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New Siena Construction Will Be Rental Units

One township committeeman is worried the renters will outweigh the buyers.

 

Late last year, J.S. Hovnanian—the group behind Siena, the 55 and over housing community off Route 130—decided to start leasing condominiums in addition to selling them to keep pace with the ever-changing real estate market.

Six months later, the group has teamed up with a real estate company to erect more buildings that will be available for lease.

However, one township committeeman doesn’t think the public will be happy with the transition.

“I’m really concerned about the general attitude of the public that Cinnaminson has always been a bedroom community,” Committeeman Ben Young said.

However, Young voted along with the other members of township committee (minus Mayor Don Brauckmann who was absent) for Hovnanian to move forward with the project under the auspice the group would visit the planning board next.

Peter Hovnanian and Eric Woodmont, of Woodmont Properties, a regional real estate company, brought their idea to township committee last week for approval. Since there are some changes to the original agreement, officials will have to get planning board approval as well.

Hovnanian said he understands Young’s concerns, but nothing is changing in the fact that age-restricted condominiums are still going to be offered—just some can be leased and some can be bought outright.

“We have found in today’s market that there is a segment that is interested in leasing rather than buying,” Hovnanian said. “We have not changed the character or intent of the community. What we have now done is to adjust to what the market has told us is a great opportunity.”

Hovnanian said the new lease-to-buy option is “a positive thing for the community” and already, 17 homes have been leased in the past four months.

“In three years, we haven’t been able to sell twice that much,” Hovnanian said.

Currently, the south side of Siena is occupied. North of Siena Boulevard is where Hovnanian said the “footprint modification” will be. The new condos will be slightly smaller units fit for renting. The number of units has not changed from the original layout; the group still anticipates 204 condominiums spread out over 12 buildings.

Young is concerned about the current owners at Siena but Hovnanian said he and Woodmont met with homeowners and they responded positively.

“I’m surprised the current owners were enthusiastic,” Young said.

Deputy Mayor Anthony Minniti, who serves as the director of economic development, said the new push to lease-to-buy is “precisely the product this community needs.”

Minniti said he agrees with Young and is against cluster housing, but that’s not what this is.

“Other than what we know as it being a different ownership situation, no one would ever know it’s a rental community,” Minniti said. “These are not apartments. These are not cluster housing. It’s still the exact same product.”

The reason Hovnanian must go before the township for approval is because Siena is part of Cinnaminson redevelopment zone.

Related Topics: Anthony Minniti, Ben Young, J.S. Hovnanian, Redevelopment, Siena, Woodmont Properties, and peter Hovnanian

JustALocalGuy

11:51 am on Wednesday, July 25, 2012

Oh noes! The renters will ruin *everything* in our perfect little community!

Get over it, bigots. Just because someone doesn't want to buy a piece of property doesn't mean you are better than them.

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Buttercup

11:51 am on Wednesday, July 25, 2012

hopefully we all will be pleasantly surprised with this plan, because a rental property (usually) becomes an eyesore
i only say this because there are several rental homes in the area and we all know exactly which ones they are
i guess time will tell

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Jennifer

1:26 pm on Wednesday, July 25, 2012

“precisely the product this community needs.”
I really wish Minniti that you would not speak for me as "the community".
This is NOT what my community needs but as in everything else that takes place
we deal with it and smile. I do think the current state of Siena is a HUGE eye sore on 130 so I guess trying to finish building would be better than what is currently in its place. Blah Blah Blah....another day of Cinnaminson tumbling down the tubes.....wheeeeeeeee.

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Ellie A.

3:29 pm on Wednesday, July 25, 2012

Actually Jennifer, Minniti's role IS to speak for the community. He was elected to serve on the township committee. If you have an opinion about this, why haven't you gone to meetings to express it? And please don't let your answer be the oh so trite "Even with my voice, nothing changes..."

