Above is a rendering of the apartment complex planned for 722 Chancellor Ave. Now that Irvington has been awarded the 9-percent low-income housing tax credit from the state and has been authorized to proceed with the construction, new affordable housing is that much closer to becoming a reality in the township. The township had been on the list of the New Jersey Housing and Mortgage Finance Agency’s targeted municipalities that are eligible for low-income tax credits. Construction may begin in the late spring.
IRVINGTON, NJ — As the new year began, Irvington Mayor Tony Vauss and project developer Adenah Bayoh’s wait to see whether they would be chosen to receive funding for the luxury apartment complex project planned for the grassy corner area of 722 Chancellor Ave. was finally over: Irvington will receive aid.
The township was on the list of the New Jersey Housing and Mortgage Finance Agency’s targeted municipalities that are eligible for low-income tax credits.
This project has now been awarded the 9-percent low-income housing tax credit from the state and has been authorized to proceed.
“I want to thank the state for recognizing the need for affordable housing and for helping to pave the way for a 100 percent affordable project in Irvington,” Vauss said in a quote sent to the Irvington Herald on Tuesday, Dec. 31. “I want to thank Gov. (Phil) Murphy and his entire team for recognizing that projects like these and many more are so vital to urban communities. This project is going to bring more developments into Irvington.
“I would like to thank the NRP Group and our hometown favorite, developer/entrepreneur Adenah Bayoh, for bringing another great project to the township of Irvington,” he added.
An Irvington native, Bayoh said she’s grateful to be a part of the team.
“I want to thank Mayor Tony Vauss and his entire team for their tireless effort in making this project happen.” Bayoh said in a quote sent to the Irvington Herald on Monday, Dec. 30. “I am just grateful to be part of such an amazing community and development team.”
The large area of 722 Chancellor Ave. is expected to be transformed into a 100 percent affordable apartment community, becoming the southern housing complex of Irvington to correspond with the northern housing complex at 280 Park place, which was constructed where Irvington General Hospital was once located.
Funded by Bayoh and the NRP Group, the project will cost an estimated $16 million. The five-story luxury tower will house 56 apartment units, each with a spacious layout; a 1,600-square-foot community space; energy-efficient systems; a fitness and wellness center; laundry facilities; off-street parking; and some high-end amenities.
Local service providers such as The Urban League of Essex County and the YMCA of Greater Newark will provide residents with access to a variety of on-site services, including adult education, financial literacy, employment coaching and social service case management.
With Irvington being hand-picked to receive the aid and the township receiving the credit, construction may begin in the late spring.
Irvington receives 9-percent tax credit to build luxury apartment complex added by EmilyAnn Jackman on
View all posts by EmilyAnn Jackman →