104-Unit Housing Complex Opened for Seniors

NORTH BERGEN, NJ-The North Bergen Renaissance Corp., formed four years ago specifically for the project, has teamed with the Fort Lee, NJ-based Alpert Group to cut the ribbon for the Theresa V. Ferraro Senior Housing complex. The project offers 104 apartments, all but 12 of them one-bedroom units, totaling 104,000 sf in 12 stories.

The facility was developed with the help of some Federal tax credits, along with a $1 million loan from Hudson County and a $14.5 million construction from an undisclosed source. Both loans carry a 15-year term. The NBRC will manage the property as well as a still-under-construction adult day care facility.