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Hoboken Breaks Ground on First 100% Affordable Senior Housing in Over 30 Years
Hoboken broke ground Thursday on The Willow, a six-story, 100 percent affordable housing development for seniors at 1033 Willow Ave., the first project of its kind built in the city in more than three decades.
The building will include 36 deed-restricted affordable units consisting of three studios, 28 one-bedroom, and five two-bedroom apartments, along with a community activity room and fifth-floor library. Construction is expected to be completed in Fall 2027.
Units will serve households aged 55 and older earning 80 percent of Area Median Income or less, with at least half reserved for households earning 50 percent of AMI or less.
The site has a significant history. A tenement building on the property was destroyed by a fire in 1973 that claimed 11 lives. The property later became a city-owned parking lot before the city’s Department of Community Development began working to convert it to affordable senior housing six years ago.
“Making sure our seniors can continue to live in Hoboken has been a priority, and The Willow shows what is possible when people come together around that goal,” said Mayor Emily B. Jabbour.
Hudson County Executive Craig Guy said the county secured $2 million for the project. “County government works best when we partner with our municipalities to deliver for our residents,” Guy said.
Congressman Rob Menendez noted the project includes federal funding. “Every senior deserves to spend their golden years in the communities they have lived in and have contributed so much to,” Menendez said.
The project is partially funded by $500,000 from Hoboken’s Affordable Housing Trust Fund, with additional financing from the New Jersey Housing and Mortgage Finance Agency, Citizens Bank, and the Hudson County HOME Investment Partnership Program.
