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TABLE OF CONTENTS
David P. Bonomo Named as HMFA's Chief Financial Officer
The Oaks at Weatherby Dedicated in Woolwich Township
DCA & HMFA Break Ground on 30-Unit Affordable Apartment Community in Somerdale
DCA & HMFA Celebrate the Grand Opening of Summit Heights in Jersey City
DCA & HMFA Celebrate the Grand Opening of Affordable Housing Community in Woodstown, Salem County
DCA & HMFA Celebrate the Grand Opening of Affordable Housing Community in Morristown
DCA & HMFA Help Dedicate Living Springs Senior Community in Delanco
New Affordable Housing for Seniors Opens in New Brunswick
DCA & HMFA Celebrate Grand Opening of Hamilton Supportive Housing Community in Neptune City
DCA & HMFA Celebrate Grand Opening of Evans Place in Pompton Plains
DCA & HMFA Celebrate Grand Opening of 11-Unit Veterans Housing Complex in Highland Park
Middletown Township Added to Live Where You Work Program
 
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Free, Statewide Housing Locator in New Jersey

The New Jersey Housing Mortgage and Finance Agency is pleased to offer NJHousing.gov, a free housing locator dedicated to helping New Jersey residents locate affordable rental and for-sale housing options. Searching is completely FREE and anonymous. You can search for housing using a wide variety of criteria like size, location, eligibility requirements and pet friendliness. Listings are up to date and offer up to 10 pictures, map links and neighborhood information so you focus only on the properties that fit your needs.

A professional, toll-free call center can provide search results by phone, fax or mail. Go to www.NJHousing.gov or call 877.428.8844 for toll-free assistance.
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Hillcrest Manor Senior Apartments

Hillcrest Manor Senior Apartments

HILLCREST MANOR SENIOR APARTMENTS 

 

Hillcrest Manor Senior Apartments in South Amboy, New Jersey offers a variety of features and amenities that meet a wide range of tastes and needs for senior citizens age 55 and older. The brand new four-story building houses 60 one-bedroom units and two efficiencies, for a total of 62 total units.

 

The affordable senior housing community includes free heat, hot water and gas. Each unit is cable-ready and features wall-to-wall carpeting, brand new appliances, solid wood cabinetry, spacious closets, and individual heat and air conditioning units. The building and units are wheelchair accessible.

 

Nestled in a lovely, residential area in Middlesex County, the building has an entry/security system and a wireless emergency alert system in every room and hallway, and the convenient location provides easy freeway access. Other features include covered parking for tenants, on-site laundry facilities, elevators, Meals on Wheels delivery and 24-hour maintenance.

 

The building has several indoor community and activity spaces for recreation, social functions, crafts, hobbies, entertainment and other uses, and is conveniently located just moments away from the downtown area, local grocers, entertainment, NJ Transit and a medical center, located just one block away.

 

Apartments start at $698 and range up to $760 per month, income limits apply. 


For more information about Hillcrest Manor, please call (732) 721-5300 (TTY: 711).

 

 

DAVID P. BONOMO NAMED AS
NJHMFA'S CHIEF FINANCIAL OFFICER
David P. Bonomo, CFO
David P. Bonomo, CFO
David Bonomo was appointed Chief Financial Officer in December of 2010. Mr. Bonomo has more than seventeen years of investment banking, advisory and operations experience. Most recently, he was the Managing Member of Shore Road Capital, LLC, a middle market financial advisory firm. At Shore Road Capital, David structured debt and equity placements for real estate development projects and provided capital markets, management consulting and valuation advisory services to middle market companies in the healthcare and transportation sectors. He has held senior investment banking positions at NW Financial Group, Gruntal & Co./Ryan Beck, and B.C. Ziegler & Company.
  
Mr. Bonomo has executed more than $1 billion of capital markets transactions, including tax-exempt bonds, public and private equity, mergers and acquisitions, loan placements, fairness opinions and securities portfolio restructurings. David received a B.A. in economics from Trinity College in Hartford, CT. He has a law degree from New York Law School, and is a member of the Bar in the State of New York. He is a Series 7 licensed FINRA Registered Representative.
PROJECT MILESTONES - AFFORDABLE HOUSING
The Oaks at Weatherby Dedicated in Woolwich Township
 
The Oaks at Weatherby Ribbon Cutting
The Oaks at Weatherby Ribbon Cutting
Representatives from the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials to celebrate the completion of The Oaks at Weatherby, an 86-unit family affordable rental housing community located on Kings Highway in Woolwich Township on November 23, 2010. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided $2.8 million in permanent mortgage financing. It also helped fund the project by allocating federal tax credits toward development costs.

