Waiting list, lottery set for affordable units in Wayne
By: Philip DeVencentis
NorthJersey.com
USA Today Network - New Jersey
WAYNE - Apartments at a housing complex on Valley Road are renting for as low as $511 per month, but interested lessees must meter a lottery for a chance to live in the new dwellings.
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Seventy-one affordable units are available at the housing complex, which is under construction by Virginia-based AvalonBay Communities Incorporated. The project has 473 apartments and town houses at the 17-acre site of the former Valley National Bank headquarters, at 1445 Vally Road and 1455 Valley Road.
..... There are seven two-bedroom apartments leasing for $11. Some affordable units are as much as $1,570 per month. Market-rate units listed by the developer state at $2,380 per month for studios and go up to 44,805 per month, or more, for three-bedroom town houses.
..... Those figures do not include the cost for utilities.
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The real estate listings were published by Affordable Homes New Jersey, a service of Community Center, Planning & Housing of Cranbury.
..... The agency manages waiting lists for affordable opportunities throughout the state, including 12 residential developments in Passaic County.
..... Renters of affordable units at the AvalonBay Communities project have to meet income criteria, depending on household size. annual limits vary between $26,730 and $134,400.
..... Pets are allowed at the housing complex, but fees and restrictions apply. Amenities include central air conditioning, a dishwasher, and a washing machine and dryer. The smoke-free property as a dog run, gym, lounge, swimming pool and work-from-home pods.
..... The AvalonBay communities project was approved through a court-sanctioned deal after years of negotiations between the developer and the township.
..... To apply for an affordable unit, visit the Affordable Homes New Jersey website at affordablehomesnewjersey.com before July 30. [2025] Names are put on a waiting list and drawn in a lottery.