TRENTON, NJ – The State of New Jersey, under the Murphy Administration, has committed over $26 million to support affordable housing projects. This funding, allocated through the Affordable Housing Trust Fund (AHTF) and managed by the Department of Community Affairs (DCA), aims to develop 87 affordable rental and homeownership units across the state.
Governor Phillip Murphy reiterated his administration’s dedication to making housing more accessible for New Jersey’s working families. He highlighted this initiative as a key step in fulfilling a pledge made at the beginning of his term to overhaul the state’s housing system. Acting DCA Commissioner Jacquelyn A. Suárez outlined the administration’s strategy, emphasizing the development of safe, accessible, and affordable housing to enhance community life and promote economic prosperity.
The grants target smaller housing projects, which typically struggle to secure financing, by supporting community-based organizations deeply rooted in addressing housing equity. The funding is distributed through three specific pools: the Municipal Settlement Fund, focusing on integrating small-scale projects into local communities; the Neighborhood Partnerships Fund, dedicated to advancing affordable housing in Qualified Urban Aid Towns; and the Innovation Fund, aimed at backing unique projects that contribute to New Jersey’s housing objectives.
Additionally, the AHTF has extended support to the Housing and Community Development Network of New Jersey for the Jumpstart Program. This initiative is designed to train developers, with a special focus on non-profit community developers and BIPOC individuals, in producing quality affordable housing to address the racial wealth gap through homeownership.