FOR IMMEDIATE RELEASE: Thursday, October 30, 2014


Multifamily Development to Provide 48 Units of Affordable Rental Housing for Working Families 14 Set Aside for Individuals with Special Needs

 WESTAMPTON, N.J. – The New Jersey Housing and Mortgage Finance Agency (HMFA) joined state and local officials, and representatives of Project Freedom, Inc. (PFI), to celebrate the groundbreaking of Freedom Village, a 48-unit affordable housing community for low- to moderate-income families and individuals with special needs in Westampton Township, Burlington County. The HMFA, an affiliate of the New Jersey Department of Community Affairs (DCA), awarded the project federal Low Income Housing Tax Credits (LIHTC) that generated approximately $11.7 million in private equity.


"We are pleased to celebrate the groundbreaking of this worthwhile housing project that will create affordable and high-quality housing for the township’s working families and individuals with special needs," said DCA Commissioner Richard E. Constable, III, who also serves as Chairman of the HMFA. "I commend the development team for utilizing the federal Low Income Housing Tax Credit Program to get the financing they need to embark on this project, which is sure to be a community asset in Burlington County."


The project, with approximately $13.8 million in total development costs, will not only provide affordable housing opportunities for New Jersey families, but will also have a positive economic impact on the Burlington County community. HMFA estimates that the project will generate approximately $21.9 million in one-time economic output and create approximately 131 direct and indirect/induced full-time jobs. The project will generate $801,000 in state and local taxes during construction. Upon completion, the project will continue to add value to the community by providing more than $2.4 million in ongoing economic output and approximately 14 direct and indirect/induced full-time jobs, and approximately $138,000 in state and local taxes annually. Additional funding sources for Freedom Village at Westampton include Roma Bank, Burlington County HOME Funds, Westampton Predevelopment Grant, and a deferred developer fee.


The development will involve the new construction of 48 one-, two-, and three-bedroom units in six "L" shaped two-story buildings, each with an elevator, on a 10-acre site. All units will be wheelchair accessible, with wide doors and hallways. The units will also contain energy efficient appliances, central heating and air conditioning, accessible kitchens and baths, and wall to wall carpeting. The project developer, PFI, will provide and coordinate the supportive services to special needs tenants, which will be provided by the Division of Developmental Disabilities and Catholic Charities.


"Freedom Village at Westampton will present a better living experience for our deserving New Jersey residents, while contributing to the local and state economy," said HMFA Executive Director Marchetta. "We are thrilled that the equity from the housing tax credits we awarded the project will cover more than 84% of its total development cost."


Annually, states are allocated Low Income Housing Tax Credits by the federal government on a per-capita basis. HMFA, as the administrator of the federal Low Income Housing Tax Credit Program in New Jersey, allocates approximately $20 million in 9% credits annually, which generates over $180 million in equity for the development of affordable housing in the state. The project developer, PFI, was awarded the extremely competitive 9% tax credits from the 2013 non-Sandy round, Supportive Housing Cycle.


PFI is a non-profit organization that develops and operates barrier-free permanent supportive housing that enables individuals with disabilities to live independently.  In addition, they provide supportive services such as recreation, training, and advocacy. 


For more information on HMFA programs, please visit


(Freedom Village at Westampton Groundbreaking Photo –LEFT TO RIGHT)

1.Norman Smith Project Freedom, Inc. Founder

   Associate Executive Director Project Freedom, Inc.

2. John Murray,HMFA

3. United States Department of Housing and Urban Development

    Maria Maio-Messano,  Field Office Director

4.Westampton Township Planner-Harry McVey

5. Burlington County Freeholder Director Bruce Garganio

6. Westampton Township Committee Member, Andre Daniels

7. Westampton Mayor Carolyn V. Chang

8. Executive Director, Project Freedom, Inc., Tim Doherty

9.Hidden from view is C. Herbert Schneider, Chairman, Project Freedom Board of Trustees

10. TD, Bank N.A. Benjamin Kruger,

Vice-President Commercial Real Estate