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APRIL 30TH GROUNDBREAKING OF MARGARET S. HERBERMANN MANOR PAVES THE WAY FOR NEW WORKFORCE HOUSING IN JERSEY CITY

Thursday, April 30, 2009 / CAHN Communications

Franklin Development Group

 

Release Date:           April 30th, 2209

Media Contact:         George M. Cahn: gcahn@cahncomm.com

                                    CAHN Communications

                                    (201) 876.3100

 

 

APRIL 30TH GROUNDBREAKING OF MARGARET S. HERBERMANN MANOR PAVES THE WAY FOR NEW WORKFORCE HOUSING IN JERSEY CITY

 

$11 Million Project To Meet LEEDS Silver Certification

 

JERSEY CITY, NJ – Developers will officially break ground today (Thursday, April 30th) on 45 new affordable and workforce housing units located in the Heights section of Jersey City, NJ.

A host of state and federal officials including Commissioner Joseph V. Doria, Jr. of the New Jersey Department of Community Affairs, Marge Della Vecchia, Executive Director of the New Jersey Housing & Mortgage Finance Agency; and Kathleen Naymola, Director of Community Planning & Development for the U.S. Department of Housing & Urban Development;  will join Jersey City Mayor Jerramiah T. Healy; Ward D Councilman William Gaughan; Jersey City Redevelopment Agency Executive Director Robert Antonicello and other dignitaries from the City’s business, real estate and civic sectors at ceremonies held at the site of the new community located at the intersection of Secaucus Road and Summit Avenue.

 The five-story, all-brick elevator building will be constructed to meet LEEDS Silver Certification and will comprise five low-income units, ten moderate-income units and 30 workforce housing units, according to developer Franklin Development Group.  There will also be a ground-floor commercial component comprising two retail stores.  Anticipated completion is Spring of 2010.

“We’re excited about this project because it not only creates sustainable housing for our residents, but it is also provides quality affordable and workforce housing,” said Jersey City Mayor Jerramiah T. Healy. “Affordable housing is a vital component of building a greater city, and gives all of our residents the ability to achieve their piece of the American Dream.” 

Margaret S. Herbermann Manor is the first project of its kind in the Heights section of  Jersey City and is a critical component in a ten-year effort to redevelop the area, points out the Jersey City Redevelopment Agency’s Robert Antonicello.

“This is the first affordable and workforce housing created in the Heights that’s not dedicated to seniors,” notes Mr. Antonicello.  “The project completes what was started over ten years ago with the creation of the Summit Plaza retail development and it represents a continuation of our mission to retain vital workers in Jersey City including postal workers, retail managers, teachers, firefighters, police officers, clerks and others – some of whom commute up to two hours a day.  We want to entice people to stay in Jersey City and become involved in the community and neighborhood while also allowing them to spend more quality time with their families.

“That we were able to bring this project on-board now and line up the necessary financing in today’s very difficult economic climate speaks volumes about the people and entities involved, including Franklin Development Group, the City Council and the New Jersey Housing & Mortgage Finance Agency who have all worked tirelessly towards a common goal.”

The new development will be financed by a combination of New Jersey Housing & Mortgage Finance Agency’s “CHOICE” program and M & T Bank.  “CHOICE” was conceived to encourage the development of for-sale housing in Smart Growth areas throughout the State.  With its focus on home ownership, the program is designed to stabilize targeted neighborhoods and stimulate economic growth. 

"We’re proud to continue our long-standing partnership with Jersey City and the various local and state agencies involved in this project which is rising in an area with arguably the greatest need for workforce housing in the City,” notes Paul DeBellis, Sr., President of Franklin Development Group. 

“We look forward to reconvening here next spring to celebrate the completion of this development which promises to raise the bar for future affordable housing projects.”

Named after the celebrated physician and advocate for children with disabilities who was born in Jersey City in 1878, Margaret S. Herbermann Manor will comprise four stories of residential condominiums over one floor of parking with one parking space dedicated to each unit.  The units will feature approximately 1,100 square feet of living space with two bedrooms, a living room, a dining area and a kitchen.  Approximately 50% of the homes will be on one level and the balance will be duplex layouts. 

The building will be within walking distance of schools, shopping and transportation. 

For more information on Margaret S. Herbermann Manor, please call (973) 345-0800, ext. 133.

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