About Us

CARA SQUARED

is one the top affordable housing developers in our region,

along with our prior company JP Affordable Housing.

In Jersey City alone we are responsible for 16 affordable housing projects.

Fifteen of those projects have come into fruition thanks to our collaboration with the

Jersey City Redevelopment Agency (JCRA) and various other, municipal, state, and federal agencies.

 

We thrive on the ability to make a difference in our municipality through hard work, diligence and teamwork.  As experts in this field we have built a sum of more than 1,200 units of affordable housing. Our spectrum of accomplishments range from new construction to rehabilitated structures. Furthermore, we have created thousands of jobs through our projects in the region. Municipalities have also benefited by having premises back on federal and city tax rolls.

Experience

We are the Creative Team who brought you the following apartment complexes:

 

  • OCEAN GREEN

  • THE TOY FACTORY

  • FRED W. MARTIN

  • FOREST SENIORS

  • HOMES 271

  • 269 SECOND AVE. WEST

  • 525-529 NORTH 5TH STREET

  • CYAN CONDOS

  • MAYA CONDOS

  • 306 BERGEN AVENUE

 

We have experience working from the ground up to working with modular units as evident in one of our latest projects, Ocean Green Senior Apartments located at 744 Ocean Ave. Jersey City, NJ 07305.

 

We also excel at the marketing, sales and rentals of our apartments and homes.

These are just a few of the services we provide:

 

  • Conduct Real Estate Property Closings

  • Assign a Project Manager to oversee Construction Rehabilitation

  • Work with First Time Home Buyer and/ Lenders

  • Help to Expedite the Mortgage Process

  • Screen tenants for verification and mortgage eligibility

  • Assist Homebuyers to become credit worthy

  • Market the units for sale

Meet The Team

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Eugene 

Eugene P. O’Connell’s

practice since 1973 has been primarily real estate development, both residential and commercial properties, as well as municipal law, including tax abatement and zoning. As president of CARA  since 2010, he has recently completed Ocean Green Senior Apartments, a 44 unit building housing senior citizens and clients with special needs. As president of JP Affordable Housing since 1989, he has developed over 1,200 units of affordable housing for purchase and rental through out the State of New Jersey. A graduate of Saint Peter’s College and Seton Hall University School of Law, in his early years as Counsel  Mr. O’Connell served as Law Director for the City of Hoboken, Assistant Corporate Counsel for the City of Jersey City, as well as Assistant Prosecutor, Chief Grand Jury Section, Chief Municipal Court Section, and Trial Attorney for the County of Hudson.

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Max

Max Benjamin

has been directly involved in all aspects of development for over 1,200 housing units for disadvantaged families, Seniors and Special Needs populations; as well as the acquisition and implementation of over $100 million of public and private financing for 38 development projects. Worked collaboratively with non-profit service providers and State and local government to successfully develop community-integrated Supportive Housing. Has experience in preparation and review of development budgets and operating pro forma projections; with national and regional bank underwriting and due diligence requirements; with financial leverage sources including: H.U.D. CDBG, HOME  and NSP; I.R.S. Sec. 42 Low Income Housing Tax Credit Program (LIHTC) and tax-exempt bond financing; U.S. Treasury Sec. 1602 & Sec. 1603, ARRA 2009; State, local and foundation resources.

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Richard

Richard Greenspan

is an accomplished construction professional with extensive experience in the execution of real estate development projects and a distinguished track record of delivering projects on schedule and within budget constraints. He is an experienced leader with excellent relationship building and strong conflict-resolution skills. Recent projects include Comunilife’s El Rio - Sixty Five unit multifamily affordable & supportive housing project in the West Farms section of the Bronx, Ocean Green Senior Apartments – Five-story, 44-unit senior residential building, Low Income Housing Tax Credit project, Jersey City NJ.