Representatives of Pennrose Management and Mayor Nicole Gillespie (third from left) at groundbreaking of the affordable-housing community, expected to begin welcoming residents next spring.
Moorestown Mayor Nicole Gillespie, Pennrose Management Company representatives and project partners recently marked the groundbreaking of the Residences at Harper, a 76-unit affordable-housing community planned for the intersection of East Gate and Harper drives in the township.
The community will begin welcoming residents next spring. Units will be available to families at 30% to 60% of the Area Median Income (AMI), about $24,090 to $48,180 for a one-person household. Five units will be set aside for formerly homeless individuals and families, four will be accessible to residents with physical disabilities and two will be outfitted for residents with hearing and vision impairments.
“This groundbreaking marks an important step forward in ensuring all Moorestown residents have access to safe, quality, affordable housing,” Gillespie said.
Residents will also have access to on-site amenities such as parking, an outdoor playground and recreation area, a community room and space for the delivery of supportive services. Once complete, Residences at Harper will be managed by Pennrose.
Once completed, Residences at Harper will be the first larger-scale, low-income Housing Tax Credit (LIHTC) community for family occupancy in Moorestown. More than 82% of the township’s units are owner-occupied, demonstrating the need for affordable rental housing. Statewide, the National Low Income Housing Coalition estimates that New Jersey is facing a shortage of more than 200,000 affordable rental homes.
The $28 million Residences at Harper project is funded with various state and local monies and is receiving support from the township and Burlington County through the HOME program, and the New Jersey Housing & Mortgage Finance Agency’s Affordable Housing Production Fund.
