
By BRIAN DONOHUE
As Red Bank faces a new state mandate to build 154 new units of affordable housing, officials are looking at a long-planned redevelopment or renovation of two aging publicly-subsidized complexes as a possible part of the solution.

The state announced new calculations on Oct. 18 calling for the creation of 146,000 units of affordable housing statewide. Red Bank’s “present need” –the number of older units needing rehab – was set at 54 units. The town’s ten year “prospective need” of required new units was set at 154.
The calculations released by the state Department of Community Affairs were mandated by a law Gov. Phil Murphy signed in March.
Unlike some towns that have sued to avoid or reduce their obligations, Mayor Billy Portman said he’d like to see the borough meet the desperate need reflected in the state’s quotas.
In an interview with redbankgreen last week, Portman said he hopes Red Bank can be “one of the only municipalities in the state to meet our requirement. Because nobody’s meeting them.”
“Here in Red Bank we are (asking), how do we facilitate this?” Portman said.
That could be partly achieved by the already-in-place practice of requiring developers to build a percentage of affordable units as part of any new projects.
For example, affordable components are expected to be a part of several large projects in the pipeline, including the former Visiting Nurses Association site on Riverside Avenue and a planned redevelopment of the area around the NJ Transit rail station.
But another key could be the long-discussed redevelopment of the publicly subsidized Montgomery Terrace and Evergreen Terrace complexes.
The Red Bank Housing Authority, which manages the two complexes, recently completed two reports outlining options for redevelopment that range from renovating existing buildings to building new ones.
Appearing before the Borough Council Thursday to present an update on a $350,000 borough grant for the project, RBHA Executive Director Lisa Hendricks Richardson (pictured right) said no decision has been made as to which option the agency will pursue.
“The physical needs assessment took a look at the conditions of the property and provided cost estimates for anywhere from renovation to possible construction – new construction,” Richardson told the council.
Richardson said the RBHA redevelopment committee, consisting of three RBHA board members, will review the options over the next several months.
“We can’t go into the details at this time,” Richardson told the council. “They’re options and haven’t been explored by the full board of the housing authority. “
Portman, however, was clear that he’d like to see additional units added as part of any upgrades.
“I’m hopeful that we’re doing some new building on those properties because I think they’re a little under-utilized,” he told Richardson at the meeting. “And my concern is if we’re relying just on developers who have to do whatever their percentage is based on the project, we’re never going to meet our requirements. And I think we haven opportunity here to really increase our housing inventory.”
In response to Portman’s comments, Richardson replied, “that’s the vision of the housing authority as well.”
The 40-unit Montgomery Terrace, on Tilton Avenue, opened in August, 1960, according to coverage in the now-defunct Red Bank Register. The 50-apartment Evergreen Terrace senior housing component, on Leighton Avenue, opened about a decade later. The need for upgrades has been discussed for years.
“The housing authority wants to upgrade our housing to the quality and standards our residents deserve,’’ Richardson said at the council meeting, adding The US Department of Housing and Urban Development will provide funding for 90 units.
Adding more units would seemingly require various agencies to find additional funding sources.
“We are exploring opportunities to build more affordable housing,” Richardson said. “That is the vision. “
Besides redeveloping the properties, Richardson said the RBHA is planning to convert the rent subsidized complexes to HUD’s voucher-based system. Those changes – as well as renovations or redevelopment of the complexes – have been discussed as far back as 2020. Officials have in the past touted the change as a way to bolster capital reserves for maintenance and renovations.
“HUD has been moving toward that across the country and we believe we are in a position to convert,’ she said. “It’s a great opportunity.”
Richardson said news of the change was discussed in pair of recent meetings with residents in an effort to make sure they take an active role in the process.
Council member Ben Forest pressed Richardson for assurance that no current residents would lose housing as a result of the changes.
“People are scared about what happens going forward,” he said. “No one will lose housing in the changes. Everybody’s housing is going to be maintained?”
To that, Richardson replied, “Correct.”
redbankgreen editor Brian Donohue may be reached via email at [email protected] or by calling or texting 848-331-8331 or yelling his name loudly as he walks by. Do you value the news coverage provided by redbankgreen? Please become a financial supporter if you haven’t already. Click here to set your own level of monthly or annual contribution.

