Construction has broken ground on a 60-unit affordable housing building for senior and disabled residents at 160 Halsted Street in East Orange, New Jersey. Designed by DMR Architects and developed by Genesis Companies, the building will comprise 61,000 square feet with 60 individual units.
The mix of units will include 52 one-bedrooms and eight two-bedroom floorplans. As an income-restricted property, the residences will be reserved for individuals and household in very low, low, and moderate income groups. Genesis has also confirmed that 25 percent of available residences will be set aside for the local homeless population in need of permanent supportive housing.
Additional members of the development team include East Orange Housing Authority and The Metro Company.
“The need for quality, affordable senior retail residences is urgent across the state of New Jersey and public-private partnerships, like this one, provide a framework for future developments,” said Karim Hutson, founder and managing partner at Genesis Companies. “As real estate developers, we are pivotal in creating solutions that meet the needs of our communities and we’re proud to be advancing developments across the region that provide housing for those with the greatest need.”
Financing for the project was originated by Citibank, Bank of America, the National Equity Fund LIHTC Equity, the United States Department of Housing and Urban Development, and a Federal Home Loan Bank Affordable Housing Program grant.
The building is expected to open next summer.