The historic Fairmount Hotel in Jersey City is about to get a major facelift. Affordable housing developer Brad Ingerman just secured a $17 million financing package to make it happen.
Some residents worry about having to move out temporarily during construction. Still, most folks seem to support the upgrades, which promise much-needed improvements to both the building and the apartments.
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This overhaul keeps the Fairmount as affordable senior housing for decades to come. It also fits right in with the city’s push to keep accessible living options in its diverse neighborhoods.
A Century of History Meets a Modern Upgrade
The Fairmount Hotel is a 59-unit senior affordable housing property that’s been standing in Jersey City for over a century. Ingerman’s company bought the building about thirty years ago using $2.9 million in federal funds, with a promise to keep rents affordable for 30 years.
Since then, they’ve kept the property safe and accessible for elderly tenants. That’s no small feat for a building this old.
The Financing Behind the Facelift
The Fairmount has seen a lot of wear and tear after all these years. Ingerman pulled together $8.85 million from the New Jersey Housing and Mortgage Finance Agency and another $8.2 million from tax credit sales.
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That’s over $17 million in total, with about $10.5 million going straight into renovations. It’s a serious investment to bring the place back to life.
What the Renovations Include
The upgrade covers everything from structural work to the apartment interiors. The building’s age means these fixes are about more than just looks—modernizing the space while keeping its original charm isn’t easy, but that’s the plan.
Planned Improvements for the Fairmount
The renovation plan features:
- Exterior upgrades: New roof, windows, doors, and brickwork restoration.
- Infrastructure updates: Elevator replacements and improved building systems.
- Interior enhancements: New appliances, cabinets, countertops, and fixtures in every apartment.
- Energy efficiency: Updated HVAC systems and electrical work for greater comfort and lower costs.
Temporary Relocation – A Necessary Step
During construction, some residents will have to move out for a bit. Options include moving into empty units within the Fairmount, staying with family, or using off-site housing.
Ingerman says they’ll put residents’ needs first and try to keep things as smooth as possible. Nobody loves moving, but it sounds like the team wants to make it bearable.
Why This Matters for Jersey City
This isn’t just about fixing up a building—it’s about protecting affordable housing in a city where rents keep climbing. The Fairmount sits in one of Jersey City’s distinctive city districts, and keeping it as a home for seniors helps maintain the community’s inclusive vibe.
Exploring Jersey City Beyond the Fairmount
If you’re wondering where to stay in Jersey City, the city’s got a mix of modern high-rises and historic spots. The Fairmount itself is just for affordable senior housing, but plenty of Jersey City hotels put you close to attractions, restaurants, and nightlife.
You might want to wander through the historic downtown. Or maybe you’d rather stroll along the waterfront. There’s definitely no shortage of things to do in Jersey City.
Getting here isn’t a hassle, either. With PATH trains, ferries, and easy highway access, you can reach Jersey City without much fuss.
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Here is the source article for this story: Letter: Our Renovation of the Fairmount Hotel is a Win-Win
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