REP. PASCRELL JOINS FEDERAL, PATERSON OFFICIALS IN OPENING 85 NEW UNITS OF AFFORDABLE HOUSING FOR SENIORS; ANNOUNCES $425,000 FEDERAL GRANT FOR RESIDENT SUPPORT SERVICES
The $24.6 million redevelopment was jump-started by $14.5 million Pascrell secured through the Recovery Act and other federal resources
WASHINGTON, DC – July 4, 2011 – (RealEstateRama) — U.S. Rep. Bill Pascrell, Jr. (D-NJ-8) today joined other federal and City of Paterson officials in opening the Belmont Senior Apartments, which provide 85 units of affordable housing for seniors. The Congressman also announced a $425,491 grant from the U.S. Department of Housing and Urban Development for resident support services at the Belmont Senior Apartments and other affordable housing developments in the city.
“This is the product of smart federal investment that not only creates jobs, but makes our community stronger. It took hands to build these homes. It took supplies. And now it is done. This federal investment was leveraged to bring in private dollars, and helped create more than 500 jobs in construction. Now we have a place where our seniors can live independently and thrive as part of the larger community. In these tough economic times – with people losing their jobs and foreclosures rising, safe – affordable housing is needed more than ever.”
Construction of the Belmont Senior Apartments was financed, in part, from several federal sources, including the Tax Credit Assistance Program (TCAP) and Tax Credit Exchange Program funding that was included in the American Recovery and Reinvestment Act and HUD Replacement Housing dollars. Total federal commitment to the project is $14,482,126, with $8,947,126 coming from the economic stimulus package.
The Belmont Senior Apartments is a four-story mid-rise elevator-served building containing 85 total rental dwelling units, all of which are eligible for low-income housing tax credit. The complex provides parking for 51 cars, an outdoor pavilion and a sitting area for residents. The building also includes approximately 1,500 square feet of community room space with a full kitchen, management offices and series of lounge areas. Laundry rooms are located on every floor. All public areas are accessible, able to accommodate visitors.
Rep. Pascrell also announced a $425,491 grant from HUD’s Resident Opportunities and Self Sufficiency (ROSS) program to the Paterson Housing Authority. The ROSS Program provides funding for two Service Coordinators to help residents attain economic and housing self-sufficiency. In cases of the elderly/disabled residents, the coordinators help improve living conditions and enable residents to age-in-place. The grant targets residents at Riverside Terrace Development, Sojourner Douglas Homes, Smoot Village and Belmont Senior Apartments as well as, the Authority’s six elderly/disabled developments.
Contact:
Paul Brubaker (973) 523-5152
