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HUD   >   State Information   >   New Jersey   >   Stories   >   2014-07-28
HUD Attends Paterson Ribbon Cutting for New Affordable Housing

Attendees gather to cut the ribbon By Adam Glantz.

Newark Field Office Director Maria Maio-Messano recently attended a highly anticipated ribbon cutting in Paterson, New Jersey at Heritage Alexander Hamilton. The complex, located in the heart of the city, was on the drawing board for three years before its completion. City, State and federal officials were eager to unveil the newest section of Alexander Hamilton, and tout the partnership that resulted in the transformation of one of the city's most notorious and crime-ridden areas. The latest phase of this long-term redevelopment project consists of 50 additional affordable apartments, a community center, gymnasium, fitness room, computer lab and public meeting rooms. Once entirely complete, the $22.5 million, LEED-certified Heritage Alexander Hamilton development will consists of 205 affordable apartments and townhouses. Additional phases to the community will include senior apartments and an early childhood education center.

"For HUD, a home is much more than a roof over a family's head," said Maio-Messano. "It is also a platform for access to jobs, education, and transportation so that children and families thrive, lift themselves up, and have a brighter future in front of them. That is what makes Heritage at Alexander Hamilton so exciting and why HUD is so proud that its HOPE VI and HOME programs played a vital part in its wonderful transformation."

Other speakers at the ribbon cutting included Paterson Mayor Jose Torres; Irma Gorham, Housing Authority Executive Director; Reverend Michael McDuffie, Housing Authority Board Chairperson; Harry Moody, Developer, Pennrose Properties, LLC; Wilfredo C Vazquez, Housing Authority Director of Modernization and Development; David Bonomo, CFO, NJHMFA; Desiree Francis, Senior VP, Capital One Bank; and, Kimmel Cameron, VP, Hudson Housing Capital.

Heritage Alexander Hamilton was developed by Pennrose Properties, LLC, in partnership with the Paterson Housing Authority and is managed by Pennrose Management Company. Residences contain open floor plans, large windows, modern kitchens, spacious closets, ceramic tiled baths, and a washer and dryer in each unit. Amenities include planned activities such as an after-school club, cooking classes, financial classes, a garden club and more. Lenders included the New Jersey Housing and Mortgage and Finance Agency, Capital One Bank, and Hudson Housing Capital.