Rosie Sells home to a developer for affordable housing

Rosie O’Donnell provided a parting gift to the neighbors of Saddle River by selling her home to a developer, which will then, in turn, convert the property into affordable housing.
As part of a fair housing settlement between the borough of Saddle River and the Fair Share Housing Center of NJ, the 5-acre lot that Rosie’s property is located on is now going to be converted in 60 units, 20% which will be used for affordable housing.

Rosie had a hard time selling the home and its been sale for several years with asking prices around the $6 million mark. Rosie decided to give in and sell to Saddle River Investors LLC, who are an intervener in the ongoing fair housing battle with the Fair Share Housing Center, a non-for-profit empowered by the state to enforce municipals to offer affordable housing, and the town of Saddle River.

Rosie’s property is next door to the award-winning Wandell elementary school and the cost of building these units will dramatically alter the budgets, taxes, costs, and capabilities of the town. Rosie seems not to care since she has left the town years ago to one of her numerous other properties, not realizing her sale to the Saddle River Investors LLC would bring such uncertainly and angst with her previous neighbors.

Stay tuned to Saddle River News to hear more news about the affordable housing issue in Saddle River.