Council Clears $1.5M For Affordable Senior Housing Property

The Fair Lawn Council approved last week the release of $1.5 million from the borough's Affordable Housing Trust Fund to go toward the purchase of the Hadco/KEM property for a senior housing project.

The $1.5 million was paid to the fund by the developers of the soon-to-open Fair Lawn Promenade on Route 208 as part of an agreement which cleared them from having to include affordable housing units in the development.

The remaining $200,000 of the $1.7 million purchase price will come from the nonprofit partnership which will lease the property from the borough and operate the facility. 

The partnership will still need to secure their funding and get final approval from borough land use officials before work can get underway, according to Mayor John Cosgrove.