Business & Tech

Woodcrest Apartment Prices Set By Developer, Says Clark Senior Housing Pres

"We never would support building luxury adult apartments, which is now being advertised by our developer," writes Bill Caruso.

This letter to the editor was received from Clark Senior Housing President Bill Caruso. 

We, the Clark Senior Housing Corp., would like to let all the residents, especially the new residents in town, know that the Clark Senior Housing Corp is a private, non-profit company, not associated with any township's governmental agency.

The Senior Housing Corp. was organized to encourage the town to plan and build affordable housing. In December 2000, we came before the Mayor and council to ask them for help for this noble project. We were told that the town had no money to spend on senior housing or any land left to build it on. We were also told to find the money and land ourselves and then they will see what they can do to help us out.

The plan was always to help our seniors on fixed incomes that could no longer afford the high taxes on their homes, to find affordable housing in town so they can stay dose to their loved ones. We never would support building luxury adult apartments, which is now being advertised by our developer, with overpriced rental fees for the market apartments on the site.

Please bear in mind, however, we started this project over 13 years ago when we all expected the cost of land and construction would be much less than today's building market. We also want you to know we are not receiving any financial support from any federal, state, county or local goyernments to help the developer to buy the land, or to, the construction of the building of all 329 units. We had to secure all private funds to accomplish the building of this project.

Please also be advised that the developer had agreed to subsidize the 66 affordable apartments from the higher rentals of the market apartments, and in absence of any town help to satisfy COAH obligations to provide affordable housing in this town. The Senior Housing Corp. was then responsible to assemble a waiting list of the town seniors who would then chose to live there.

We, the Senior Housing Corp., had no input on how much the market apartment rentals would start at in 2014. 

The town Mayor and Council insisted as part of the agreement that Clark seniors would get the first opportunity to apply for an apartment on this site. Also remember that this town will be receiving approximately $750,000 in tax ratables each year to defray your taxes. If the future administration manages that income properly it could mean lower taxes for you, the homeowner. 

We have been told by the developer that the first building is opening up in mid-January after 14 years, thank God.

The Senior Housing Corp. and town officials had no part in setting up the rental rates for the market apartments on this site.

I hope this letter sets the record straight on how I was able to get senior housing in this town and who is responsible for the pricing of those apartments.

Bill Caruso, President
Clark Senior Housing


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