Burlington Township, N.J.,October 28, 2024–Burlington Township local officials joined Community Investment Strategies, Inc. (CIS) representatives for a ribbon-cutting ceremony to celebrate the grand opening of The Place at Burlington. This new development will provide 84 affordable apartments to families in Burlington Township.
The Place at Burlington, developed by CIS Inc, is a new affordable housing community consisting of 84 apartment homes, each with private entrances. There are 6 one-bedroom, 48 two-bedroom, and 30 three-bedroom units spread across four 3-story buildings.
The development will serve households earning 60% of Area Median Income ("AMI") or less.
"It's been a pleasure to work with the Mayor, Council and the Burlington administration, who were completely aligned in our goals and approach to build this project," said CEO of CIS, Christiana Foglio.
The project represents a true public private partnership with local, county and state all providing much needed subsidy. Total project cost is $25 million, with over $13 million provided through LITC investor Redstone and Td Bank $5 million in Municipal housing trust funds, $550,000 in Burlington County HOME, and over $6 million in Permanent mortgage and grant funding from the NJHMFA.
All units are Energy Star® certified and have appliances such as a refrigerator, range hood, stove/oven, and dishwasher. Amenities include washer and dryer hookups, frost-free refrigerators, linen closets, pantries, blinds, storage space, high-speed cable and internet, luxury flooring, ceramic-tiled baths, and high-efficiency central heating and air conditioning.
The Place at Burlington has a classically designed building exterior, an on-site clubhouse to be used by resident for programmed activities, 24/7 emergency maintenance, and is a 100% smoke-free community.
The development is close to other residential neighborhoods, local schools, retail areas, and major highways Rte.295 and Rte.130.
“We're excited to see The Place at Burlington come to life, offering much-needed affordable housing for our community. This project represents a strong partnership between local, county, and state efforts, and it will have a positive and lasting impact on families here in Burlington Township” said Mayor of Burlington Township E.L. Pete Green.
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