What Haddon Heights is doing to support housing for older residents

Joseph P. Smith, Cherry Hill Courier-Post
·2 min read
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HADDON HEIGHTS — Borough officials have signed off on a property tax arrangement designed to keep apartment rents at Stanfill Towers within reach of older people with low to very low incomes.

The Borough Council recently voted unanimously to renew a payment in lieu-of-taxes agreement with the owner of the apartment building. The PILOT agreement runs for 20 years, starting this year and going through 2042.

The U.S. Department of Housing and Urban Development has subsidized rents at Stanfill Towers since it was built in the mid-1970s at 117 East Atlantic Ave. It has 123 apartments, and renters are limited to people 62 years old and older.

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The borough was concerned that the building would switch to charging higher rents based on market rates, if it lost its tax discount. Haddon Heights has agreed to a discounted property tax since the project started for that reason, according to the ordinance.

The new agreement increases by 3 percent each year the annual payment Haddon Heights Senior Citizen Housing Corp. owes in place of regular property taxes. The business will pay $90,000 this year, maxing out at $157,816 in 20 years.

Stanfill Towers at 117 E. Atlantic Avenue in the Borough of Haddon Heights, Camden County is an affordable apartment complex for senior citizens. The building has 123 rental units and was built around 1975. PHOTO: Oct. 3, 2023.
Stanfill Towers at 117 E. Atlantic Avenue in the Borough of Haddon Heights, Camden County is an affordable apartment complex for senior citizens. The building has 123 rental units and was built around 1975. PHOTO: Oct. 3, 2023.

Borough Clerk Kelly Santosusso said the payment for Stanfill Towers was $35,000 last year under the previous 20-year agreement. The borough offers few PILOT agreements and Stanfill Towers is its largest one, she said.

According to property records, the Stanfill Towers property has a property tax valuation of $11,334,800. The property is under management of a Haddonfield company, PRD Management.

“We are pleased with the approval of the PILOT, as it will continue to provide an affordable option at Stanfill Towers for seniors to remain in Haddon Heights,” PDR Management representative Michael P. Turner said on Wednesday.

The Haddon Heights Borough Council on Tuesday night adopted a 20-year, payment-in-lieu-of-taxes agreement with the owner of Stanfill Towers, a 123-unit senior citizens apartment building at 117 E. Atlantic Avenue. The vote was unanimous. The PILOT agreement is intended to preserve the availability of affordable senior housing. PHOTO: Oct. 3, 2023.
The Haddon Heights Borough Council on Tuesday night adopted a 20-year, payment-in-lieu-of-taxes agreement with the owner of Stanfill Towers, a 123-unit senior citizens apartment building at 117 E. Atlantic Avenue. The vote was unanimous. The PILOT agreement is intended to preserve the availability of affordable senior housing. PHOTO: Oct. 3, 2023.

There were no comments from council members or the mayor prior to the vote, and no comment from audience members.

Joe Smith is a N.E. Philly native transplanted to South Jersey 36 years ago, keeping an eye now on government in South Jersey. He is a former editor and current senior staff writer for The Daily Journal in Vineland, Courier-Post in Cherry Hill, and the Burlington County Times.

Have a tip? Reach out at jsmith@thedailyjournal.com. Support local journalism with a subscription.

This article originally appeared on Cherry Hill Courier-Post: Housing affordability drives agreement on Stanfill Towers