The project has been in the works for about three years, according to Brisben officials, and public funding has been a key part of the equation. Of the estimated $13 million cost to build Brookshire Senior Apartments, the New Jersey Housing and Mortgage Finance Agency and the state's Department of Community Affairs are kicking a total of more than $11 million.
"It's the goal of the administration [of Gov. James McGreevey] to create affordable housing opportunities for all of our senior citizens," according to Susan Bass Levin, commissioner of the state's Department of Community Affairs, speaking at the groundbreaking on Tuesday. "We are proud of the public-private partnership that we have formed to create a project like this."
The complex is designed for independent living for seniors, and unit rents range between $500 and $900 per month. Most of the apartments--100--are two-bedroom units, with the rest being one bedroom.
The project also marks the initial foray by Brisben into the Garden State. Most of its development activity to date has been in the Southeast and Midwest, and it had come as far east as Pennsylvania. Brisben's individual companies include Brisben Development, Brisben Construction, and its property management arm, National Realty Management.
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