Chambers Bridge Residence (Photo: Homes Now Inc.)
Brick officials have introduced an ordinance that would result in the sale of an affordable housing apartment building at its housing authority complex.
The proposed sale, which was unanimously introduced by the township council last week, would convey the Chambers Bridge Residence property to National Church Residences (NCR) for $1,650,000. Apartments in the 184-unit complex are offered at below-market rates to senior citizens and disabled residents who are considered to have low incomes. The building is already being operated by NCR by way of a contract with Homes Now Inc., the developer of the property.
“They have contracted with NCR to manage the property for many years,” said Council President Heather deJong.
|
|
The $1,650,000 figure was the appraised value of the property, officials said. The township retained Henry J. Mancini and Associates, of Stafford Township, for appraisal services prior to the sale.
As a condition of the sale, the property must continue to operate as a designated affordable housing complex for 30 years after closing. Its current restrictions will continue to be enforced.
Before the sale can be finalized, the measure will be subject to a public hearing and final vote. That is expected to come at the June 12 council meeting.
The Chambers Bridge Residence is located within the property owned by the Housing Authority of the Township of Brick, located on Chambers Bridge Road, just west of Route 70. It is one of several publicly-owned buildings on the property that provides apartments to low-income seniors and disabled residents.
Local Business
Stop & Shop Permanently Closes Point Pleasant Beach Location
