National Church Residences announces the acquisition of Chambers Bridge Residence, a 184-unit, low-income housing tax credit property for seniors, located at 175 Chambers Bridgeroad, Brick Township, New Jersey.
National Church Residences has managed Chambers Bridge Residence since 2000. The community was built in 1998 by Homes Now, Inc., a not-for-profit corporation that provides affordable housing and services to communities throughout the state of New Jersey. The acquisition includes acquiring both the building from Homes Now, along with the acquisition of the underlying land from Brick Township. In addition, Chambers Bridge also has a workout facility, on-site laundry, a library and a service coordinator.
“We are honored and privileged to continue the great work Homes Now has done for many years and we will strive to continue to serve the seniors of Brick Township with dignity and respect,” said Matt Rule, Senior Vice President of Development and Construction at National Church Residences. “With more than 10,000 seniors turning 65 every day, it’s important that we continue to provide safe and affordable places for them to live.”
National Church Residences plans to make improvements to the property including the parking lot, some unit updates and common area upgrades. These upgrades will enhance the property and make it safer for the seniors who live in the community.
This acquisition adds another 184 units of affordable housing to our New Jersey portfolio. Altogether, National Church Residences has 952 units of senior housing across 11 communities in the State of New Jersey.
About National Church Residences
National Church Residences serves more than 42,000 seniors through its array of housing and health care services. The not-for-profit organization is driven by a vision of advancing better living for all seniors, enabling them to remain home for life. With 340 communities in 25 states and Puerto Rico, it is the nation’s largest not-for-profit provider of affordable senior housing and the largest manager of service coordinators. It also offers residential senior communities, home and community-based services, as well as permanent supportive housing for the formerly homeless and disabled. For more information, visit www.nationalchurchresidences.org.