Community Investment Strategies (CIS) will propose the development of affordable senior rental housing at a brownfield site on Church Street at a joint session of the Aberdeen Council and Aberdeen Planning Board just down the road at Town Hall on Tuesday 27 September 2011 at 7 pm, according to a Township press release and APP. Christiana Foglio, the company's CEO, will be making the presentation, which she characterizes as an informal conversation or workshop. No formal action will be taken by local officials.
Discussion can be expected to include demolition of the existing structures and remediation and development of the 14-acre property that once belonged to South River Metals, given the many DEP regulations that must be met. And Federal and state requirements for affordable housing grants and loans will doubtless prompt discussion of strategies for financing the project and determining who may live in which kind of unit. Hopefully there will also be discussion of how these new residents will get around town for their shopping, medical, and recreational needs given that Church Street is not exactly a hub of public transit.
CIS is a major player in affordable housing development in New Jersey. They have received lots of awards and are affiliated with all the major associations. Founded in 1994, the company controls over $350 million in properties, including over 2,000 apartments, town homes, and mid-rise and high rise complexes. In July 2011, CIS proposed a $14 million affordable housing development for senior citizens in Bloomfield, according to North Jersey. A June 2011 press release announces the successful completion of a $21 million seniors development in Elizabeth called Water's Edge Crescent. The Federal government, Burlington County and a local municipality are financing the $15 million conversion of a school into affordable housing in Florence, according to an August 2011 article by Philly Burbs.
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