M id A tlantic Real Estate Journal — Central New Jersey — August 2025 — 19
www.marej.com
C entral N ew J ersey Former public housing site transforms into high-quality, affordable senior housing Pennrose and New Brunswick Housing & Redev. Authority break ground on Hildebrand Commons
N
ing community, which was de- molished in 2012. Hildebrand Commons is named in honor of Reverend Henry A. Hildeb- rand, who served the communi- ty for more than three decades as pastor of Mount Zion African Methodist Episcopal Church. He is remembered for his deep community involvement and support of local seniors. “We are one step closer to residents settling into their new homes at Hildebrand Com- mons,” added Marsha Blunt , president at Pennrose Manage- ment Company. “With thought- fully designed apartments and
integrated supportive services, we’re creating a place where seniors can truly thrive.” Hildebrand Commons was developed with the support of New Jersey Housing and Mortgage Finance Agency (NJHMFA) construction-to- permanent financing, 4% Low- Income Housing Tax Credit (LIHTC) equity, New Jersey Economic Development Authority (NJEDA) state tax credit equity, New Jersey Department of Community Af- fairs Healthy Homes funding, and City of New Brunswick RCA and HOME funds. MAREJ
EW BRUNSWICK, NJ ) – Pennrose , The New Brunswick
© Thriven Design
Housing and Redevelop- ment Authority (NBHA) , and project partners cele- brated the groundbreaking of Hildebrand Commons, the transformation of the for- mer Hoffman Pavilion public housing site into a 66-unit affordable housing community for older adults (55+) in New Brunswick. Move-ins are an- ticipated for the fall of 2026. The six-story building will include a mix of one- and two- bedroom apartments available at 20% to 60% of the Area Median Income (AMI), $21,480 to $64,440 for a one-person household. Forty-eight units will serve as replacement pub- lic housing with RAD vouchers at 110% Fair Market Rents and 39 will be RCA units. Five apartments will be set aside for formerly homeless individuals. The energy-efficient apart - ments will feature spacious floor plans; modern, fully equipped kitchens; large clos- ets; ceramic-tiled baths; and individually controlled heat- ing and cooling. In addition, residents will have access to robust on-site community amenities, including support- ive services, an inviting com- munity room, fitness center, parking, outdoor courtyard, maintenance and management suite, and more. “It’s an honor to begin an- other impactful initiative with NBHA to deliver much-needed affordable housing for New Brunswick’s seniors,” said Jacob Fisher , regional vice president at Pennrose. “In an area with significantly long waitlists for affordable, senior rental options, Hildebrand Commons will transform a vacant and underutilized site into a critical community asset. “Hildebrand Commons rep- resents more than just bricks and mortar, it reflects our continued commitment to ensuring that New Bruns- wick remains a welcoming and supportive home for our senior residents,” said Mayor Jim Cahill . “We’re proud to partner with Pennrose and NBHA to deliver high-quality, affordable housing that will provide stability, dignity, and opportunity for generations to come.” “Our elderly population de- serves to live in safe and com- fortable conditions, and it is
Hildebrand Commons rendering
imperative that we address the challenges they face in securing suitable housing,” said Danny Toto, J.D. , executive director of the New Brunswick Housing
and Redevelopment Authority. Located at 75 Neilson St., the 0.48-acre NBHA-owned lot was the original site of the 70-unit Hoffman Pavilion public hous-
Whether you are buying, selling or financing commercial real estate, we are invested in your success. At Northmarq, we offer you a personalized approach, with unmatched access to lenders, investment sales experts, a best-in-class loan servicing platform, timely trends and insights, and much more. For us, it’s personal.
CONNECT WITH US TODAY.
NORTH NJ | CENTRAL NJ | NEW YORK CITY | LONG ISLAND | WHITE PLAINS
David Singer | 995.944.9250
Multifamily, Industrial Retail, and more View Our Research
northmarq.com Commercial Real Estate Debt + Equity | Investment Sales | Loan Servicing | Fund Management
Made with FlippingBook Online newsletter maker