TRENTON, N.J. — New Jersey Housing and Mortgage Finance Agency (NJHMFA) has been named a 2023 Leader in Real Estate, Construction and Design by NJBIZ for its contributions to multifamily development in New Jersey.
This award particularly recognizes NJHMFA for its recent leadership in developing key affordable housing projects in Paterson and Hamilton.
“We are honored to receive this recognition from NJBIZ,” said Executive Director Melanie R. Walter.
“This award recognizes our commitment to ensuring affordable housing in Paterson and Hamilton. Our work here reflects our dedication to providing safe, affordable housing for all New Jersey residents.”
Three projects opening this year proved pivotal in earning this recognition from NJBIZ.
This July, Barclay Place, which provided 56 affordable apartments in downtown Paterson a block from Saint Joseph University Medical Center, opened its doors to the public. This project received financing through the NJHMFA’s innovative Hospital Partnership Subsidy Program (HPSP), a national model for leveraging hospitals’ status as anchor institutions to improve community health outcomes through the creation of nearby affordable and supportive housing.
Two miles away, Hinchliffe Residences served as the financing key to Paterson’s long-awaited redevelopment and revitalization of Hinchliffe Stadium, one of the country’s last remaining pre-integration baseball stadiums. By leveraging the stadium’s historic nature with modern planning elements, including affordable senior housing and a new parking deck, the state’s largest-ever historic preservation project has become a stepping stone to Paterson’s future.
Freedom Village at Hamilton Woods exemplified how NJHMFA spearheads the development of supportive housing in Hamilton for residents with special needs. This barrier-free apartment provides residents with ample access to community resources and ensures that all residents can live independent, fulfilled lives, regardless of income or disability status.
The award winners will be formally recognized at a virtual ceremony on November 29. To learn more about the awards, visit https://njbiz.com/event/njbiz-leaders-in-real-estate-construction-and-design-2023/.
About Us: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs. To learn more about NJHMFA, visit: https://NJHousing.gov/