Real Estate

Residence at Roosevelt Park Celebrates Grand Opening

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EDISON, NJ - The Residence at Roosevelt Park, the newest independent living community for senior citizens in Middlesex County, opened this week.

The nearly $25 million adaptive reuse and historic renovation project was formerly Roosevelt Hospital, which was built in 1937.

Middlesex County jointly developed the property with Pennrose, with funding from the New Jersey Housing and Mortgage Finance Agency (HMFA), which awarded the project a 9 percent federal Low Income Housing Tax Credit.

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The building for residents over the age of 62 has 84 one- and two-bedroom apartments, Energy Star appliances, carpeted bedrooms, tiled bathrooms, cable/internet hookups and air conditioning. The complex’s amenities include an on-site management office, community room, fitness room, common laundry rooms, an on-site maintenance superintendent, security cameras, a card entry system, outdoor patio and a resident gardening area.

Veterans have preferred status for up to 25 percent of the units. Five units are set aside for formerly homeless individuals and couples, while six serve individuals with disabilities. Support services are available to all residents. On-site professional maintenance is provided, as well as a Support Services Coordinator for residents of the special needs units.

The project is projected to provide more than $4.4 million in ongoing economic output, 25 direct and indirect full-time equivalent jobs, and more than $249,000 in state and local taxes annually. The redevelopment was designed by architect Wallace Roberts & Todd.

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