State award advances Alexander project

Officials with the Orange Housing Authority said they believe an award of tax credits from a state agency will help them find investors to assist in redevelopment project to create new housing on the site of a former apartment complex.
During its September board meeting, the state Housing and Mortgage Finance Agency awarded the authority tax credits and financing which will total $23.3 million for family and senior housing planned for the site of the former Walter G. Alexander Apartment. Lori Ryan, a spokeswoman for the Department of Community Affairs, of which the agency is a part, said the total covers a 10-year period.
The Alexander apartments, a two-building complex, is in the midst of demolition. The authority, through its redevelopment agency, the Orange Housing Development Corp, intends to construct 114 non-apartment residential units on the site and surrounding lots.
Walter McNeill, the authority’s executive director, said last week the tax credits will enable the authority to seek funding from outside sources.
“Now we have to get an investor — that is the person who will give us the money and get the tax credits,” said McNeill. He added the investor could receive the credit as a direct write-off on its taxes.
For McNeill, the project will benefit the Parrow Street area. The Alexander complex was known as an area where police made numerous arrests for drug sales and weapons-based violence.
“We were supposed to provide a safe haven — that was not happening,” said McNeill.
The layout of the new development, with smaller common areas which will visible to residents surrounding them, said McNeill, should improve the safety of the neighborhood.

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