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Old 12-20-2011, 11:45 AM
 
56 posts, read 172,243 times
Reputation: 39
Default Looking for home in Monroe

Before anyone thinks I did not read and search for previous posts on this topic - please rest assured I did.

On a serious note - what I am looking for is some help/advice on where and how to proceed. We are looking for a relatively new place and have been reading up on Monroe Manor and Stratford at Monroe. Both seem nice but Monroe Manor seems to be a better price value and offers a pool and club. However, I have also read that both developments are building housing for low income units. Does anyone know a bit more about this? It seems like many houses are for sale in both developments. Is there are reason for this or were the people who were trying to flip?

Also, does anyone who may have bought or put a deposit down on these developments have any feedback on current pricing, etc. Thanks in advance.
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Old 12-20-2011, 12:00 PM
 
Location: new jersey, us
170 posts, read 280,372 times
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No, only monroe manor has affordable housing since monroe manor has townhomes the developer I think by law has to make a certain percentage of the condos affordable housing units. Strafford on Monroe is all houses and does'nt have any townhomes in its development so there is no affordable housing there.
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Old 12-20-2011, 12:15 PM
 
56 posts, read 172,243 times
Reputation: 39
Quote:
Originally Posted by subban View Post
No, only monroe manor has affordable housing since monroe manor has townhomes the developer I think by law has to make a certain percentage of the condos affordable housing units. Strafford on Monroe is all houses and does'nt have any townhomes in its development so there is no affordable housing there.
Subban,
Thanks for the info. Do you live in the development? I was told they are in fact building townhouses and low income units. Below is some info I gathered off the web.

MONROE TOWNSHIP AFFORDABLE HOUSING PROGRAM

There is a total of 332 new low and moderate income sales and rental units that are in the planning stages for Monroe Township within two development areas: Tall Oaks at Monroe Manor and The Stratford at Monroe. Within each development area, there are various components that include affordable housing units (as set forth below). At least one half of the affordable housing units in each of the components will be set aside for low-income families, while the balance are being be set aside for moderate income families.

MONROE MANOR
(102 ownership and 25 rental Condominiums)

STRATFORD AT MONROE
(38 ownership, 45 rental & 122 senior rentals)
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Old 12-20-2011, 12:15 PM
 
213 posts, read 199,066 times
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My husband and I looked at both within the past month. We haven't moved forward yet (not sure if we will). In Monroe Manor we liked the Farrington - they were offering this for $465K I believe, plus $10K worth of upgrades. In Stratford, we didn't get as far as talking about pricing, but I have recently read (and have some conversations) that they are offering the Gold model (the most expensive one), at $530K with a bunch of incentives.
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Old 12-20-2011, 12:24 PM
 
Location: new jersey, us
170 posts, read 280,372 times
Reputation: 62
Quote:
Originally Posted by njposter View Post
Subban,
Thanks for the info. Do you live in the development? I was told they are in fact building townhouses and low income units. Below is some info I gathered off the web.

MONROE TOWNSHIP AFFORDABLE HOUSING PROGRAM

There is a total of 332 new low and moderate income sales and rental units that are in the planning stages for Monroe Township within two development areas: Tall Oaks at Monroe Manor and The Stratford at Monroe. Within each development area, there are various components that include affordable housing units (as set forth below). At least one half of the affordable housing units in each of the components will be set aside for low-income families, while the balance are being be set aside for moderate income families.

MONROE MANOR
(102 ownership and 25 rental Condominiums)

STRATFORD AT MONROE
(38 ownership, 45 rental & 122 senior rentals)

No, I did'nt know. I live by the development and saw them constructing the new townhomes by stratford on monroe but I thought it was senior housing. Did'nt know they were condos also for affordable housing. thx, for the info.
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Old 12-20-2011, 01:51 PM
 
56 posts, read 172,243 times
Reputation: 39
Quote:
Originally Posted by lauren810g View Post
My husband and I looked at both within the past month. We haven't moved forward yet (not sure if we will). In Monroe Manor we liked the Farrington - they were offering this for $465K I believe, plus $10K worth of upgrades. In Stratford, we didn't get as far as talking about pricing, but I have recently read (and have some conversations) that they are offering the Gold model (the most expensive one), at $530K with a bunch of incentives.
Lauren,
Thanks for the info. Did you look into any other areas? Also, for the pricing you mention above was this given right off the bat or did you and your friend need to haggle with them?
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