The Michaels Organization is pursuing another major affordable housing development in Voorhees following strong demand for its recently completed project.
The Camden-based developer plans to build 120 apartments at 600 and 602 Centennial Boulevard.
The $50 million project, known as The Oaks at Centennial, would rise on approximately 6.6 acres.
Currently, the property contains the vacant L&L Redi Mix concrete facility. Therefore, the project would transform an inactive industrial site into new housing.
Centennial Housing Associates LLC, an affiliate of Michaels, will seek Planning Board approval on September 9.
Plans call for developing the 120 affordable apartments in two phases. The project is also included within Voorhees’ affordable housing obligations.
Notably, Michaels has already experienced significant demand for affordable housing elsewhere in the township.
In April, the developer opened Victory Commons at 1223 Haddonfield-Berlin Road. The $30 million development includes 81 affordable apartments.
Since opening, hundreds of prospective tenants have joined the waiting list for available units.
As a result, Michaels expects similar demand when The Oaks at Centennial begins leasing.
The company is also advancing another affordable housing project along Sheppard Road. That $23 million development would add 60 apartments.
Once completed, the three Michaels developments would provide 261 affordable housing units across Voorhees.
Furthermore, many residents at Victory Commons work within the surrounding community. Tenants include employees in healthcare, education, retail, and other essential industries.
The projects come as housing availability remains a major concern throughout New Jersey. Consequently, municipalities and developers continue pursuing projects that expand housing options.
For Voorhees, The Oaks at Centennial would also bring new life to a vacant commercial property. In turn, the redevelopment could help address housing demand while repositioning an underutilized site.
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