$5.8M Will Help Build South Orange Affordable Housing Project

SOUTH ORANGE, NJ — Capital One has greenlighted a $5.8 million construction loan for the development of South Orange Commons, a 26-unit affordable housing community in Essex County.

According to a news release from Capital One, more than half of the units will be set aside for special needs households and supported by the New Jersey Department of Human Services’ Division of Developmental Disabilities, with the goal of helping adults with different developmental and physical capabilities live as independently as possible.

Here’s what to expect, Capital One said:

“This property will include one, two and three-bedroom units that will be restricted at 30%, 50% and 60% of area median income (AMI). South Orange Commons will have a community room, rooftop terrace, and lounge areas for residents. Onsite services will include residential day programming, employment training and placement, clinical and behavioral health, athletics and fitness, recreation and the arts, and daily living skills.”

Bergen County United Way (BCUW) is the lead developer partnering with Madline Corporation, Penwal Affordable Housing and Jespy House – all New Jersey-based nonprofit organizations – to support the property and provide services. BCUW has developed nearly 300 units of low- and moderate-income housing across 25 properties, including special needs and senior housing for both rental and homeownership.

• See Related: South Orange Gets Its New Affordable Housing Quota From State

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