18A — October 11 - 24, 2019 — M id A tlantic
Real Estate Journal
www.marej.com
M id A tlantic R eal E state J ournal
HMFA, Federal Home Loan Bank, the Township of Saddle Brook & the HDC provide additional funding SB One Bank helps bring affordable senior housing to Saddle Brook S but will make a considerable difference in the lives of local residents.”
ADDLE BROOK, NJ — SB One Bancorp , the holding company for SB One Bank, announced its part- nership in the development of the Saddle Brook Senior Hous- ing which was just recently completed by the Housing Development Corporation (HDC) , the non-profit arm of the Housing Authority of Bergen County . SB One Bank provided $4.95M in financing for the two-story senior citizen low- rise apartment building which is located at 29 Caldwell Ave. Additional project funding was
provided by the New Jersey Housing and Mortgage Finance Agency (HMFA) , Federal Home Loan Bank, the Township of Saddle Brook and the HDC. “We are honored to be a part of this project as it rings true to our commitment to giving back to the communities that we serve,” said Anthony DeSen- zo , executive vice president & head of commercial banking at SB One Bank. “Affordable housing is a commodity in Bergen County, and we are confident that the new devel- opment is not only necessary
The property owned by the Township of Saddle Brook was leased to the HDC. RSC Archi- tects of Hackensack designed the building which features 30 one-bedroom apartments for senior citizens with incomes less than 50 percent of Area Median Income and six apart- ments for households that are homeless or precariously housed. It includes a common area space with a furnished community room, laundry facilities and office space for management. The building is compliant with the American Disabilities Act and includes Energy Star rated appliances, external and internal security surveillance as well as apart- ment intercoms that provide a live visual feed of those who buzz through the main entrance. “Without partners like SB One Bank it would not be possible to bring vital af- fordable housing options to Bergen County,” said Lynn Bartlett, Executive Director of the Housing Authority of Bergen County & Housing Development Corporation of Bergen County. “The demand for low-income senior housing is extremely high. In fact, the waiting list for our new Saddle Brook Housing Development was full within an hour of opening up the application process. We are happy to bring viable senior housing to Saddle Brook, and we look forward to making similar housing op- tions available throughout the county.” The Saddle Brook Senior Housing Development was for- mally unveiled during a ribbon cutting ceremony. perimeter concept and cre- ate spaces within these zones that allow for people walking to jump out of the way when they see an errant vehicle, and place them in such a way as to keep vehicle speeds to a minimum. So, yes we can defeat at- tacks by redesigning the space to keep mass casualties to a minimum. Doug Haines is owner/ CEO of Haines Security Solutions, LLC in Ventura, CA. continued from page 3A Can the ramming- vehicle threat . . .
29 Caldwell Ave.
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