FAIR LAWN, N.J. — A new 55-plus community within walking distance of several Fair Lawn Orthodox synagogues has taken a major step toward construction after securing nearly $67 million in financing.

Plaza Greene, a four-story mixed-use development planned for 21-01 Fair Lawn Ave., has received a $66.85 million construction loan, according to JLL, which announced the financing Wednesday.

The project will bring 145 luxury market-rate and affordable apartments to a site less than a third of a mile from the Fair Lawn Commons minyan, about a half-mile from Congregation Anshei Lubavitch and Bris Avrohom, roughly one mile from Congregation Shomrei Torah and just over a mile from Congregation Darchei Noam.

Anchored by a more than 22,000-square-foot Sprouts Farmers Market, Plaza Greene will also include approximately 24,000 square feet of ground-floor retail and sits just steps from the Radburn train station.

The development is designed to meet growing demand from older adults looking to downsize without leaving the communities they have called home for decades.

For Fair Lawn's Orthodox Jewish community, that could mean allowing longtime residents to remain close to their synagogues, friends and neighborhood institutions while moving into more manageable housing.

Orthodox Jewish life in Fair Lawn has steadily grown over the past half-century. Congregation Shomrei Torah, the borough's first Orthodox synagogue, was founded in the late 1960s and brought Rabbi Benjamin Yudin to the community in 1969. Congregation Ahavat Achim followed in 1977, helping establish the foundation for today's vibrant Orthodox community.

The development also supports Fair Lawn's designation as an "Age-Friendly" community. Residents 65 and older now make up more than 18 percent of the borough's population.

Plaza Greene will feature amenities including a fitness studio, clubroom and landscaped courtyard. Construction began in June following a groundbreaking attended by Gov. Mikie Sherrill.

JLL represented the development partnership between Sterling Properties of Livingston and Danbro Properties of Caldwell. Financing was provided by PCCP and U.S. Bank.