Lakewood, NJ – A judge approved the expedited transfer of about half a nearly $6 million affordable housing deal between Toms River and Lakewood, leaving the remaining $2.6 million to go through a more thorough application process.
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The $3.2 million will go toward a 72-unit complex in Lakewood currently under construction.
The decision by state Superior Court Judge Vincent J. Grasso was made to give a financially at-risk developer assurance that it could afford to sell half the units at low-income rates.
A lottery for the units is tentatively scheduled for Friday.
Attorneys opposing the transfer are considering an appeal. [APP]
maybe this will help the Yeshiva of Toms River get the credit it deserves
This is great news for the yeshiva world of lakewood. Why are you the only blog reporting this? I find that any time I want the news regarding the “yeshiva world”, the only reliable place is VIN. keep it up!