$165M New Jersey Redevelopment Opens Phase 2
Ablett Village was originally built to house World War II defense workers.
The Michaels Organization has opened the second phase of the Ablett Village redevelopment, known as The Harrison, a 55-unit mixed-income senior housing community in Camden, N.J. The asset’s development costs rose up to $16.3 million, while the entire redevelopment is evaluated at $165 million.
The developers partnered with the Housing Authority of the City of Camden and the New Jersey Housing and Mortgage Finance Agency. Additionally, HUD provided a $35 million Choice Neighborhoods Implementation grant for the city of Camden for the redevelopment, while NJHMFA contributed $13.9 million in tax credit equity through LIHTC.
Architect Urban Practice, alongside general contractor Michaels Construction, worked on the project. Better Tomorrow provides social services, while Michaels Management handles management services on behalf of Cramer Hill Senior.
Catering to residents 62 years and older, the property comprises 48 units designated for seniors earning 80 percent or less of the area median income, five units set aside for seniors facing homelessness while two units are leased at an unrestricted market rate.
Residents can access a medical exam room staffed by nurses from Virtua Health and Rutgers-Camden School of Nursing. Furthermore, the property features a multipurpose room, craft lounge, garden and gym.
Transforming a historic village’s senior affordable housing
The redevelopment is located at 307 Ablett Village, just under 1 mile south of the Delaware River and roughly 1 mile north of U.S. Route 30. Cramer Hill Waterfront Park is a 10-minute walk away, while 36th St. Light Rail Station is 2 miles to the northeast.
Ablett Village marks the eighth affordable housing community redeveloped by The Michaels Organization in Camden over the last 12 years. The village’s construction was finished in 1942 to house World War II defense workers and later was converted to public housing, according to Tap into Camden.
Michaels’ first phase of the redevelopment consists of Cramer Hill Family, which provides 75 units catering to residents earning between 30 percent and 80 percent of AMI, according to Affordable Housing Finance. The third and fourth phases are expected to bring online 297 units, with construction expected to start in the summer of 2024.
