Apr-19-2011 DCA & HMFA Celebrate the Grand Opening of Millennium Way in Newark
DCA & HMFA Celebrate the Grand Opening of Millennium Way in Newark
Development Provides 56 Units of Affordable Housing in City's South Ward Section
NEWARK, N.J. – New Jersey Department of Community Affairs (DCA) Commissioner Lori Grifa today joined Newark Mayor Cory Booker and other local officials to celebrate the completion of Millennium Way, a 56-unit, affordable housing development located in the South Ward section of Newark. The New Jersey Housing and Mortgage Finance Agency (HMFA), an affiliate of the DCA, provided approximately $1.5 million in permanent financing for the project from the Special Needs Housing Trust Fund.
"Creating quality affordable housing options for all segments of the population requires partnerships between the communities, philanthropic groups and the State," said Commissioner Grifa, who is Chair of the HMFA. "We are extremely proud that Millennium Way provides a comfortable place for residents to call home and that it offers a new resource for the greater Newark community."
Millennium Way involved the substantial rehabilitation of 38 two-story townhouses and 18 stacked flats for a total of 56 units. Two townhomes are equipped for hearing/visually impaired residents and three townhomes are fully accessible for disabled persons. Additionally, 15 of the units are set aside for individuals with a mental illness who are in need of permanent supportive housing.
The project will also provide a 4,100-square-foot community center that will be complete in Fall 2011. Millennium Way is served by 10 bus routes that provide direct access to New York City. The site is also in close proximity to The University of Medicine and Dentistry of New Jersey (UMDNJ), Essex County College and the Rutgers University, Newark Campus.
"I am so pleased that the Housing and Mortgage Finance Agency was able to be a part of Millennium Way, which would not be a reality without the hard work, persistence and commitment of the development team," said HMFA Executive Director Anthony Marchetta. "Without a doubt, this project presents a better living experience for the residents of the City of Newark."
The Newark Housing Authority (NHA) is the developer for Millennium Way, and is the largest public housing authority in New Jersey. NHA currently operates and maintains 8,000 scattered public housing units in 44 public housing developments. The mission of the NHA is to provide residents of the City of Newark with access to decent, safe and affordable housing.
The Special Needs Housing Trust Fund is administered by the HMFA and provides capital financing to create permanent supportive housing and community residences for individuals with special needs, with priority given to individuals with mental illness. The purpose of the fund is to develop special needs housing and residential opportunities as alternatives to institutionalization or homelessness for those who would benefit from these programs and to ensure the long-term viability of such housing.
For more information on HMFA programs, please call 1-800-NJHOUSE or (609) 278-7400, or log on to http://www.nj-hmfa.com.