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Senate Testimony on "Helping Homeowners Avoid Foreclosure"
Project Live: Ground Broken in Newark for Ridgewood Avenue Supportive Housing
Edgewater NJ Community Celebrates Start of New Senior (55+) Housing at Living Springs Campus
NHA Breaks Ground on 80 New Mixed-Income Housing Rental Units in Central Ward, Newark
Additional Noteworthy HMFA Ground Breakings
Completion of Exterior Fašade on Historic Security Trust Building in Camden
New Towns Added to the Live Where You Work Program
Beverly Commons, Beverly NJ
BEVERLY COMMONS SENIOR HOUSING - Located in Beverly, NJ, Beverly Commons features 25 one-bedroom apartments for persons 55 and older. The attractive and well-maintained property is fully handicapped-accessible, and has a large, well-lit parking area. The building features two community rooms, 24-hour security surveillance cameras, a full-service elevator, and three laundry room facilities.
Each apartment has a spacious and open layout with large closets, brand new appliances, and oversized bathrooms featuring tiled bath/showers. All units offer separate heat, air conditioning and hot water, complete with energy-efficient appliances (refrigerator, stove, dishwasher, and microwave). The units range from 495 to 655 square feet, with rents ranging from $675.00 to $725.00 plus utilities.

Click here for further information.

NJHMFA's Marge Della Vecchia holds the 2009 Award for Program Excellence


2010 Women's Conference Save the Date  
Marge Della Vecchia HeadshotRead HMFA Executive Director Marge Della Vecchia's recommendations to the U.S. Senate Committee on "Helping Homeowners Avoid Foreclosure"
"[...] We would urge the federal government to assist HFA's abilities to issue bonds and achieve sufficient liquidity to get back on track with the sale of affordable, fixed-rate first-time home buyer mortgages for which there continues to be a very strong demand. [...]We believe that the powerful first-time home buyer will also serve to unseize the resale market and provide the demand needed for growing families and seniors to begin their search for new housing as well. It's not a trickle-down effect, but really a bubble-up process.
      While we embark on stimulating the economy by creating jobs and investing in infrastructure, renewing investor confidence and deleveraging our financial institutions, we must also be committed to ending the ongoing housing crisis."
Click to download the hearing's complete transcript. (159K PDF) 
DCA and HMFA Host 2009 Governor's Conference
on Housing and Community Development
HUD Secretary Shaun Donovan Delivers Keynote Address at
15th Annual Conference
U.S. Department of Housing and Urban Development Secretary Shaun DonovanGovernor Jon S. Corzine welcomed U.S. Department of Housing and Urban Development Secretary Shaun Donovan to this year's 2009 Governor's Conference on Housing and Community Development Conference on Tuesday, September 22.

Secretary Donovan was the keynote speaker during the two-day conference, which focused on economic challenges and achieving success in "Preserving Communities, Providing Housing, and Promoting Opportunities." State housing professionals, government officials, and community organizations were among the attendees. The Atlantic City Convention Center was the site of the conference, which was sponsored by the Department of Community Affairs and the New Jersey Housing and Mortgage Finance Agency, a DCA affiliate.

"The global recession has changed the housing landscape significantly since last year's conference," said New Jersey Department of Community Affairs (DCA) Acting Commissioner Charles A. Richman. "Yet, opportunities still abound to make a positive difference in our communities and in the future of housing in New Jersey. The DCA and New Jersey Housing and Mortgage Finance Agency will spend the two-day conference conveying that message to attendees." More...
Project Live: Ground Broken in Newark for Ridgewood Avenue Supportive Housing
Area officials and HMFA Executive Director Marge Della Vecchia.A groundbreaking was held August 27th at 190 Ridgewood Ave. in Newark for the 21-apartment affordable housing development known as Ridgewood Avenue Supportive Housing.

The three-story apartment complex will provide 21 homeless individuals the opportunity, stability and support needed to live a stable life. Each 550 square foot apartment will be fully furnished, and will include a living room, kitchen with eat-in area, storage space, bedroom and bathroom.