"This is what it's all about, putting shovels in the ground and people to work immediately," said DCA Commissioner Lori Grifa, who is Chair of the HMFA. "This project is an excellent example of how public-private collaboration and investment can lead to both construction and permanent jobs, which are critical to New Jersey's long term economic success." Read the entire press release here...
DCA & HMFA Break Ground on 30-Unit Affordable Apartment Community in Somerdale
 

Representatives from the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials on November 29, 2010 to break ground on Gateway Village, an affordable apartment community for families located in Somerdale, Camden County. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided permanent mortgage financing in the amount of $352,000 for the project. Gateway Village was also awarded federal Low Income Housing Tax Credits, which will generate approximately $4.4 million in private equity. In addition, approximately $1 million in funding came from DCA's Balanced Housing Program.

"Gateway Village represents not just an expansion of affordable housing options in the Somerdale area, but it will serve as an asset to the surrounding community," said DCA Commissioner Lori Grifa, who is Chair of the HMFA. "The DCA and HMFA are proud to be involved in projects such as these because they create high-quality affordable housing for those New Jersey households who need it." Read the entire press release here...
DCA & HMFA Celebrate the Grand Opening of Summit Heights in Jersey City

Representatives from the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials on December 14, 2010 to celebrate the grand opening of Summit Heights, a 45-unit condominium project located at the corner of Secaucus Road and Summit Avenue in the Heights section of Jersey City. The HMFA, an affiliate of the Department of Community Affairs (DCA), committed approximately $7.5 million in construction and subsidy loans for the project.

"Affordable homeownership is a vital component towards the success of any city, and it provides residents with the opportunity to achieve their piece of the American Dream," said DCA Commissioner Lori Grifa, who is Chair of the HMFA. "My sincere congratulations go out to the development team for recognizing the need to produce sustainable and affordable workforce housing." Read the entire press release here...
DCA & HMFA Celebrate the Grand Opening of Affordable Housing Community in Woodstown, Salem County
 

A view of Freedom Village at night
A view of Freedom Village at night
Representatives from the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials on January 27, 2011 to celebrate the grand opening of Freedom Village, an affordable housing community located on Woodstown-Alloway Road in Woodstown. The HMFA, an affiliate of the Department of Community Affairs (DCA), committed $2 million in permanent financing to the project from the Special Needs Housing Trust Fund and also awarded federal tax credits and tax credit subsidies. The DCA committed housing vouchers from the State Rental Assistance Program to assist with the project's operations.

"In today's challenging economy, it is important to provide housing options for the people of New Jersey, especially to those in need of supportive services," said DCA Commissioner Lori Grifa. "Our unique collaboration with the New Jersey Department of Human Services allows us to finance affordable housing for individuals with developmental disabilities." Read the entire press release here...
DCA & HMFA Celebrate the Grand Opening of Affordable Housing Community in Morristown
 

Representatives from the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials on January 28, 2011 to celebrate the completion of The Pointe, an affordable, supportive housing community located on Harrison Street in Morristown, Morris County. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided approximately $612,000 in permanent financing for the project from the Special Needs Housing Trust Fund. To assist with the operations of the community, DCA committed housing vouchers from the State Rental Assistance Program.

"Increasing housing availability for all segments of the population, including people who are homeless, requires partnerships between communities, philanthropic groups and the State," said DCA Commissioner Lori Grifa. "I extend sincere congratulations to the development team for recognizing the need to provide homeless individuals with a permanent place to live and to supply them with social services to keep them from returning to the streets."
Read the entire press release here...
PROJECT MILESTONES - SENIOR, SPECIAL NEEDS, SUPPORTIVE AND VETERAN HOUSING
 
DCA & HMFA Help Dedicate Living Springs Senior Community in Delanco

 
  
Living Springs Ribbon Cutting
Ribbon Cutting at Living Springs in Delanco
New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta joined local officials on January 11, 2011 to celebrate the completion of Living Springs, an affordable senior apartment community in Delanco, Burlington County. The HMFA, an affiliate of the New Jersey Department of Community Affairs (DCA), provided $1.5 million in permanent financing in addition to awarding Living Springs with federal Low Income Housing Tax Credits, which will generate approximately $13.7 million in private equity. The project also received $5.6 million in subsidy from the federal Tax Credit Assistance Program that was made available to the HMFA through the American Recovery and Reinvestment Act of 2009.

"This project is a wonderful addition to Delanco as it will provide its senior residents with access to safe, decent, affordable housing," said DCA Commissioner Lori Grifa, who is Chair of the HMFA. "My sincere congratulations go out to the development team, which successfully transformed its vision into a premier community."
Read the entire press release here...
DCA & HMFA Celebrate the Grand Opening of Affordable Senior Housing in Cape May County

Representatives of the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials on February 7, 2011, to celebrate the completion of Conifer Village, an affordable senior housing community located at 3805 Bayshore Road in Lower Township, Cape May County. The HMFA, an affiliate of the New Jersey Department of Community Affairs (DCA), provided $1.4 million in permanent financing for the project and also awarded federal tax credits and tax credit subsidies.

 

"Conifer Village is a shining example of a public-private partnership between local and state governments and private developers to create affordable homes for our senior citizens," said DCA Commissioner Lori Grifa, who is Chair of the HMFA. "It is a testament to everyone involved, during this time of scarce financial resources and economic uncertainty, that seniors in the Greater Cape May community now have access to excellent housing and supportive services." Read the entire press release here... 

