New Pennsauken housing complex nears completion

A lucky few chosen from thousands of applicants soon will be able to call the Riverfront Village in Pennsauken their new home.

With construction expected to finish ahead of schedule, the first tenants could begin moving into their new digs in February, said Nick Cangelosi, a project manager for Conifer L.L.C., the construction and management company overseeing the project.

"It's moving quickly," Cangelosi said in an interview last week. Construction began in March and was expected to take at least 12 months. Relatively mild weather pushed up that timeline, he said.

With affordable housing hard to find in New Jersey, the $19.6 million project has been highly anticipated. More than 2,200 people have signed up for a chance to apply to lease units and more are expected to join the waiting list.

The three-story complex backs up to a scenic view of the Delaware River and will feature a computer lab, fitness center, and playground. There will also be a 1,200-square-foot community room, and a tot lot with state-certified playground equipment.

More important, the 75 coveted units will help fill a critical void in New Jersey, one of the least affordable places to live and one of the most economically segregated states in America.

"To be able to provide this kind of housing for low-income folks is something that we are very proud of," Camden County Freeholder Director Louis Cappelli said.

For years, the site at the corner of River Road and 47th Street was a neglected, overgrown, and weed-riddled lot. A nearby Acme Market sat vacant, with its facade crumbling since the 1990s.

It sits directly in the middle of a similarly unkempt neighborhood that straddles the Camden border. Residents hope the project will boost property values, and developers hope more businesses will follow.

The project was funded mainly through the federal low-income housing tax credit program - more than $15 million of the estimated $19.6 million cost was funded through tax credits.

The program was undertaken as part of the Tax Reform Act of 1986 to spur construction of affordable housing across the country. Pennsauken contributed $838,773 to the development.

"This is a wonderful thing for the Pennsauken community," said Mayor Jack Killion. "Over the last 10 years or so, we've been trying to redevelop this area, but nothing seemed to be a good fit for our community. With Conifer's project, I think we've finally hit a grand-slam home run."

Conifer has 400 affordable housing units under construction in the region, in South Kensington, Florence Township, Egg Harbor City, Atlantic City, Middle Township in Cape May County, and Long Branch, Cangelosi said.

The Pennsauken location is one of the most highly sought after and will be a flagship property with state-of-the art heating, cooling, and plumbing systems, he said.

"This is going to be one of the most energy efficient communities we have in our portfolio," Cangelosi said. "We anticipate a very high response."

All the units will be allocated based on income, including five that will be set aside for homeless veterans. Volunteers of America Delaware Valley will provide services to the veterans.

Typically, such units are a big draw for firefighters, police officers, teachers, and other professionals who often can't afford to live where they work. The complex is within walking distance of public transportation.

"It's going to be a great place to live," Cappelli said. "It's an outstanding use of a vacant property."

Rents are expected to range from $700 to $1,150. Applicants must pass criminal background and credit screenings.

Last week, Conifer began mailing applications to the 2,200 people on its "interest list," Cangelosi said. The complex is expected to fill up quickly, with the last residents moving in around late March, he said.

For application information, call Chestnut Station at 856-662-2522.