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Developer says no market-rate apartments planned for 106-unit Passaic project
A planned 106-unit apartment building in Passaic would contain no market-rate apartments under the developer’s current proposal, according to testimony at an October Planning Board hearing.
The board approved the six-story development at Aspen Place on Oct. 14.
During the hearing, an attorney representing State Street Owners LLC said the project would include workforce housing for households earning up to 120% of area median income, along with apartments for low- and moderate-income households earning 80% or less.
The attorney said the exact breakdown has not been determined.
“We’re not 100% sure how that’s going to shake out, but we’re not proposing any market rate,” the attorney told the board.
The proposed building is part of a larger redevelopment of Alfred Speer Village, which also includes plans to rehabilitate existing apartments and eventually pursue additional construction.
The new building would contain 21 one-bedroom, 63 two-bedroom and 22 three-bedroom apartments.
A construction timeline has not been confirmed.


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