July 31, 2013 - Christie Administration Marks Grand Opening of Bergen Court Apartments in Jersey City
Christie Administration Marks Grand Opening of Bergen Court Apartments in Jersey City
Rehabilitated Multifamily Housing Development Provides 12 Affordable Housing Opportunities, Four for Homeless Individuals with Disabilities
Jersey City, N.J. – The New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta yesterday joined New Jersey Community Capital, the United Way of Hudson County and Jersey City officials in celebrating the grand opening of Bergen Court Apartments located at 242 Bergen Avenue in Jersey City. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided close to $270,500 in permanent financing through the Small Rental Project Loan Program and $400,000 in construction financing from the Special Needs Housing Trust Fund for the project. Additional funding came from a U.S. Department of Housing and Urban Development (HUD) Supportive Housing Program Grant, and Jersey City HOME funds.
“We are pleased that our Small Rental Project Loan Program is helping to provide permanent financing for this project.” said DCA Commissioner Richard E. Constable, III, who is Chair of the HMFA. “These programs work together to not only create affordable housing options, but to rehabilitate communities.”
Bergen Court has been vacant for over ten years with many failed attempts at financing and rehabilitation. The Garden State Episcopal Community Development Corporation (GSECDC) partnered with HMFA and other public- and private-sector organizations to substantially rehabilitate this facility. The project includes 12 affordable housing units, eight two-bedroom units with rents below 60% of the area median income and four one-bedroom units that are set aside for chronically homeless individuals with disabilities. The households that occupy these four units will pay a monthly rent of 30% of their adjusted gross income minus a utility allowance. Apartment amenities include a refrigerator, air conditioner, cable television hookups, basement storage space, range and a laundry facility on each floor. As part of the Jersey City Redevelopment Plan, this project is conveniently located near public bus transportation, schools, parks and recreational facilities.
“The HMFA is pleased to provide the capital financing that enabled the development of this project which provides affordable housing and an enhanced living experience for the residents of Jersey City,” said HMFA Executive Director Anthony Marchetta. “We commend the city for recognizing the need for affordable housing and providing opportunities to those most in need.”
The Garden State Episcopal Community Development Corporation (GSECDC), located in Jersey City, is the developer for this project and has been involved in the development of affordable housing for over 25 years. They have built 228 units of affordable housing including low-income rentals, home ownership opportunities for first-time home buyers, and special needs housing through rehabilitation and new construction activities. This will be the fourth project GSECDC is working on with HMFA; they have completed three other permanent supportive housing projects for 20 individuals with funding through the Special Needs Housing Trust Fund.
The HMFA provides funding for affordable home ownership and housing opportunities for New Jersey residents. The Agency responds to the needs of its residents by implementing creative programs and establishing alliances that fund affordable home mortgages for first-time home buyers; promote construction and rehabilitation of rental housing; encourage mixed-income, owner-occupied housing growth as a means to stabilize urban neighborhoods; advance the growth and development of municipalities; and contribute to the quality of life of older adults, the disabled and those with special housing needs.
For more information on HMFA programs, please call 1-800-NJHOUSE or (609) 278-7400, or log on to www.njhousing.gov.