More than $18M in affordable housing funds awarded

TRENTON – More than $18 million in affordable housing funds have been awarded for projects around the state.

About $18.7 million in federal Low Income Housing Tax Credits has been provided, according to the N.J. Housing & Mortgage Finance Agency.

The money will help fund 510 affordable rental housing units, 234 affordable rental units for seniors, and 242 supportive housing units, HMFA reported today.

“These funds will create housing opportunities that greatly benefit the lives of New Jersey’s hard working families, seniors and special needs residents,” said Department of Community Affairs Commissioner Richard E. Constable III in a release. 

Approximately 75 percent of the projects will be in suburban areas and the rest in urban areas, officials said.

The funding will be used to construct or preserve a total of 18 housing developments in Atlantic City, Barnegat Township, Burlington Township, Elizabeth City, Ewing, Franklin Township, Gloucester Township, Hopewell Township, Lawnside, Long Branch Township, Mantua, Montvale, Newark City, Orange City, Somerset, Trenton, Winslow Township, and Woodbury.

More than $18M in affordable housing funds awarded