Acquisitions—East Orange, NJ
In June 2012, the Rose New Jersey Green Affordable Housing Preservation Fund acquired Arlington House, a 179-unit senior Section 8 property in East Orange, NJ. The property benefits from a long-term project-based Section 8 Housing Assistance Payment (HAP) contract through May 19, 2031, and 100% of the units are reserved for senior citizens earning below 50% of AMI.
The property is located in southeastern East Orange, within easy walking distance to essential retail and services, as well as transit connectivity. The property is not only convenient to the East Orange NJ Transit commuter rail stop (approximately ¼ mile to the north), but also to numerous bus lines with routes to and from downtown Newark that run along Central Avenue. The main East Orange Police precinct is located 500 feet to the north of the property, while East Orange General Hospital is located 500 feet to the south. Energy efficiency upgrades, including installation of new high efficiency boilers, a lighting retrofit and installation of new double paned windows, were completed prior to closing.
Preservation and greening of 100% affordable section 8 housing
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