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Council asks for developer presentation on proposed 194‑unit senior affordable project at 24½ Van Houten
Summary
Two council resolutions seek the council’s letters of support for a 194‑unit, 55+ 100% affordable project at 24½ Van Houten. Councilmembers repeatedly demanded the developer present design, affordability bands and management plans and asked for clearer financial pro formas before issuing city support letters to state funding agencies.
Council members at the Nov. 6 workshop questioned whether to provide the requested letters of municipal support for a proposed 194‑unit, age‑restricted (55+) affordable housing project at 24½ Van Houten being advanced by Hudson Blue 24 Owner LLC.
Economic development staff described the project as 100% affordable and age‑restricted, seeking both NJHMFA low‑income housing tax credit support (~$31.9M reported) and NJEDA support (staff cited an approximate $54M NJEDA component). Staff outlined a project pro‑forma showing…
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