The New Jersey Economic Development Authority (NJEDA) on Wednesday announced it approved of up to $35.3 million in tax credits to support a major new affordable housing project for seniors in Totowa.
The project, known as Totowa Affordable Housing, will transform the former Little Sisters of the Poor facility on Shepherds Lane into a fully affordable residential community for residents aged 62 and older. The development, led by Christian Health, marks a significant step in addressing the region’s growing need for accessible and stable senior living.
The initiative will convert the existing property into 141 residential units, specifically designed to meet the needs of the local senior population. The unit mix includes:
- 8 studio units
- 123 one-bedroom units
- 10 two-bedroom units
- 1 superintendent’s unit
Beyond the residential units, the adaptive reuse project includes extensive renovations to provide a comprehensive living environment. Planned amenities feature a fitness center, a library, multiple resident lounges, and a large dining and multipurpose room. Significant site upgrades are also slated for the surrounding areas to improve accessibility and aesthetics.
The project is funded through the NJEDA’s Aspire Program, a gap-financing initiative created under the Economic Recovery Act of 2020. The program provides tax credits to real estate development projects that demonstrate a financing gap, ensuring that critical projects remain economically feasible. The $35.3 million award represents up to 60% of the total project cost.
In addition to the NJEDA support, the project is backed by Low-Income Housing Tax Credits from the New Jersey Housing and Mortgage Finance Agency.
“The Aspire Program continues to expand housing affordability and supporting projects that strengthen communities and uplift vulnerable populations,” NJEDA Chief Executive Officer Evan Weiss said. “Supporting new affordable senior housing is critical to meeting New Jersey’s evolving housing needs, and this development will provide older residents with stable, accessible living spaces.”
The project has garnered strong support from local leadership, noting its role in meeting the borough’s affordable housing obligations while repurposing a prominent local landmark.
“I am pleased that Christian Health will be taking over the Little Sisters of the Poor facility and I welcome them to Totowa,” Totowa Mayor John Coiro said. “They will continue to offer assisted living facilities to those individuals in need. Additionally, the use of this property helps Totowa achieve its affordable housing obligations.”
Christian Health, the project’s lead developer, brings over a century of expertise in managing senior housing and healthcare facilities to this redevelopment. As a performance-based program, the Aspire tax credits will be disbursed once the developer certifies that all project commitments, including affordability and construction requirements, have been successfully met.
