FOR IMMEDIATE RELEASE: Friday, July 1, 2016

 

Christie Administration Marks Groundbreaking for Affordable Senior Community in Middlesex County 

WOODBRIDGE TOWNSHIP – New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta recently joined elected state and local officials and community leaders to celebrate the groundbreaking for 57 new rental apartments at Dalina Manor, located at 113 James Street in Hopelawn. The homes will be situated within a new 57-unit building located in a Smart Growth Area. The new residences will be affordable to seniors, age 55-plus, with five set aside for the homeless. Ingerman Development Company, LLC, located in Collingswood, NJ, is the community developer.

Dalina Manor will offer a selection of 48 one-bedroom apartments and nine two-bedroom homes. All homes will be designed to be energy efficient, meeting Energy Star standards.  Amenities will include range, refrigerator, air conditioning, dishwasher, carpet and drapes.

Ingerman Management Company will offer case management services to the homeless population provided by a resident service coordinator. Also, there will be a full-time maintenance and janitorial employee. Ingerman has a company-wide policy for on-call staff that sets protocol for after-hours call-in.

“As Middlesex County seniors continue to look for safe, quality homes that fit their monthly budgets, we are happy to announce the groundbreaking for Dalina Manor,” says HMFA Executive Director Marchetta. “Woodbridge will soon be able to offer seniors a fine selection of 57 brand new rental opportunities.”

The HMFA, an affiliate of the Department of Community Affairs (DCA) awarded the affordable housing project the highly competitive 9% federal Low Income Housing Tax Credits which is expected to generate more than $8.3 million in private equity. Approximately $2.7 million was provided in permanent financing through HMFA’s Conduit Bond program.

The $11.6 million development cost of this project will provide affordable housing opportunities for New Jersey seniors and homeless residents and will continue to have a positive economic impact on Woodbridge Township and greater Middlesex County. HMFA estimates that the project has generated more than $18.5 million in one-time economic output, defined as the total value of industry production, such as sales and business revenues. During construction, the project will support approximately 111 direct and indirect full-time equivalent jobs, and generate more than $678,000 in state and local taxes. When complete, the project will continue to add value to the community by providing more than $2 million in ongoing economic output, 11 direct and indirect full-time equivalent jobs, and more than $116,000 in state and local taxes annually.

Economic Impact Analysis figures were estimated using multipliers derived from a 2013 study entitled “Economic and Fiscal Impacts of the New Jersey Housing and Mortgage Finance Agency’s Investment in Affordable Housing,” conducted by HR&A Advisors, Inc., a real estate and economic development consulting firm.

“Today’s groundbreaking represents yet another milestone toward achieving our goal of ensuring that Woodbridge Township senior residents have access to quality residential options that allow them to affordably continue to live in their community,” Mayor John E. McCormac said. “Dalina Manor will enhance the Hopelawn landscape by transforming the aging Hopelawn VFW building into a vibrant new community for our senior residents. It is important to note that the Hopelawn VFW will have a new home – right here at Dalina Manor -- so named in honor of Stephen J. “Pete” Dalina, who dedicated his life to the people of Middlesex County and Woodbridge Township.”

“Through the Mayor’s vision, we have the opportunity to take the aging Hopelawn VFW building and transform it into a beautiful, active, vibrant community for the senior residents of Hopelawn,” said Bruce Morgan, President, BCM Affordable Housing. “We are proud to be creating a high-quality residential development that will not only meet the demand for affordable senior housing, but will also contribute to the Township’s exceptional quality of life.”

With origins as a developer of high-quality affordable rental housing, Ingerman has expanded its focus on delivering innovative housing solutions to include market-rate rental and for-sale communities. Through an approach to strategic financing, the company maintains strong relationships with leading financial institutions and institutional equity investors.

Ingerman adheres to responsible development practices, working collaboratively with project stakeholders – including municipalities and residents – to ensure that each of the Company’s developments positively contributes to the local community.

For more information on HMFA programs, please visit www.njhousing.gov.

CONTACT:
Tammori Petty,
or Emike Omogbai
(609) 292-6055