Today, the Affordable Housing Alliance is officially closed on construction financing for 27 Burnt Tavern Road in Millstone, New Jersey!
This development will feature a mix of sixty-seven 1, 2, and 3 bedroom apartments for very low to moderate income families, as well as a 5 unit set-aside for families experiencing homelessness. The project includes a community building with a lounge area, computer area, fitness room, social services offices, management offices, a back patio and a playground.
All apartments will have individual entrances, back patios or balconies, in-unit washer/dryers, and be built to Zero Energy Ready Standards.
This is also the first 100% affordable LIHTC project in New Jersey to be constructed with on-site well and septic systems. Navigating DEP approvals and budgeting for these systems has been challenging, but this could be a game-changing project in a state where so many populated areas lack municipal infrastructure.
This is AHA’s first standalone LIHTC project, without a larger company as a partner. A huge thank you to everyone who is part of this team and helped get us here!
We plan to start moving dirt within 2 weeks, with an official groundbreaking ceremony planned for September. Hope to see you there!