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A 100% affordable four-story apartment building for Newark, N.J., seniors is being built on an existing vacant parcel on Clinton Avenue as the result of the work and dedication of a team of Connell Foley Real Estate Group partners.
Jennifer Carrillo-Perez, Jodi Luciani, and Elnardo Webster won unanimous approval for the site plan—along with use, density, and bulk variances for the project—from Newark’s Zoning Board of Adjustment in November 2023. The project comprises a mix of one- and two-bedroom residential units—for a total of 65—plus 38 off-street parking units, and tenant amenities that include a fitness center, multipurpose room, and lounge.
“This is smart development,” said Jennifer Carrillo-Perez. “It both serves a vulnerable population and revitalizes a neighborhood.”
To finance the project, its developer, 297 Clinton LLC, a subsidiary of Paramount Realty Services, will be seeking tax credits from the New Jersey Housing and Mortgage Finance Agency.