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Bull Pitt

4:01 pm on Wednesday, July 25, 2012

Actually Ellie, his role is NOT to speak for the community. His role is to do what is best for the community and take input from the community before he speaks. But the Pompadorian Prince is a legend is his own mind, and apparently can read all of ours. He knows what we need whether we think so or not. That's why many have stopped attending those useless meetings.

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Ellie A.

4:07 pm on Wednesday, July 25, 2012

Actually Bull Pitt, you're right. Mr. Miniti's role is to do what is best for the community. So you think he ignores emails and voice mails and letters and drop bys? Actually, Mr. Miniti has helped me on more than one occassion over the years. If you never contacted him or anybody else on council, then you can't say a word. Since the Patch started two years ago, I have been paying attention more and more to government. I watch every meeting and no one goes. No one talks. Except the turtle lady! So if you went two years ago and stopped, that's your problem. Your apathy disgusts me.

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Bull Pitt

4:15 pm on Wednesday, July 25, 2012

You watch every meeting? I assume that means on tv in the comfort of your own home. No reason for you to attend, apparently you must have a direct line. Well, 95% of us don't have that personal access. And since the Turtle Lady is the only one who speaks up, have you seen the way he rolls his eyes and accepts her comments. Yea, exactly.

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Ellie A.

4:27 pm on Wednesday, July 25, 2012

Yes, I watch on television because I am a nurse and I work nights twice a week. I try to be involved more and I know a heck of a lot more than the average citizen now! Reading the Patch and watching meetings helped me to make the most informed decision at the polls last November. 95 percent of you don't have what access? You can go to the meetings or watch on television, can't you?

KCinCA

2:01 pm on Wednesday, July 25, 2012

Mr. Young needs to realize that in this economic and housing environment, many people are CHOOSING to rent/lease as opposed to buy. It is difficult even for qualified buyers to acquire loans, and the prospects of appreciation are unknown, so leasing is the safe alternative. I've been a renter and owner, and have taken care of my residence equally well even when renting, so let's not generalize.

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Mark

2:35 pm on Wednesday, July 25, 2012

Buttercup, it is not always the renter’s fault that the property looks like hell. I know a renter who is not to maintain his property. It is spelled out in their lease that it is the landlord’s responsibility to maintain the property. If the landlord chooses to ignore his/her responsibilities, than it should be up to you as the neighbor to complain to the township by way of a phone call or attending a meeting so they can go after the landlord. I see Siena as being a good neighbor who will continue to maintain the property whether it be bought, leased, or rented.

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Livingincin

4:02 pm on Wednesday, July 25, 2012

While I agree that most renters are not problematic, Cinnaminson should be striving to encourage home ownership and not more rental units. People who own their own homes are prone to be less transient and take greater pride in their community. When you have a financial investment in a community you are more likely to take a greater interest in the future of the community.

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JustALocalGuy

4:09 pm on Wednesday, July 25, 2012

"Encouraging" homeownership is one of the major causes of the mortgage crisis and subsequent collapse of the economy. Not everyone is cut out to own property. Some simply don't have the resources it requires. Blanket statements about people taking pride in their community because they own a home are just ridiculous and unfounded.

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Livingincin

7:09 pm on Wednesday, July 25, 2012

To localguy: It is a proven fact that home ownership leads to greater community pride. Here is one of several articles supporting this position: http://articles.baltimoresun.com/2011-07-01/features/bs-hm-hockman-0702-20110630_1_home-ownership-strong-neighborhoods-pride Perhaps before claiming a position is "ridiculous and unfounded" you should do some research.

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JustALocalGuy

11:46 pm on Thursday, July 26, 2012

Livingincin, we could go back and forth arguing with links we paste from different sources we cherry-pick to support our arguments. So what? The fact is, everyone isn't capable of owning property, and encouraging people without the resources to do it is complete folly, and is largely responsible for our current financial problems.

Bull Pitt

4:07 pm on Wednesday, July 25, 2012

I mostly agree Mark. In buildings like Sienna, I think rentals will be fine. The property owner is responsible for everything outside the building and renters must follow codes. Some house rentals become eyesores, because there is no incentive for the renter to maintain the property, and in most cases the landlord just wants the money.

