Barrington Mews, a 30-year-old, 284-unit affordable-apartment complex in Camden County, will be converted to market-rate under new ownership.
Nearly 300 elderly, disabled, and veteran tenants surprised by sale of their Camden County apartment complex
To be eligible to live there, residents must meet income and age restrictions. Most are elderly, people with disabilities, or both; at least 10 are veterans. The complex is owned by the American Affordable Housing Group and overseen byBrodowski was among about 50 Barrington Mews tenants who pleaded for help Tuesday during an emotional meeting of the borough council.
Dale Keith, chief financial officer at SCUCS, said: “Elderly or disabled people may not be tech savvy and may need help finding the housing opportunities that are out there. Linda is helping us work as a liaison between people in need of housing and people who have housing.” Many of the 30-year mortgages on these properties are being paid off, sunsetting the affordability requirements — and allowing owners to sell in the currently robust market for multifamily housing.
“It’s disheartening to lose them,” said Walter, adding that mortgages on about 11,000 affordable units statewide will have been paid off during the 2020s. Preserving those units as affordable would be far cheaper than having to replace them, she said.
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