Pacific Landing Affordable Rental Apartments
Pacific Landing is designed to be a mixed use, energy efficient with green featured, affordable rental development, fire rated with water sprinklers. Made up of over 1000 sq. ft. of space which will also serve as the CDC’s place of operation, community meeting space and 8 rental units, 5-2 bedroom apartments and 3-3 bedroom apartments. These units will service a population of mixed level, low income residents. The 3 bedroom units range from 1,168 sq. ft.-1,285 sq. ft. and are all equipped with half bathrooms in the Living room/Dining room areas and the 2 bedroom units range from 878 sq.ft.-956 sq. ft. All units, includes its own HVAC unit, stainless steel kitchen appliances; dishwasher, oven and refrigerator, Corian counter-tops, hardwood floors and a sophisticated remote security system that includes magnetic window sensors and motion detectors.
The common areas shared by the residents include a social area in the rear yard of the building, a laundry room and a split vestibule houses a wall mounted telephone entry system and recessed mounted mailboxes.
With the hired financial services of The Metro Company, MCCDC retained five funding sources for this project and a 30 year municipal tax abatement. Our funders are the New Jersey Department of Community Affairs, the Federal Home Loan Bank of New York, Jersey City HEDC/DCD HOME funds, Jersey City Affordable Housing Trust Fund and Bayonne Community Bank.
MCCDC is also designated to develop in partnership with Frank Cretella of Landmark Developers, a for profit entity, to do 2 additional sites in the Morris Canal area. A 35-45 mixed use development on Communipaw Avenue between Woodward Street and Manning Avenue in Jersey City; this project is designed to create workforce home ownership opportunities. A total of 12 parcels are needed for this project, and 11 have been acquired to date.