WOODBRIDGE — The grand opening ceremony for phase one of Jacobs Landing, a community of affordable housing rentals, moves the area on Bunns Lane in Woodbridge into the 21st century.
Phase 1 has been completed with 84 apartments. The entire project, when completed, will offer 204 apartments.
“All you have to do to know about this project is to stand on Bunns Lane, which will soon be Veterans Way,” Mayor John E. McCormac said at the ceremony on April 13. “The buildings were old. … It just didn’t look so good.”
McCormac said the buildings, formerly the Woodbridge Gardens public housing complex, were built in the 1940s and 1950s as a federal housing project.
“We knew something had to be done,” he said.
McCormac said Jacobs Landing would not be a reality without the many partners involved in the project, including Ingerman Associates and BCM Affordable Housing, which has developed three senior housing developments in the township; the New Jersey Housing and Mortgage Finance Agency; the Woodbridge Housing Authority; the Woodbridge Redevelopment Agency; and the Woodbridge Affordable Housing Corporation.
Jacobs Landing “is going to include 204 apartments. … It helps us meet some of our requirements for affordable housing with the state,” the mayor said. “There will be off-street parking which will be a whole lot better for the neighborhood.”
Affordable housing is rented at below market rates to individuals and families who have an income that meets certain guidelines.
Katie Brennan, chief of staff for the New Jersey Housing and Mortgage Finance Agency (NJHMFA), said the complete renovation of the Woodbridge Garden Apartments brings new modern apartments that are affordable for families and individuals.
“Affordability is absolutely essential,” she said. “It not only creates an increase of quality of life, but [the project] also fulfills another part of the agency’s mission which is to provide supportive housing.”
Brennan said five apartments at Jacobs Landing will be set aside for individuals who will move from a shelter to permanent housing.
“Building development that is affordable to workforce families and individuals enables them to grow and stay in this community,” Brennan said. “And to have ready access to amenities, jobs and transportation – that’s a key part of our mission.”
Financing for the project is provided through a combination of equity from the syndication of the Low Income Housing Tax Credits from the NJHMFA; transferred reserves from the Woodbridge Housing Authority, an affordable housing trust fund contribution from the Woodbridge Affordable Housing Corporation; and a permanent mortgage from the NJHMFA.
“We are proud to be a financing partner investing $17 million from our conduit bond program and awarding 9 percent low income housing tax credits” for the project,” Brennan said.
Phase one of Jacobs Landing, McCormac said, is a $23 million investment in affordable housing. It is comprised of 18 one-bedroom apartments, 42 two-bedroom apartments, 21 three-bedroom apartments and three four-bedroom apartments in seven three-story buildings.
“It is important to note that no taxpayer funds have been used to construct Jacobs Landing,” he said. “The entire project is funded through federal and state grants, housing development programs and private investment.”
Jacobs Landing offers residents community space and community social services including mental health counseling, substance abuse programs, and medical and legal advocacy services.
Bruce Morgan, president of BCM Affordable Housing, said the redevelopment of the Bunns Lane public housing complex is 15 years in the making, from when he first met McCormac, who was Woodbridge’s business administrator at the time.
“At that time, he told me his No. 1 priority for redevelopment in Woodbridge was to redevelop the Bunns Lane public housing complex,” Morgan said. “It has taken longer than I would have preferred to get to this day, but no one can say we gave up on our goal.”
Morgan said the ceremony is the start of great things to come for the residents of Jacobs Landing. He said the project, which also includes phases two and three, is expected to be complete by the end of 2019.
McCormac said Jacobs Landing is named after retired U.S. Army Col. Jack Jacobs, who was a Woodbridge hero in the Vietnam War.
“He is probably the most decorated veteran ever to come out of Woodbridge,” the mayor said. “[Jacobs] is a very active person who lives in California. He is a regular contributor to MSNBC and military affairs.”
Jacobs is a 1962 graduate of Woodbridge High School. He served two tours of duty in the Vietnam War and was awarded the Medal of Honor. He received two Silver Stars, three Bronze Stars and two Purple Hearts.
McCormac said Jacobs could not make it to the ceremony.
“We wanted to thank him for allowing us to use his name and recognize his service to this great country,” the mayor said.
Contact Kathy Chang at [email protected].