A mixed-income project that will bring 100 new apartments to Essex County is slated for delivery by year-end, as its developers gathered last week to mark a construction milestone.
A development team has completed nearly 50 new apartments in Ocean Township as part of the state’s ongoing effort to bring new affordable housing to areas impacted by Hurricane Sandy.
The Michaels Organization is on track to rehabilitate 64 historic affordable housing units in Camden, thanks in large part to financing from TD Bank and state and local funding sources.
Amid the rollout of the new federal Opportunity Zone program, developers and public officials are trying to balance two key objectives: Identifying shovel-ready projects — allowing investors to maximize the tax benefits of the law — and steering capital to low-income areas that weren’t already attracting investment and may have higher barriers to entry. The state believes it can check both boxes with the right coordination and by layering in the subsidies that have helped revitalize many of New Jersey’s cities and downtowns.
By Joshua Burd The state has awarded its latest round of funding under the federal Low Income Housing Tax Credit program, allowing developers to generate an estimated $270 million in private equity in support of more than 1,400 new affordable…
Michaels Development and the city of Camden have broken ground on 72 low- and moderate-income apartments, continuing a project to redevelop a blighted public housing complex.
Developers have started construction on a new 54-unit, age- and income-restricted rental community in Cinnaminson, their seventh joint venture in southern New Jersey.
RPM Development Group has unveiled a new 145-unit affordable housing property in Aberdeen, marking the completion of an effort to redevelop a long-vacant industrial site.