TEANECK, N.J. — The Alpert Group, along with its nonprofit partner Geriatric Services Inc., has broken ground on a 40-unit affordable housing community for seniors in Teaneck, just across the Hudson River from Manhattan and The Bronx.
The community will rise five stories, and the mostly one-bedroom units are reserved for those over age 62 meeting income requirements. The project will replace a vacant municipal facility currently at the site.
Rents will range from $336 per month to $1,451 per month, depending on the size of the unit and the income of the resident.
The developers expect to complete construction in late 2023. Development costs were estimated at $14 million.