Partially Affordable Senior Community Opens Near New York City
The property is the second phase of the redevelopment of a former hospital.
Hilltop Partners Senior Urban Renewal LLC has opened Hilltop Senior Apartments, a 94-unit partially affordable and age-restricted community in Irvington, N.J. Designated for residents over the age of 55, the property comprises approximately 69 affordable units.
The senior housing community represents the second phase of the Hilltop Redevelopment, a private-public partnership aiming to redevelop the former Irvington General Hospital. At full build-out, the revamped property, designed by Perkins Eastman, will comprise more than 600 residential units across five buildings, 18 duplexes and two-family townhomes. The first phase of the project consisted in the construction of a five-story community encompassing 115 units.
A new senior community in Northern New Jersey
Designed to achieve a LEED Silver certification, Hilltop Senior incorporates studios and one-bedroom apartments with interior features such as stainless-steel appliances, double-pane windows and digital locks. Common-area amenities include a fitness center, a community room, a health-care suite, a bike room, an outdoor terrace and six laundry facilities. The Catholic Charities Archdiocese of Newark and the New Jersey Housing Mortgage Finance Agency’s Senior Independent Living program will provide resident services.
Located at 280 Park Place, the six-story building is in an area with many retail and dining options. The Northern New Jersey community is close to the intersection of Garden State Parkway and Interstate 78, which provides easy access across the New York City metropolitan area.
The property’s development was financed through HMFA’s 9 percent low-income housing tax credits and a $21.6 million construction loan from JPMorgan Chase, according to Yardi Matrix data. Financing partners also included Capital One, Federal Home Loan Mortgage Corporation and Raymond James Affordable Housing Investments.