SADDLE BROOK, NJ — SB One Bancorp, the holding company for SB One Bank, announced its partnership in the development of the Saddle Brook Senior Housing which was just recently completed by the Housing Development Corporation (HDC), the non-profit arm of the Housing Authority of Bergen County.
SB One Bank provided $4.95M in financing for the two-story senior citizen low-rise apartment building which is located at 29 Caldwell Ave. Additional project funding was provided by the New Jersey Housing and Mortgage Finance Agency (HMFA), Federal Home Loan Bank, the Township of Saddle Brook and the HDC.
“We are honored to be a part of this project as it rings true to our commitment to giving back to the communities that we serve,” said Anthony DeSenzo, executive vice president & head of commercial banking at SB One Bank. “Affordable housing is a commodity in Bergen County, and we are confident that the new development is not only necessary but will make a considerable difference in the lives of local residents.”