At the New Jersey Housing and Mortgage Finance Agency (NJMFA) board meeting, Heritage Village at Moorestown, a 55+ senior development being built by Community Investment Strategies (CIS) Inc., received close to 9 million dollars from the Affordable Housing Production Fund (AHPF).
Heritage Village at Moorestown is an 82-unit new construction community designated for senior affordable living on Centerton Road in Moorestown Township.
In addition, Statewide Care, LLC (Care Strategies) will be the provider of support services. Heritage Village will provide Healthy Lifestyles and Education Programming to promote an active and healthy lifestyle for residents.
Heritage Village at Moorestown will have a total of 82 units. Seventy-five will be one-bedroom units at an average of 749 sq. ft., and six units will be two-bedroom at an average of 1037 sq. ft.
The in-unit full amenities include Energy Star-rated appliances keeping tenant utility costs low and building on sustainable energy components.
The building includes on-site management offices, a community center and common areas including a club room, fitness center, computer lab, mail room, laundry room and lounge. There will be 156 parking spaces.
The proposed rent for the 75 one-bedroom units will range from $362 to $1,146, and the six two-bedroom units will range from $436 to $1,377, depending on the target population's income range.
Moorestown Township purchased the land for the development as a part of their Fair Share Housing settlement agreement and for its access to local transportation and great retail close by. Construction is expected to begin in spring 2024 with completion in fall of 2025.