Residents of Lakewood can expect big changes to the city’s housing stock soon.
On July 2, the city’s planning commission approved a proposal for two four-story mixed-use developments on Detroit Avenue and Bunts Road. Proposed by Jerome Solove Development, the building will have 120 apartments, at least 20% of which will be low-income housing for residents.
The project is called The View East and will also feature about 4,250 square feet of commercial space on the first floor, according to acting Planning Commission Secretary Michelle Nochta.
Affordable housing is a growing issue in Lakewood, which has experienced a skyrocketing housing market in the past four years. The higher house prices are accompanied by rising rents. There are some 51,724 Lakewood residents. About 7,340, or 14.6%, live below the poverty line, or the minimum amount of income needed to secure necessities. The national average is 13.1%, according to Data USA, an organization that tracks issues concerning jobs, education and housing in the United States.
Six apartment complexes offer Section 8-approved housing in Lakewood. They provide 726 available units for low-income families. The developer believes the project will provide cheaper housing options and help solve issues that other apartment complexes are having due to demand.
“By offering a new supply of housing, we will be able to alleviate some of the pressure from other apartment complexes in the area that may not be able to handle the demand for housing in the area,” said developer Alex Solove.
The next step is a review by the Architectural Design Review Board. Residents will be able to see the scale of the project and what materials will be used. It’s unclear when construction would begin. Solove and his team are finalizing designs to present to the board.
This is the second development by Jerome Solove Development that the city has approved. In March, a mixed-use project at the former site of Steve Barry Buick on Detroit Avenue received final approval. It will feature 160 apartment units and also offer affordable housing. However, plans are on hold, due to the pandemic.
“We all would like to see new development at sites that have been underutilized for so long,” Nochta said. “The developers still have a long process to go through, but we’re confident that this is a project that everyone can be proud of.”
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