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Towns question benefit of allowing developers to drop age restrictions
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Local officials in towns with the most senior housing say they are opposed to a new state law that makes it easier for developers to open unbuilt age-restricted developments to all people, raising questions about the law's future effectiveness.
The legislation that Gov. Jon S. Corzine signed Thursday afternoon requires any age-restricted projects seeking conversion to have already received final approval before the enactment of the new law, and they must not have taken deposits or sold any units.
Builders have to prove the converted development would have adequate parking, water and sewer supply and that recreation improvements have been upgraded, if necessary.
The law initially capped the number of converted homes that could be sold as affordable housing to people with low- and moderate-incomes at 20 percent, but a conditional veto by Corzine earlier in June eliminated the cap.
The veto also led lawmakers to loosen restrictions for developers who appeal, as well as making it easier for planning boards to approve the conversions.
The bill comes as the housing market remains in a funk and retirees continue to leave the Garden State for lower-cost states.
As a result, the Otteau Valuation Group estimated New Jersey has a 16-year supply of age-restricted housing. This comes even as the MetLife Mature Market Institute and the National Association of Homeowners said in April the percentage of households with people older than 55 in age-restricted developments ticked up from 2 percent in 2001 to 3 percent in 2007. Those homeowners report high levels of satisfaction.
Local officials said they oppose converting age-restricted plans.
Southern Ocean County is home to thousands of age-restricted homes in at least 16 developments, many built in recent years.
In Barnegat Township, officials planned school expansion and utility growth around the idea of eventually housing 33,000 people in the township, Mayor Jeffrey Melchiondo said. Five age-restricted developments exist in town with another 1,000 units in one partially built and two unbuilt projects on the books.
City planners had this in mind as they planned utilities, Melchiondo said, while voters approved the most recent school improvements with the same mind set.
Melchiondo said he hopes the unbuilt projects remain age-restricted. "That's why this bill is bad," he said. "It's bad for the community that made these decisions."
Several miles away in Little Egg Harbor Township, home to another five age-restricted developments, Committeeman Eugene M. Kobryn said the law is tantamount to the state eliminating age-restricted developments altogether. Even though it does not affect built projects, he said, "It's a total violation of the rights of the individual who says they want to live in a community like this."
In Atlantic County, Hamilton Township is home to three age-restricted developments.
Committeeman Charles Pritchard said he was uncertain how this would play out but suggested the change would be minimal. He suspected fewer people would be retiring to the area to be close to the casinos, especially with the ongoing recession.
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Posted in NEW JERSEY on Saturday, July 4, 2009 3:05 am
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