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Partnership Begins Construction on $26M Affordable Housing Project in Paterson, New Jersey

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The redevelopment of the historic Argus Mill in Paterson, New Jersey, will deliver an affordable housing community with new program and office space for GRCRC, a long-time Paterson nonprofit that assists residents with services, meals, clothing, furniture and referrals to local service providers.

PATERSON, N.J. — A partnership between multifamily developer WinnCos and Argus Ellison Group has begun construction on a $26 million affordable housing project in the Northern New Jersey community of Paterson. The 74-unit complex will be located on the site of a historic mill that was originally built in the 1870s. About 70 percent (52) of the units will be reserved for renters earning 50 percent or less of the area median income (AMI), while the remainder will be designated for households earning 80 percent or less of AMI. Construction is scheduled for a late-2022 completion.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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