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NORTH BERGEN, NJ-The North Bergen Renaissance Corp., formed four years ago specifically for the project, has teamed with the Fort Lee, NJ-based Alpert Group to cut the ribbon for the Theresa V. Ferraro Senior Housing complex. The project offers 104 apartments, all but 12 of them one-bedroom units, totaling 104,000 sf in 12 stories.

The facility was developed with the help of some Federal tax credits, along with a $1 million loan from Hudson County and a $14.5 million construction from an undisclosed source. Both loans carry a 15-year term. The NBRC will manage the property as well as a still-under-construction adult day care facility.

The complex is named for North Bergen’s commissioner of public safety, who also chairs the North Bergen Housing Authority. She also serves as president of the NBRC, and in that capacity was instrumental in getting the project developed.

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