Groundbreaking for New Senior Citizen Affordable Rental Housing

CINNAMINSON TOWNSHIP, NJ (October 26, 2018) — Officials from Moorestown Ecumenical Neighborhood Development (MEND) and its joint-venture development partner, Conifer Realty, LLC and Cinnaminson Township recently held a groundbreaking ceremony for a 54-unit affordable rental senior housing community on Riverton Road in Cinnaminson.

Located on the site of the former Cinnaminson Home on Riverton Road, the new community will provide below-market rental units for low and moderate income-eligible senior citizens and adults with special needs aged 62+. The 2.7-acre property was previously owned by Cinnaminson Township who designated MEND as the developer. Occupancy is expected in late fall 2019.

“It’s been a long road working on the development of this project, and we’re excited the time has finally come to officially start construction,” said Matt Reilly, President and CEO of MEND. “We truly appreciate Cinnaminson Township’s support during this process and look forward to providing more affordable rental housing options to seniors in our community.”

Fifty-three one-bedroom apartments and one two-bedroom unit will be situated in a new construction three-story building. Units will be equipped with Energy Star-rated appliances and light fixtures, high-efficiency heating and cooling systems and water-saving plumbing features. Each unit will include full kitchens, living and dining room areas, full baths, generous bedrooms and ample closet space.

“We appreciate Cinnaminson Township’s cooperation and diligence on this project, and we’re proud to continue our long-standing relationship with MEND,” said Charles M. Lewis, Senior Vice President, Conifer Realty, LLC. “The end result of our partnership will be an affordable community for senior residents that Cinnaminson can be truly proud of.”

The roughly $12.9 million project is being funded through Low Income Housing Tax Credits from the New Jersey Housing and Mortgage Finance Agency (HMFA), HOME Funds from Burlington County, Construction financing from TD Bank and Permanent mortgage from CDT Bank.