco’s back and let her due her job. Let her succeed in bettering this city. You are evil consumed with jealously. You are apt to say something. So let me tell you. Please take your vicious hate to another town. We have enough. This again is an article with comments about the Petrozelli family. Jimboy is right here.
Who said anybody’s last name?
Did Perry write this for you?
Apparently Falco helped a single woman get a 2 bedroom apt at Wonder lofts because her pal complained she needed a room for her exercise equipment associated with her ” disability” ( diabetes?)
Someone is smoking crack!…