New Affordable Housing for Seniors Opens in New Brunswick

A 53-unit affordable housing building for senior citizens was dedicated Monday, November 22, 2010 at 55 Harvey at Providence Square in New Brunswick's Transit Village area.

The state Housing and Mortgage Finance Agency helped finance the project by providing $7.4 million in federal tax credit funds toward development costs.
 

"55 Harvey at Providence Square is a shining example of a true public-private partnership between local and state governments and private developers to create affordable homes for our senior citizens," state Community Affairs Commissioner Lori Grifa, who also is HMFA chairwoman, said at the dedication. "It is a testament to everyone involved, during this time of scarce financial resources and economic uncertainty, that seniors in the New Brunswick community now have access to excellent housing and supportive services to enjoy." More... 


Original Article Citation Information
Hester, Sr., Tom. "New Affordable Housing for Seniors Opens in New Brunswick." NewJerseyNewsRoom.com, November 22, 2010. Accessed February 1, 2011. http://www.newjerseynewsroom.com/state/new-affordable-housing-for-seniors-opens-in-new-brunswick

DCA & HMFA Celebrate Grand Opening of Hamilton Supportive Housing Community in Neptune City
 
Representatives from the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials on November 30, 2010 to celebrate the grand opening of Hamilton Supportive Housing, an affordable housing residence for individuals with special needs. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided $556,000 in construction and permanent financing for the project from the Special Needs Housing Trust Fund. An additional $41,000 in construction and permanent financing came from the New Jersey Community Housing Partnership Program.

"Too often the most vulnerable in the community are forced into homelessness, substandard housing or waiting lists. The Trust Fund is helping to change that by assisting projects like Hamilton Supportive Housing," said DCA Commissioner Lori Grifa, who is Chair of the HMFA. "Now, instead of seeing homelessness or institutionalization as their only options, more people with special needs have the opportunity to stabilize their lives and move towards more independent living."
 
Read the entire press release here...
DCA & HMFA Celebrate Grand Opening of Evans Place in Pompton Plains
 

Representatives from the New Jersey Housing and Mortgage Finance Agency (HMFA) joined local officials on December 7, 2010 to celebrate the grand opening of Evans Place, an affordable supportive housing community for individuals with special needs. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided $2.4 million in construction and permanent financing from the Special Needs Housing Trust Fund.

"Evans Place represents a commitment to compassionate and effective services delivered in a manner that respects individual dignity, personal strength, and self-determination," said DCA Commissioner Lori Grifa, who is Chair of the HMFA. "The DCA and HMFA will continue to partner on projects that provide both affordable housing and permanent supportive housing so that people with disabilities will have the opportunity to live in an environment that fosters independence."
Read the entire press release here...
DCA & HMFA Celebrate Grand Opening of 11-Unit Veterans Housing Complex in Highland Park
 

New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta joined Middlesex County freeholders and other local officials on November 11, 2010 to celebrate the grand opening of the Highland Park Veterans Housing Complex at 101 South Third Avenue. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided $1.89 million in construction financing from the Special Needs Housing Trust Fund for the project, which is providing supportive, affordable housing for 11 military veterans. Additional funding came from the DCA's State Rental Assistance Program.

"The brave men and women of the United States Armed Forces who have served our country during wartime deserve our utmost respect and appreciation for defending our freedoms and preserving our way of life," Governor Christie said in a letter read at the event. "As Governor, I commend all the organizations that contributed to this effort to provide housing and supportive services to our veterans in need."
Read the entire press release here...
JOINING FORCES TO BETTER OUR COMMUNITIES
Middletown and Bridgeton Added to Live Where You Work Program  
The HMFA is proud to partner with 36 municipalities across the State in the "Live Where You Work" Program (LWYW), with Middletown and Bridgeton being the latest municipalities to join.
Read the complete press release regarding Middletown here..., and
Read the complete press release regarding Bridgeton here...
  
LWYW is a special homebuyer workforce incentive program for people who wish to buy a home in the town where they work. LWYW provides low-interest, fixed rate mortgage loans, downpayment and closing cost assistance, and flexible underwriting criteria for the loan qualification process to qualified buyers.

The Live Where You Work program strives to revitalize and build sustainable communities that will provide a greener environment, access to alternative transportation and affordable housing opportunities for residents.

Live Where You Work received the 2009 President's Award for Innovation from the Council of State Community Development Agencies, a national association that supports state efforts in community development, affordable housing, local economic development and state-local relations. The award recognizes innovative activities, policies or programs that have been implemented at the state level and have demonstrated success in solving community needs.
ABOUT HMFA
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 housing and encouraging mixed use developments. These initiatives promote sustainable development that protect open space, curb sprawl and improve 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.
Sincerely,
Anthony's signature
Anthony L. Marchetta, Executive Director
New Jersey Housing and Mortgage Finance Agency
"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.