By Joshua Burd
The Trenton Housing Authority has tapped Property Resources Corp. as its co-developer for a plan that would bring more than 500 new homes to the city’s Battle Monument neighborhood.
According to the agency, the mixed-use, multiphase project calls for townhomes and apartment flats for families, amenity-rich housing specifically designed for seniors and affordable homeownership opportunities. Much of the plan would center on the Donnelly Homes, a 376-unit public housing complex on New Willow Street that opened in 1941, which would be redeveloped as part of the public-private partnership.
“Selecting a qualified development partner to assist with Housing Implementation Strategy is key to moving this process forward,” said Jelani Garrett, THA’s executive director. “We are engaging all of our partners to ensure that this vision for the neighborhood is realized. This is a mammoth effort that requires the buy-in and collaboration of various organizations in the Capital City, including the state, the city, the board of education, Capital Health and many, many others.”
The announcement comes four years after the agency and the city were awarded a $1.3 million Choice Neighborhoods Planning Grant from the U.S. Department of Housing and Urban Development. Since then, THA said it has worked with residents and other community partners to develop the transformation plan for North Trenton, one of the municipality’s most historic neighborhoods but one that has suffered from disinvestment, vacancy and blight.
Officials added that they seek to seamlessly incorporate Donnelly Homes into their 20-year master plan for Trenton’s growth and development, although additional details were not immediately available Monday. PRC and THA noted that they will apply for federal Low-Income Housing Tax Credits and several soft funding sources to finance the revitalization.
“It is exciting to see seeds of the evolution of the Battle Monument neighborhood with walkable blocks, functional commercial corridors and easy access to jobs, parks, schools and churches,” Trenton Mayor Reed Gusciora said. “This is the model for successful new neighborhoods in the U.S. and we’re proud to show the country how we invest in our communities, while ensuring that affordable housing remains a top priority.”
PRC is a full-service real estate development, construction, property management and design firm established in 1971, according to a news release. The company also described itself as an industry leader in the affordable housing field, noting that it has developed, preserved or maintained nearly 20,000 apartment units during its history.
“At PRC, our mission is centered around ensuring communities have access to safe, high-quality, affordable housing, and we’re proud to extend this commitment to the City of Trenton,” said Matt Linde, principal and CEO of Property Resources Corp. “We’re honored to partner with the Trenton Housing Authority to advance this transformational plan and bring this vision to life for residents in the North Trenton / Battle Monument neighborhood.”
