News Flash

Township of Hanover News

Posted on: January 30, 2023

“26 Parsippany Road” Development in Hanover NJ Affordable Rentals - Now Accepting Applications!

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The Silverman Group with their Administrative Agent “Rehabco Inc.”, is now accepting applications for their soon-to-be-completed housing development located at 26 Parsippany Road, Hanover NJ.  Three (3) buildings at the development will have twenty (20) affordable housing units with one-, two- and three-bedroom units.   

The one-, two- and three-bedroom affordable rentals range will be from $648 to $1,497 depending on family size and income classification. Monthly rent is based on the AHPNJ income limits for the program year 2022. It is required that 13% of the units be available to very low-income applicants and 50% of the units be available to low-income and very low- applicants.

Families applying for the affordable units must be income eligible as follows:

 

Maximum Income Eligibility Criteria (AHPNJ 2022 Income Limits) - Asset Restrictions May Also Apply

Household Size

Very Low

Low

Moderate

1 Person

$ 24,190

$ 40,317

$ 64,507

2 Person

$ 27,646

$ 46,077

$ 73,723

3 Person

$ 31,102

$ 51,836

$ 82,938

4 Person

$ 34,558

$ 57,596

$ 92,154

5 Person

$ 37,322

$ 62,204

$ 99,526

6 Person

$ 40,087

$ 66,811

$ 106,898

7 Person

$ 42,851

$ 71,419

$ 114,270

8+ Person

$ 45,616

$ 76,027

$ 121,643

 

The Regional Asset Limit for Morris County is $220,995

  

Applications will be available until March 31st and can be downloaded from Rehabco’s website at www.rehabconj.com  If you are in need of assistance with the application process, please call 732 477.7750 or email Rehabco directly. 

Additional Info...
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