Two apartments on the first floor will be fully handicapped accessible with remaining apartments designed to be handicap adaptable. The project will provide the services needed to accommodate residents with both physical and mental disabilities enabling them to live with minimal assistance. More...
Edgewater NJ Community Celebrates Start of New Senior (55+) Housing at Living Springs Campus
Ground breaking for Edgewater Senior Housing - Abundant LifeAfter years of planning, Abundant Life Fellowship Community
Development Corporation (CDC) held a ceremonial groundbreaking on September 15 for Living Springs Campus, a mixed-use community for seniors 55 and older. The project includes a regional medical center and affordable apartments on 52 lakefront acres that the non-denominational church owns in Delanco. The ceremony was attended by township and state officials as well as church leaders, parishioners, friends and neighbors.

"We are so grateful for the community's support of our vision to bring affordable housing to the elderly," said Aubrey Fenton, Executive Pastor of Abundant Life Fellowship, who noted that there is a great need for such
housing, especially during these difficult economic times. "The church has already been receiving a steady stream of calls from seniors interested in making their home at Living Springs," Fenton said. More...
NHA Breaks Ground on 80 New Mixed-Income Housing Rental Units in Central Ward
Montgomery Heights Ground breakingAt 11 A.M., Tuesday, September 15, a groundbreaking celebration was held fo the Montgomery Heights housing development. The five-story mid-rise building will include 80 one-, two- and three-bedroom stately apartments and town homes offering panoramic views and first-class amenities. The development is located at the intersection of Martin Luther King Jr. Blvd. and Montgomery Street, Newark, NJ 07102.

The $29 million project slated for completion in the fall of 2010, will include 10,000 square feet of commercial space on the ground floor along with a management office and community room. The 80 units will include 20 units of public housing, 20 project-based Housing Choice Voucher units and 40 units of affordable housing. More...
HMFA Celebrates Completion of Exterior Fašade
on Historic Security Trust Building in Camden

301 Market Street RestoredNew Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Marge Della Vecchia joined state and local officials on October 27, 2009 to celebrate the completion of exterior fašade renovation of the New Jersey Safe Deposit and Trust Building (Trust Building), located at 301 Market Street in the heart of downtown Camden. Upon completion, the rehabilitated Trust Building and building addition will provide 35 units of affordable housing for senior citizens.

"As the State's housing agency, we have a moral obligation to provide quality and safe housing to Camden's senior citizens that is within their means of affordability," said HMFA Executive Director Della Vecchia. "The HMFA is proud to be involved in a significant Camden landmark's transformation into a state-of-the-art senior housing facility." More...
Six New Towns Added to Live Where You Work Program

The HMFA is proud to partner with 24 municipalities across the state in the "Live Where You Work Program". The latest municipalities to join include Edgewater Park, Cherry Hill, Plainfield, Old Bridge, Passaic, and Belmar.
The Live Where You Work Program (LWYW) is a workforce housing initiative that provides low-interest, fixed rate mortgage loans to homebuyers purchasing homes in towns where they are employed. Other benefits include down payment and closing cost assistance and flexible underwriting criteria for the loan qualification process.   
The Live Where You Work Program advances Governor Corzine's efforts to assist hard-working families achieve the 'American Dream' of owning their own home. This initiative also enhances the state's efforts to revitalize and build sustainable communities that will provide a greener environment, access to transportation and affordable housing opportunities for residents. 
The New Jersey Housing and Mortgage Finance Agency (HMFA) is leading the way through innovative programs that are building effective relationships with developers, corporations, non-profits and for-profits to produce more affordable housing. HMFA puts people first by financing single family and multi-family rental housing and encouraging mixed use developments. These initiatives promote sustainable development that protects open space, curbs sprawl and improves regional transportation.

We are dedicated to making investments in communities across New Jersey and building neighborhoods where people want to raise families and build businesses. Part of that vision means providing people of all walks of life with access to safe, clean and affordable housing options. Thanks to the efforts of the HMFA, we are creating homes for our state's families.
Marge Della Vecchia
Executive Director
"Homefront" is produced and distributed by the New Jersey Housing and Mortgage Finance Agency. HMFA creates and implements programs to advance the rehabilitation, construction, preservation and financing of affordable housing for the State's residents, lenders, developers and contractors. HMFA is the state administrator for federal housing assistance programs and works in cooperation with State, municipal and non-profit agencies. HMFA secures program funding and operating expenses through the sale of taxable and tax-exempt bonds to private sector investors and is not dependent upon funding from the State Treasury.
No State tax dollars were used to design and produce this newsletter.