A developer has proposed building 16 affordable for-sale condominiums on Bayonne’s Broadway corridor, aimed at helping local working families buy homes.
Cara Squared LLC announced plans for the development at 793-795 Broadway. The one- and two-bedroom units would be priced between $57,000 and $241,000 and reserved for households earning 30% to 80% of the area median income, the income range the state and federal governments use to define affordable housing.
Unlike affordable rentals, the project is for-sale, which the developer said is meant to help lower- and moderate-income families build equity and move from rising rents into homeownership…