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Can anyone give me the background on this affordable housing program in New Jersey. There are luxury apartment buildings going up and I see that they offer a lottery for apartments at some of these places. I am puzzled at how this could be. I've inquired about a particular luxury apartment complex and when I did a tour of the complex and I asked of this they told me to contact Piazza and Associates website. Now my issue is not me qualifying for it, my issue is that I am market price renter. Is it fair to residents that they do not know that there are low income people living on subsides while they are paying full price. 2500k+ depending on unit. Do you have the the right to know this information? Who is paying the difference of the market price and the discounted price? The city tax payers, government, etc?
I am baffled that a luxury community (roseland) would do this to market price renters. I thought the purpose of affordable housing was HOUSING, not granite countertops, wood floors, stainless steel appliances, pools, gyms, etc.
Below is what they pay on this program. FYI a 3 bedroom unit is 4200 and a 2 bedroom unit is 3200. Yes it's inflated but money is not an issue for some. It becomes an issue when it's a clash of low income and market rent payers.
Any insight?
2 Bedroom, Very Low Income
$505
Min. Income: $22,457
2 Bedroom, Low Income
$740
Min. Income: $29,486
2 Bedroom, Moderate Income
$974
Min. Income: $38,537
3 Bedroom, Low Income
$840
Min. Income: $35,040
3 Bedroom, Moderate Income
$1,117
Min. Income: $44,537
It's an outrage. Basically developers are held up at gunpoint and told to surrender a certain amount of their building to the state. Because the state belongs in the housing business and should be giving freebies to certain people. It's a disgusting perversion. The government has no business giving housing away to anyone. But we allow it, like we have allowed so may other preposterous and immoral practices. By a process of creeping collectivistic incrementalism. Just a little at a time. In the interests of "fairness". Until the monster is built and standing right in front of us, eating us alive.
It's crazy!! Or is it the developers limiting it's risk. Is it better to have the government foot the bill than risk the financial liability from market price renters?
Let me ask you... Is it wrong to deny these affordable rate renters access to the community amenities or is that a against the law? After all it's about having a roof over your head.
I don't know anything about that particular building, but I do know that in Newport in Jersey City the builder (LeFrak) was given extreme tax breaks. In exchange for that LeFrak had to provide some low-income units in their buildings.
Thanks daliowa. this seems to be the norm with new developers who are not concerned about the reputation of their property.
Just can't wrap my head around who is paying the difference. I can't see the developers taking the lose even with a huge tax break. Guess our government is footing the bill.
this seems to be the norm with new developers who are not concerned about the reputation of their property.
As I understand it, it is either the developers make available affordable housing units, or the project does not get approved by the township.
In West Windsor for example, Princeton Terrace, luxury apartments went up and the affordable housing units were available. The market price units had garages. The affordable housing units were on the first floor and did not have garages and were located "behind" the garages. You can tell by looking at the floor plans.
As I understand it, it is either the developers make available affordable housing units, or the project does not get approved by the township.
In West Windsor for example, Princeton Terrace, luxury apartments went up and the affordable housing units were available. The market price units had garages. The affordable housing units were on the first floor and did not have garages and were located "behind" the garages. You can tell by looking at the floor plans.
You are spot on about the project getting declined. In this complex though the only thing they dont have it wood flooring they have access to everything else. Luxury at a discount. Must be nice.
If you advertise as a community that accepts section 8 and is mixed income then there is no problem. But that is not the case with these buildings. They lie and hide behind the fair housing practice act.
It's unethical to market a luxury apartment and basically sell a luxury lifestyle to market renters then secretly rent to section 8. Yes these people might not have the high end finishes that the rest of the apartments do but they have access to the pool, gym, clubhouse, game room, garage parking etc. Affordable income does not belong in luxury apartment buildings.
Who is paying the difference if a 3 bedroom markets for 4k and the section 8 tenants only pay 1k?
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they have access to everything else. Luxury at a discount. Must be nice.
