Posted on 02/18/2020 8:24:18 AM PST by simpson96
SADDLE RIVER, NJ – As part of a fair housing settlement with Saddle River, a 5-acre estate once owned by Rosie O'Donnell will be redeveloped into affordable units.
An agreement was reached Monday that calls for the development of 139 housing units to help satisfy Saddle River's obligation to provide housing for low-income people and individuals with disabilities, according to a press release from the Fair Share Housing Center.
Under the settlement, O'Donnell's former home on East Allendale Road, along with two adjacent lots, will be converted into eight affordable homes, the release said. The one-time home of the comedian and TV personality is still actively listed on Realtor.com for $5.9 million. It has been on-and-off the market since November 2015, when it was first listed for just under $7 million.
Borough officials also agreed "to strict timelines for construction of affordable units to ensure that working families will be able to move into the borough in the next few years," the Cherry Hill-based housing rights advocacy group said.
"This landmark settlement agreement will give working families, particularly people of color, the chance to move into one of America's wealthiest towns,"
(Excerpt) Read more at patch.com ...
By the time they buy the three properties, it’s easily $8 million. For 8 “affordable” houses. Nothing more than a redistribution scheme.
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