Affordable Housing Opens In Franklin Lakes

FRANKLIN LAKES, NJ — An affordable 40-unit housing complex for people with physical and mental disabilities opened Friday.

McCoy Place includes 39 one-bedroom apartments, including 20 units for people with physical disabilities and 19 for those with developmental disabilities. The remaining unit is for the superintendent.

"McCoy Place will meet the needs of dozens of differently-abled individuals in Bergen County by providing them a safe and affordable place to live with the necessary supportive services to help those sustain good health and a high-quality of life," said Lt. Gov. Shelia Oliver, an Oakland resident and commissioner of the New Jersey Department of Community Affairs. "Caring for our most vulnerable residents in New Jersey isn't just an obligation, it's the right thing to do."

The complex includes a five, two-story buildings and a community building. The first-floor apartments are ADA accessible and the second-floor units are handicapped adaptable.

The borough contributed the land for the facility and $800,000 from its Affordable Housing Trust Fund. The 9 percent low income housing tax credits are expected to generate $9.6 million in private equity. The development also received $500,000 in county funds.

Tenants can apply for Section 8 housing vouchers. Individuals can earn between $21,500 and $35,850. For a two-person household, the limits are from $24,600 and $40,950.

West Bergen Mental Healthcare and the National Multiple Sclerosis Society will handle support services for residents with developmental and physical disabilities.

Email: daniel.hubbard@patch.com

Photo: Bergen County officials, Franklin Lakes Mayor Frank Bivona, NJHMFA Executive Director Charles A. Richman, center, and developer Joseph Alpert cut the ribbon at McCoy Place on Friday (Courtesy of New Jersey Housing and Montgage Finance Agency)