Contact Us

Disaster Recovery Funds to Yield More Affordable Rental Housing

Federal disaster money set aside to help build more affordable rental units in New Jersey is being put to work.

Affordable housing
Affordable housing (NJ Redevelopment Authority)

Of the $10 million earmarked for the low interest Predevelopment Loan Fund, $3 million is being awarded to builders to help construct over 400 rental units through out the state.

Department of Community Affairs Commissioner Richard Constable says “they [builders] could use it for the purchasing of a site, site acquisition. They could use it to prep a site. So it’s for the predevelopment of a housing development project.”

Constable made the announcement in Cape May Court House Friday where ten single-family rental homes are being constructed by the United Cerebral Palsy of Northern Central and Southern New Jersey to benefit special needs families in financial need.

The money is also assisting builders to redevelop a site in Newark into a 152 unit assisted living residence for senior citizens as well as senior housing complexes Fair Lawn, Bergen County and Atlantic City.

The Predevelopment Loan Fund has a remaining $7 million balance that both non-profit developers and for profit builders can apply for.  Constable says the New Jersey Redevelopment Authority (NJRA) is accepting applications for the Predevelopment Loan Fund for Affordable Rental Housing Fund. Non-profit developers can view the program guidelines and the application online at njra.us/njra/site/default.asp. Developers can call (609) 292-3739 for additional information.

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://wobm.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on 92.7 WOBM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on 92.7 WOBM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!