Mixed-Use Complex Part of Larger Redevelopment Plan
Vineland, NJ – New Jersey Housing and Mortgage Finance Agency (NJHMFA) staff joined local officials and representatives of Eastern Pacific Development this week for the grand opening of Landis Square Senior Apartments Phase II, a new three-story, mixed-use building providing affordable rental apartments for senior citizens.
Landis Square Senior Apartments includes 74 one- and two-bedroom units for seniors. The average income for senior tenants ranges from $16,000 to $28,000 per year. Five units are set aside for homeless seniors. Rents for the 70 one-bedroom units are $620, with rents for the four two-bedroom units set at $730. The apartments feature kitchens with dishwashers and refrigerators and air-conditioned living rooms. Amenities include laundry facilities on each floor, a fitness gym, TV lounge, and a small library. The development also includes 10,000 square feet of office space, which is in the process of being leased, and retail space for a coffee shop or convenience store.
Landis Square Senior Apartments Phase II is part of a significant redevelopment undertaken by the City of Vineland and Eastern Pacific Development. Phase I involved the now-completed renovation of the Landis Theater, which first opened in 1937. A planned Phase III is expected to provide another 70 rental units for seniors.
“Landis Square represents a significant investment in the community and will help the City of Vineland continue to grow,” said Lt. Governor Sheila Y. Oliver, commissioner of the New Jersey Department of Community Affairs (DCA) and chairwoman of the NJHMFA board.
The $18.3 million project was developed by Eastern Pacific Development and Gateway Community Action Partnership with 9 percent tax credits from NJHMFA.
The property previously contained a dilapidated motel, and closed convenience and feed stores.
“This project encourages the revitalization of the city’s downtown and improves the quality of life of residents,” said NJHMFA Executive Director Charles A. Richman. “As a mixed-use development, Landis Square will also help boost Cumberland County’s economy by increasing consumer activity and employment opportunities for area residents.”
Gateway Community Action Partnership, based in Bridgeton, will provide health screenings and services to the tenants.
Eastern Pacific Development of Vineland has worked with communities to successfully develop and operate affordable housing and community redevelopments.
NJHMFA, an affiliate of DCA, has been a leader in the creation and rehabilitation of nearly 100,000 affordable housing opportunities for families, seniors and special needs residents statewide through its loan financing and bond programs; mortgage, down payment and closing costs assistance; and the award of federal Low Income Housing Tax Credits. For more information on NJHMFA programs, visit www.njhousing.gov.
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