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Pennrose and the Township of Edison Break Ground on Truman Square
May 15, 2019
Pennrose and the Township of Edison celebrated the groundbreaking of Truman Square, Phase I. Located on the former U.S. Army Camp Kilmer base, the two-phase redevelopment will create 172 units of high-quality, affordable housing for families, veterans, and formerly homeless individuals. Camp Kilmer is a key component of Edison’s affordable housing plan.
Speakers at the event included Thomas Lankey, Mayor, Edison, NJ; Robert J. Karabinchak, Assemblyman, District 18, State of New Jersey; Charles E. Tomaro, Freeholder Deputy Director, Middlesex County; Lynne Patton, Regional Administrator, U.S. Department of Housing & Urban Development; Deborah Hurley, Executive Director, Edison Housing Authority; Leslie Stivale, Executive Director, Triple C Housing, Inc.; Raymond Clawson, MSW, Community Support Specialist, Military Veteran; Christopher Memoli, Santander Bank, Senior Director of Community Development Finance; Paul Héroux, Chief Bank Operations Office, Federal Home Loan Bank of New York; and Jacob Fisher, Regional Vice President, Pennrose, LLC.
The first phase of development includes 86 one-, two-, and three-bedroom units of affordable family housing for households with annual incomes between 20 to 60 percent of area median income (AMI), with 25 percent of the units designated as veterans housing and 25 percent set aside for the formerly homeless. 22 of the units at the lowest AMI will be supported through New Jersey’s Division of Developmental Disabilities and the Division of Mental Health and Addiction Services. Residents will have access to a community space, fitness center, and parking.
Camp Kilmer was the largest processing center for troops during World War II, processing over 2.5 million soldiers. It officially closed in 2009.
“For the past two-plus years we have worked with our partners at the Township of Edison along with our finance team to make this vision for affordable housing a reality,” said Jacob Fisher, Regional Vice President at Pennrose. “At Pennrose, we always build to the needs of the local community. Providing access to high-quality, affordable housing and tailored supportive services on a historic military site is a really special opportunity to bring an underutilized site back to productive use.”
“Camp Kilmer’s redevelopment is key component of Edison Township’s court-approved affordable housing plan. This project will provide new housing and, more importantly, peace-of-mind for veterans and seniors; for people with disabilities and for struggling families,” Mayor Thomas Lankey said. “We are proud that Edison Township's partnership with Pennrose is making this new, sustainable housing a reality for people most in need.”
“Truman Square will assist vulnerable residents in need of a stable place to call home,” said Lynne Patton, HUD Regional Administrator for New York and New Jersey. “Secretary Carson and I are proud to support these efforts through $400,000 in HUD HOME funds which, coupled with local and private funding sources, will ensure housing for the homeless, disabled, and area residents for years to come.”
Pennrose Management Company will serve as property manager for the community and Triple C Housing, Inc. will provide supportive services for veteran and formerly homeless residents, including peer support and veteran to veteran services. The project was designed by WRT, LLC, one of the nation’s preeminent affordable housing planning and design firms.
Financing for the project came from a nine percent Federal Low-Income Housing Tax Credit loan, with additional funding from First Mortgage, County Housing First Funds, Federal Home Loan Bank of New York, County HOME and Housing First Capital Funds, New Jersey Housing and Mortgage Finance Agency and TDC.