The New Jersey Housing and Mortgage Finance Agency (NJHMFA) has awarded more than $27 million in annual 9% low-income housing tax credits (LIHTCs) to help provide more than 1,300 affordable housing units in the state.

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The housing credits are expected to generate more than $254 million in private investment to create 21 developments in 12 counties.

“A focus of our program is on high opportunity municipalities with high performing school districts, access to transportation, and proximity to other positive land uses such as to hospitals and grocery stores,” said NJHMFA executive director Charles A. Richman. “LIHTCs have been instrumental in spurring developments that change the lives of many of New Jersey’s most vulnerable residents.”

With awards in areas such as Holmdel, Princeton, and Saddle River, and a combination of mixed-income and 100% affordable projects, these awards help drive NJHMFA’s goals of deconcentrating poverty and encouraging development in communities of high opportunity, said officials.

There are three awards to projects in Opportunity Zones in East Orange, New Brunswick, and Trenton, which are instrumental in driving long-term capital investments and bringing a range of housing affordability to low-income rural and urban communities, according to NJHMFA. A focus of the LIHTC awardees is also on essential support service infrastructures for our most vulnerable residents; health and wellness programs, job training, and education and enrichment opportunities can be found with multiple awarded projects.

Since the inception of the LIHTC program, more than 60,000 apartments have been created in New Jersey.

Here is a breakdown of the latest allocation round:

LIHTC AWARD TOTALS

(FAMILY, SENIOR, SUPPORTIVE HOUSING, AND MIXED-INCOME)

TYPE OF UNITS

# OF PROJECTS

LIHTC APARTMENTS

TOTAL
APARTMENTS

TAX CREDIT AWARDS

TAX CREDIT EQUITY

TOTAL DEVELOPMENT COSTS

FAMILY

11

711

775

$13,329,232

$125,539,728

$209,099,962

SENIOR

5

321

348

$6,361,024

$59,896,791

$89,929,489

SUPPORTIVE HOUSING

3

203

206

$4,003,508

$38,029,523

$58,413,934

MIXED INCOME

2

128

520

$3,357,911

$30,832,862

$193,227,521

TOTALS

21

1,363

1,849

27,051,675

254,298,904

550,670,906

FAMILY DEVELOPMENT AWARDS

PROJECT NAME

MUNICIPALITY

DEVELOPER

LIHTC APARTMENTS

APARTMENTS

Genesis Metropolitan Paramus Housing
Paramus
Genesis Companies & MDG Development

44

104

Brittany Woods
Gloucester Twp
Ingerman Development

29

29

Tavistock At Woolwich
Woolwich
Michaels Development

71

72

Saddle River Family
Saddle River
Michaels Development

111

111

Willows at Greenwich
Greenwich
Ingerman Development

66

66

Apartments at Clinton
Clinton
PIRHL Developers

84

84

Gerards Riverview
Bordentown
Volunteers of America Delaware Valley

65

66

900 Herrontown Road
Princeton
RPM Development

64

65

Holmdel Family Apartments
Holmdel
Walters Group

50

50

Cramer Hill Family
Camden
Michaels Development

74

75

Stirlingside Residences
Middlesex
The Community Builders

53

53

SENIOR DEVELOPMENT AWARDS

PROJECT NAME
MUNICIPALITY
DEVELOPER

LIHTC APARTMENTS

APARTMENTS
Fair Share Senior Housing Ph I
Mount Laurel
Fair Share Housing Development

70

71

Branchburg Senior Phase II
Branchburg
Walters Group

75

75

1425 Teaneck Road
Teaneck
The Alpert Group & Geriatric Services Inc

39

40

Newcomb Senior Phase II
Vineland
Eastern Pacific Development

68

68

Hilltop Senior
Irvington
Urban Builders Collaborative

69

94

SUPPORTIVE HOUSING DEVELOPMENT AWARDS

PROJECT NAME

MUNICIPALITY

DEVELOPER

LIHTC APARTMENTS

APARTMENTS

Henderson Road Supportive Housing
Middlesex
RPM Development & Life Management

60

61

Little Ferry Senior Supportive Housing
Little Ferry
Regan Development Corp & Collaborative Support Programs of NJ

84

85

Maple Shade Senior
Maple Shade
ReBuild Metro

59

60

MIXED-INCOME RESERVE AWARDS

PROJECT NAME

MUNICIPALITY

DEVELOPER

LIHTC APARTMENTS

APARTMENTS

The Crossings at Brick Church Station Phase 1a
East Orange
Triangle Equities

80

400

150-170 S Broad
Trenton
RPM Development

48

120