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Maynard

5:37 pm on Wednesday, July 25, 2012

I have a question. How is this going to effect the 5 year PILOT (Payment In Lieu Of Taxes) that was given as an incentive to the developer. As I remember all the new “purchaser's” of a unit in Siena were given a 5 year break on property taxes. Since the renting of theses properties is now a “commercial enterprise” is the owner (developer) required to now start paying property taxes since these units are not for sale.

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Mark C

5:55 pm on Wednesday, July 25, 2012

All in all, the lease-to-buy option should not be an issue. While Cinnaminson is mostly an owner-occupied community -- and I'd like it to stay that way -- Siena is an age-restricted community. With senior citizens only, I'm not particularly concerned about the use of leasing on an interim basis until the real estate market improves and the developer can get back to selling units. Sure beats the motels that used to be there. Wonder how much longer we have to wait until real estate recovers. It's just awful month-after-month to see our national economy in such miserable shape. After 4 long years of national suffering, can hardly wait to cast my vote this November.

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Maynard

8:07 pm on Wednesday, July 25, 2012

We are talking about Cinnaminson issues here and somehow you turn it into Obama bashing. You have seemed to forgotten the 8 years that lead up to the start of these 4. I am still waiting for the jobs to "trickle down" from the "wealthy's" tax break.

Kenya

6:03 pm on Wednesday, July 25, 2012

Very important question...what about that PILOT that was given? Wonderful job Committiee will this just be swept under the rug? Ellie A. I don't hear you singing praises on this, wonder why?

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Christina Paciolla

6:12 pm on Wednesday, July 25, 2012

I will have a follow-up story regarding the PILOT and Siena. With several officials on vacation, it's been hard to get the whole story out in one article. Stay tuned, Patchers. And remember, if you have a letter to the editor with your opinion or any questions that are for me directly, please email me at christina.paciolla@patch.com.

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Maynard

8:37 pm on Wednesday, July 25, 2012

"The reason Hovnanian must go before the township for approval is because Siena is part of Cinnaminson redevelopment zone."

"Hovnanian said the new lease-to-buy option is “a positive thing for the community” and already, 17 homes have been leased in the past four months."

17 leased and it has not been approved - something is backwards here !!!!

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Christina Paciolla

11:19 am on Thursday, July 26, 2012

Maynard, Hovnanian got approval initially back in 2011. They needed further approval since they—along with Woodmont—were continuing with more rental units. I apologize if that's not clear, but that's what happpened.

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Maynard

9:46 pm on Thursday, July 26, 2012

Christina - Why would they need further approval - seems that once you let the cat out of the bag it's hard to go back. We are just hearing about this now!!! Am looking forward to your story about how this affects the PILOT. Am not being a conspiracy theorist here but finding out about these things constantly after the fact makes one wonder. The committee slipped through the 30 year PILOT for the shopping center without the public knowing about it and tried to do the same for Siena until it became public knowledge and were called out on it by the public. I can't wait to hear their explanation for this!

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Christina Paciolla

10:29 pm on Thursday, July 26, 2012

Maynard,
They needed further approval because Woodmont was taking on the property management of the new buildings. The entire project is part of a redevelopment plan therefore they need township approval to move forward with anything significant, and planning board approval if any site plan issues change.

