Aberdeen Officials Mark Grand Opening of Hudson Ridge Development

Aberdeen Township representatives were joined by state and county officials, and representatives of RPM Development at the grand opening of the Hudson Ridge Residences and Hudson Ridge Senior Residences, a 145-unit affordable rental development on October 18.

Joining Mayor Fred Tagliarini and Deputy Mayor Robert Swindle were Council members Margaret Montone and Connie Kelley; Aberdeen Economic Business Council Chairman Carmine Visone, along with Monmouth County Freeholder Gerry Scharfenberger; Catherine McCabe, Commissioner, NJ Department of Environmental Protection; and Edward Martoglio, President, RPM Development.

Located at 100 Church Street in a redevelopment area that was previously the site of a former steel and plating company that underwent a significant environmental cleanup, Hudson Ridge Residences includes 70 one- to three-bedroom apartments for very low- to moderate-income families earning up to 60 percent of the area median income (AMI). The site’s Senior Residences building provides 75 one- and two-bedroom units for very low- to moderate-income people aged 55 and over, earning up to 80 percent of AMI. Both buildings include five units set aside for residents with developmental disabilities. Each building has its own community room, which is restricted to building residents. The site also includes a standalone senior center for all Aberdeen residents.

Currently, 49 of the 70 Hudson Ridge Residences units are occupied, with all other apartments rented. Residents are expected to start moving into the senior component within the next two weeks, with over half the building pre-leased.

“Hudson Rudge was an important project for Aberdeen on many fronts,” Mayor Tagliarini commented at the event. “In addition to providing attractive, affordable housing with great amenities for seniors and families, it returned an abandoned industrial property to the tax rolls—complete with a full environmental cleanup. As an added bonus, the developers are providing a modern new Senior Community Center dedicated for all in Aberdeen. We are thrilled to see another unproductive site transformed into something our entire community can be proud of.”

Financing for the project was provided by the New Jersey Housing and Mortgage Finance Agency (NJHMFA) and the Fund for Restoration of Multifamily Housing (FRM).

As a result of the exacerbated need for affordable housing after Superstorm Sandy, the project received approximately $25.8 million in federal Community Development Block Grant Disaster Recovery financing from the FRM through a program that provides for-profit and nonprofit housing developers an opportunity to secure zero-interest and low-interest loans to finance the development of affordable housing in the nine counties most impacted by the storm.

“The Hudson Ridge development not only provides vital housing that is affordable but reinvests in an area which has been in dire need of redevelopment for some time,” said NJHMFA Executive Director Charles A. Richman. “At the same time, as the six-year anniversary of Superstorm Sandy approaches, we are pleased to see another development come to fruition that has helped rebuild and restore a community that was terribly affected.”

“With access to local amenities and supportive services, this new residence will provide mixed income households as well as seniors and disabled persons a new lease on life,” added Lt. Governor Sheila Y. Oliver, Commissioner of the Department of Community Affairs and chairwoman of the NJHMFA board.