$3M For Low-Income Housing In Newark, Jersey City, South Orange

ESSEX COUNTY, NJ — Efforts to provide low-income housing in three North Jersey municipalities recently got a $3 million boost via the Federal Home Loan Bank of New York.

Last week, U.S. Rep. Donald Payne Jr. of the state’s 10th District announced that Newark, Jersey City and South Orange will get a combined $3 million in subsidies to support low-income family, disabled and senior housing projects in their borders.

The grants are part of the Federal Home Loan Bank’s responsibility to provide 10 percent of each bank’s profits to fund housing projects in local communities, Payne said.

The chosen projects are:

• Somerset Brownstones in Newark, which will consist of a new, 60-unit building for very low to low-income families
• The Al Gomer/South Orange B’nai B’rith project, which will rehabilitate an existing 65-unit apartment building for low-income seniors
• Bergenview Apartments in Jersey City, which will build a new 111-unit supportive housing facility for physically and mentally disabled, homeless to low-income tenants

“These projects are important to our community because they provide quality housing to the people that need it the most,” Payne said. “We have a serious low-income housing problem in this country and I want to thank the Federal Home Loan Bank of New York for choosing to fund these projects.”

• See related article: Essex County Homeless Population Rises For 4th Straight Year
• See related article: Half Of Hudson County's Homeless Live In Jersey City, Study Says

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