Franklin Street Villa Ribbon Cutting

Franklin Street Villa Ribbon Cutting
County Clerk John Hogan, Domus Corporation John Westervelt, NJHMFA Executive Director Anthony L. Marchetta, HABC Executive Director Lynn Bartlett, Northvale Mayor Ed Piehler, Director of Development John Biale, Assemblywoman Holly Schepisi (R), Assemblywoman Valerie Vainieri Huttle (D)

Today The Housing Development Corporation, a non-profit arm of the Bergen County Housing Authority, and the Domus Corporation celebrated the ribbon cutting of a new senior/veteran housing project, now called the Franklin Street Villa located at 188 Franklin Street, Northvale.

Eight of the 29 units have been set aside for special needs veterans. Of these eights units, three of them are restricted to applicants 55 years of age or older, and three units in which the households are at or below 30% AMI. This modular building was actually built in Scranton, Pennsylvania, by Simplex Homes.  It was delivered in 43 boxes and reconstructed on the property here in Northvale in approximately 10 working days.

Funding for this project came from several sources.  National Equity Funding (NEF) was the primary Tax Credit Investor.  A debt of thanks is owed to the Bergen County Community Development Block Grant, another partner joining in as an additional funding source.  TD bank also partnered in the funding on this project with a construction loan.

The list of professionals responsible for bringing this project together is as follows:

Tax Credit Consultant: The Metro Company, LLC – (Stuart Portney and Heather Lawler)

Architect: Steven Cohen

Engineer: Robert Costa

Attorney: Holly Schepisi

General Contractor: Angelo Del Russo of Del Sano Contracting Corporation

Thank you to Mayor Ed Piehler, the Northvale Council, and the Northvale Planning Board for their support and assistance in making this a premier affordable Housing project.

Very special thanks to Father Jerry Hahn of St. Anthony’s Parish for his patience and good will through the construction period.

Franklin Street Villa Ribbon Cutting