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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.

"Woodcrest at Clark" under construction on Terminal Avenue.
"Woodcrest at Clark" under construction on Terminal Avenue.
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
WILLIAN CARUSO January 09, 2014 at 09:32 AM
DEAR PATTI WHO KNOW HOW MUCH A TWO BED ROOM APARTMENT RENTS WOULD COST 14 YEARS LATER AND THE COST OF CONSTRUCTION TO BUILD ? AND WE HERE HAVE NO CONTROL OVER MKT APARTMENTS ON THE SITE.
WILLIAN CARUSO January 09, 2014 at 09:52 AM
DEAR LEENIE2U WE ARE TAKING A LOT OF FLACK OVER THE COST OF THE RENTS BUT WE HAVE NO CONTROL OVER THE MKT APARTMENTS ON SITE ONLY THE 20% AFFORTABLE WHO KNEW WHAT RENTS WOULD COST 14 YEARS LATER?
Leenie2u January 09, 2014 at 10:24 AM
I understand, Bill, but I'm asking for ballpark figures here. Also, Clark residents were all for senior housing, not a large apartment complex. With that would come a need for more schools to accommodate more students and that means more taxes, teachers, maintenance and police, etc. we're a small town of single family homeowners and that's the way we like it! Hindsight is 20/20, this project should have been much smaller and should be run like Linden's Senior housing. Sorry you're taking flack Bill, but someone bamboozled you and the Clark Senior Housing Corp on this project. Like I asked, what will the owners do if/when they are not fully occupied?
WILLIAN CARUSO January 09, 2014 at 11:01 AM
dear leenie2u You have to ask the developer that question they can not lower the age requirement. ITS PART OF THE ZONNING NOW
Leenie2u January 09, 2014 at 11:16 AM
Glad they can't lower the age requirement, that goes in the plus column. Thanks for responding to everyone's questions.

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