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DCA AWARDS BALANCED HOUSING FUNDS TO CITY OF ELIZABETH
Program provides rental and homeownership opportunities for New Jersey’s families

TRENTON, N.J. – The Department of Community Affairs’ Commissioner Susan Bass Levin today announced the award of $561,120 in Balanced Housing Program Funds to the City of Elizabeth. The funds will go towards the construction of a new 12 unit rental project.

“This project is another example of Governor Corzine’s continued commitment to create or preserve 100,000 units of affordable housing in the next ten years,” said Commissioner Levin. “Thanks to the cooperation of the City of Elizabeth, we are now able to provide 12 more quality, affordable housing units for low and moderate income families.”

The 12 unit project will be located at 818 East Jersey Street in Elizabeth. Gross rent for all 12 units will be $586. Six units will be 614 square feet and six will be 628 square feet. The developer of this project is Magill Real Estate Holdings, LLC.

“We are grateful to DCA for these generous funds that will provide for additional affordable housing in our city,” said City of Elizabeth Mayor Chris Bollwage. “With programs such as Balanced Housing and great community partners, we continue developing affordable housing and improving the quality of life for our residents.”

The Balanced Housing Program creates housing opportunities in viable neighborhoods for low and moderate income families. Through this program, developers and non-profit organizations partner with communities to provide rental and homeownership opportunities for New Jersey’s families. Funding is provided by the Department of Community Affairs’ Division of Housing.

More information on the Balanced Housing Program can be obtained by calling 609-633-6258, or by going online at www.nj.gov/dca/dh/bh/index.shtml.