“26 Parsippany Road” Development in Hanover NJ
Affordable Rentals: 20 Units - 1, 2 and 3 bedroom units.
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 in Hanover Township (Whippany) NJ. To locate the development, one would take I-287 North to Exit 39 which turns onto NJ Route 10 East, which then becomes Parsippany Road. Three (3) buildings at the development will have twenty (20) affordable housing units with one-, two- and three-bedroom units. Units range in size between 500 and 1200 square feet.
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:
2022 Maximum Household 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.