The groundbreaking marked the start of a Volunteers of America Delaware Valley’s newest project, a 103-unit apartment complex affordable to families and veterans.
MOUNT LAUREL – A groundbreaking on Wednesday, May 22nd marked the start of a 103-unit apartment complex affordable to families and veterans. Within two four-story buildings, Centerton Village will provide one- to three-bedroom apartments, including seven specifically for veterans. The complex also will include a playground, community room, on-site laundry and on-site case management.
Speakers at the groundbreaking event included Chuck Richmond, New Jersey Housing and Mortgage Finance Agency (NJHMFA) Executive Director; Kurt Folcher, Mt. Laurel Township Mayor; Carol Murphy, Assemblywoman Legislative District 7 and Stephen Steglik, Mt. Laurel Township Council.
“We are proud to be able to host this groundbreaking for our newest program, Centerton Village. It will be a place that residents will be proud to call home.” states Dan Lombardo, President/CEO of Volunteers of America Delaware Valley, “Our goal is always to give hope to those in need and the communities in which they live and work.”
NJHMFA awarded the development Low Income Housing Tax Credits, which provided $16.6 million in private equity. The agency also provided $4.4 million in mortgage financing and $150,000 through its Money Follows the Person Partnership Fund.
“We are proud to once again work with Volunteers of America Delaware Valley to provide homes that are affordable to working families and strengthen communities as we build a stronger and fairer New Jersey.” said NJHMFA Executive Director Richman.
Rents for one bedroom apartments will range from $423- $874 for residents earning between 20 percent up to 57.5 percent of the area median income (AMI); $852- $1,049 for two-bedroom apartment for residents earning up to 57.5 percent AMI and $985- $1,212 for three bedroom units for residents earning between 47.5 percent to 57.5 percent AMI. The project is adjacent to a grocery store and other retailers, and Virtua Medical Center. Centerton Village is estimated to be completed in May 2020.
About Volunteers of America Delaware Valley (VOADV):
VOADV is a local affiliate of national, non-profit organization, Volunteers of America, and provides essential services to our community’s most vulnerable individuals. Each year, VOADV serves more than 13,000 individuals throughout the southern New Jersey and Philadelphia region and operates more than 40 high quality, outcome-driven assistance programs – from homelessness, reentry, veterans assistance and affordable housing services to specialized programs for individuals with addiction, traumatic brain injury and/or intellectual disabilities. To learn more, visit: <a href="http://www.voadv.org.
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