State officials have unveiled a new $50 million loan program aimed at funding 400 apartments for disabled veterans, homeless individuals and other residents with special needs.
The state Economic Development Authority is offering $500,000 in grant funding to help municipalities and counties draw investors to federally designated Opportunity Zones.
L+M Development Partners and Prudential Financial have secured financing to preserve and renovate a government-subsidized housing complex in Newark’s South Ward.
State officials are hoping to spur action by municipalities that are home to Opportunity Zones, unveiling a grant offering to help local leaders strategize for the federal program.
State officials have launched a new website and interactive mapping tool aimed at helping local governments, investors and other stakeholders navigate the 169 census tracts in New Jersey that have been designated under the federal Opportunity Zone program.
An investment group has set out to revitalize two public housing complexes in Newark that city officials say are nearly uninhabitable, with plans to spend more than $170 million on the project and the full financial backing of the state.
The state’s long-running battle over affordable housing policy is still rife with uncertainty and unanswered questions, stakeholders say, even for the roughly 200 towns that have reached settlements on how they will zone for new development.
