Moorestown's Largest Affordable-Housing Complex Has Opened

MOORESTOWN, NJ — Moorestown's largest affordable housing complex has opened, bringing 76 apartments to the township.

Residences at Harper, which held its grand opening Tuesday, is located at East Gate and Harper drives — a business-heavy area that's blocks away from Moorestown Mall.

The four-story building features a mix of 1-to-3 bedroom apartments. All of them are affordable housing available at 30 to 60 percent of the Area Median Income.

Five units will be set aside for formerly homeless people and families. Four apartments are accessible to residents with physical disabilities, and two will be outfitted for people with impaired hearing or vision.

Real estate developer Pennrose operates the complex.

"We’re proud to help support Moorestown in achieving their affordable housing goals," said Jacob Fisher, Pennrose's regional vice president. "While the affordable housing crisis can feel insurmountable, today’s milestone reminds us that real change happens one community at a time."

Cities and towns in New Jersey must provide a certain number of affordable-housing units based on their respective populations. The mandate has evolved over the decades through various court orders and legislation.

Moorestown must add 250 affordable housing units by 2035 — a requirement the Township Council acknowledged in a resolution passed earlier this year.

Residences at Harper is funded by various sources, including equity generated from 9% Low-Income Housing Tax Credits, Pennrose says.

The project is also supported by the township, New Jersey Housing & Mortgage Finance Agency’s Affordable Housing Production Fund, and Burlington County’s HOME Program.

"I’ve spoken to students, teachers, and first responders who would love the opportunity to live in Moorestown," said Mayor Quinton Law, "but there simply hasn’t been enough access to homes everyday people can afford — places that keep them close to where they work and serve. The residences at Harper Drive are a huge step forward in our commitment to accessible and affordable housing."

Residences at Harper is now leasing. Visit Pennrose's website for more info.