But just to let you know—all this is done in open public meetings. It's all on the agenda of the township meeting. When Hovnanian went to the township originally, it was during a public meeting that was advertised. Same thing with last week's meeting. I can't speak about the PILOT for the shopping center—I, nor Cinnaminson Patch, was in town at that time.

lesanda

9:42 pm on Wednesday, July 25, 2012

And Mr Minnitti says "and know one will know that it is a rental community For the past two months Billboard signage states "now ,leasing " from $1300 a month. And no one will know it's a rental community? 60,000 cars pass there daily. Who's fooling who? And the tax situation. The original agreement was a tax abatement for 5 years. Hovnanian has defaulted on ths agreement. They are now responsible for the full assessed evaluation for this property. Why hasn.t our attorney looked into this? Is it because our atty and Hovnanian attys are in bed with one another. Over a month ago I e-mailed Chistina to look into this. I did not receive a reply from her.It appears to me our committee people are not doing the job they were elected to do, but take on inane projects like making rte 130 Downtown Cinnaminson. , requiring sidewalks to be installed on rte 130 commercial properties. I can just picture a young married woman pushing her baby's coach to Friendly's for a snack when traffic is whizzing by at 50 to 60 miles an hour. Am I missing something here?

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Christina Paciolla

2:04 am on Thursday, July 26, 2012

Joseph,
If you emailed me, I must have not gotten it or deleted it by accident. I respond to each and every email and phone call I receive so if you'd like to email me again, please do so.

I've also spoken to Deputy Mayor Minniti about the PILOT and will add an update to the story. I would do it now but it's 2 a.m. and I'm pretty tired. But look for that tomorrow.

Thanks.

Christina

chris

10:26 pm on Wednesday, July 25, 2012

Wow it's the "bush did it syndrome" insert Minnitti ......Joseph Mogel might be right, its a conspiracy....someone pass the tin hats

http://media.tumblr.com/tumblr_m3q6wmzlMW1r0m7el.jpg

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Dan Reynolds

3:30 pm on Thursday, July 26, 2012

Gosh, darn 55+ people with their fast cars, loud music and wild parties. Not to mention the huge amount of drugs they use.

Seriously Folks, 55+ rental communities are filled people out from a divorce, who want out from owning a home, or sold the house due to upkeep issues and want to scale back in life.

WORST TENANTS EVER! THEY EVEN USE LOCAL SHOPPING CENTERS!!!

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Faith

4:59 pm on Thursday, July 26, 2012

Thank you Dan for your common sense and humor. My husband and I just moved to NJ and decided to rent at the beautiful Siena Condos to become familiar with the area before we decide to purchase again. Who knows, we may choose to purchase here. Most of the lovely people I have met here have sold their homes to downsize. I have yet to see the police breaking up raucous parties or making drug busts. Now we may be yelling because we can't hear, we are after all 55+. We have no kids to support, so we can support the local businesses. What could be better, quiet older people who support their local community. I can understand the concern with more rental properties, but the housing market changed and this was probably the best alternative. Otherwise, the land could've become an unkept eyesore. Cinnaminson is a very nice town and you should all be commended for wanting to keep it that way.

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John L

8:56 pm on Thursday, July 26, 2012

What happens if they can't lease all the units...what happens next? I don't see them having much luck renting or selling, do they have a back up plan?

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TAFN

2:09 pm on Thursday, August 9, 2012

Committeeman Ben Young was right on the money and should go with his gut instinct on the "Proposed Leasing Situation." As a resident of Siena, I can tell you that NOT everyone is in favor of this plan and some are quite upset about the proposed changes! We DO NOT have anything against renters, and I myself have rented and taken great care of the property. However we bought our condos; and now to change the Master Plan after we have made our purchase is just wrong. Also, what is unnerving is that Hovnanian is picking up the renters HOA fees. SO, while my husband and I pay $255. a month in fees, the renters are not. How does this seem fair? Not to mention that we are paying our fees to a company that is not very responsive and our overall landscaping and appearance looks terrible. Now, as they start the next building, it looks even worse! The dirt and debis left from the construction site is quite an eyesore. I understand that construction makes a mess, but why can't a truck come down at the end of the day and clean up? I have lived in 2 other communites that where not fully built and when construction took place, a water truck came down the street & cleaned and the trash was removed. This was paid by the BUILDERS, and it was so that the current residents could still live in a clean community. THE dirt and debris left over is on our patios, windows, and the nails and sharp objects are tearing up our tires. LOVELY! Very disappointed in the situation.

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