The Planning Board last week granted preliminary site plan approval for a 58-unit affordable housing complex geared toward artists. Final site plan approval would include a full landscaping and lighting plan.
An application for a 58-unit affordable housing complex geared toward people who work in the arts and entertainment field is scheduled to come before the Planning Board on Tuesday.
A proposed 58-unit affordable housing project focused on those working in arts and entertainment will include some three-bedroom units to satisfy requirements for low-income housing state tax credits.
The concept for the Rahway Residences for the Arts appears to be getting smaller while the Redevelopment Agency continues to work toward acquiring the Elizabethtown Gas Building for the project.
The City Council will vote Monday on a $750,000 bond ordinance that would serve as a bridge loan for the acquisition of the former Elizabethtown Gas Building on Central Avenue (map).
A redevelopment agreement approved last month in March requires the Redevelopment Agency to close on the million-dollar acquisition of the Elizabethtown Gas building by September for a proposed affordable housing project for artists. Commissioners approved the agreement at their March 5 meeting (Resolution 16-14).
The former Elizabethtown Gas building will be acquired for $1 million but the Rahway Residence for the Arts planned for the site is on hold until the next application round of federal housing tax credits, which might not be until next year.