First Phase of Terrell Homes Redevelopment Awarded $8.9 million in NJEDA Aspire Tax Credits
Phase I, for which Thriven Design provided architecture, engineering, energy consulting, and planning services, will consist of 69 residential units for seniors, with 28 on-site parking spaces. Chapel Street Aspire LLC (CSA), a 501(c)3 nonprofit, is a co-applicant of the project and will offer on-site services for residents including health and wellness screenings, social engagement activities, and shuttle service for shopping.
The project is part of the multi-phased redevelopment of the Millard E. Terrell Homes public housing site and aims to support the ongoing revitalization of the city’s Ironbound neighborhood. The site is owned by the Newark Housing Authority, which has entered a ground lease with Terrell Redevelopment Partners Urban Renewal, LP.
“The Terrell Homes project represents our highest aspiration to provide comfort and security to the elders of our community,” said Newark Mayor Ras J. Baraka. “By incorporating the anticipated health, social, and transportation needs of our seniors, this initiative is not just comprehensive and forward-thinking. […] It is steeped in respect and compassion for our parents and grandparents who have raised up all of Newark through their perseverance, sacrifice, energy, and faith. Our city extends its heartfelt gratitude to NJEDA for this wonderful opportunity for our seniors.”