FRANKLIN LAKES, NJ – McCoy Place, a new affordable 40-unit supportive housing complex, recently opened in the borough at McCoy and Colonial Roads.
McCoy Place includes 39 one-bedroom apartments for individuals with disabilities earning up to 60 percent of area median income, and one for a superintendent. Twenty apartments are set aside for people with physical disabilities such as Multiple Sclerosis; 19 units are designated for people with developmental disabilities such as those in need of Asperger’s-related services.
“Caring for our most vulnerable residents in New Jersey isn’t just an obligation, it’s the right thing to do,” said Lieutenant Governor Sheila Oliver, who also serves as Commissioner of the Department of Community Affairs and Chair of the NJHMFA board. “McCoy place will meet the needs of dozens of differently abled individuals in Bergen County by providing them a safe and affordable place to live with the necessary supportive services to help them sustain good health and a high quality of life.”
The complex includes five two-story buildings and a community building. All first-floor apartments are fully ADA accessible, able to accommodate a wheelchair, and include wide doorways, pulls on all cabinet doors and drawers, knee clearance under sinks, and full grab bars and other accommodations in bathrooms. The 20 second-floor units are handicapped adaptable.
NJHMFA awarded the project very competitive 9 percent Low Income Housing Tax Credits, which are expected to generate $9.6 million in private equity. The Borough of Franklin Lakes contributed the land and $800,000 from its Affordable Housing Trust Fund. The development also received $500,000 in Bergen County HOME funds.
“Providing housing for individuals with special needs is a challenge nationally and even more so in New Jersey, where housing costs are high and funding resources for special needs housing are limited,” said NJHMFA Executive Director Richman. “This development exemplifies public/private collaborations and will enable residents to live independently in the community. It goes hand in hand with NJHMFA’s commitment to expanding affordable supportive housing opportunities throughout the state.”
Residents began moving in in December. Project-based Section 8 vouchers are being provided for all units through the Housing Authority of Bergen County. The maximum income limits for a one-person household are $21,500 for extremely low income and $35,850 for very low income. For a two-person household, the limits are $24,600 for extremely low income and $40,950 for very low income for a two-person household.
West Bergen Mental Healthcare will coordinate support services for residents with developmental disabilities. The National Multiple Sclerosis Society will coordinate supportive services for residents with physical disabilities. Supportive services will include linkages and ongoing follow-up services to health care, education services, job training and job search assistance, financial management training, transportation, and socialization and recreation.
The Alpert Group, based in Fort Lee, is a family-owned and operated real estate management and development company. The Housing Development Corporation of Bergen County is the nonprofit development arm of the Housing Authority of Bergen County.
For rental information, visit https://njbergenco.tenmast.com/apply/
For more information on NJHMFA and its programs, visit njhousing.gov.