$916K Awarded To Summit For Affordable Housing Project

SUMMIT, NJ — Affordable housing has been top of mind for many Summit council members recently, and an announcement from Gov. Phil Murphy to help fund more affordable housing projects will help the City reach its state-mandated obligation.

Murphy announced Tuesday that through NJ's Affordable Housing Trust Fund, more than $16 million will be awarded to organizations across the state. Morris County Habitat for Humanity, will receive over $916K for its affordable housing project in Summit.

The project at 146 Morris Avenue will consist of constructing 12 condominium units in two buildings. These condos are suitable for two to six-person low or moderate income-earning families.

Both two and three-bedroom condos will be available.

Murphy said he is committed to making housing affordable for individuals and families living in New Jersey in his announcement.

“Today’s Affordable Housing Trust Fund awards announcement demonstrates that we are putting meaningful resources behind our words to help create more than 100 affordable housing units around New Jersey," Murphy said. "We look forward to seeing these projects completed in the near future and to the future affordable housing that is developed as a result of this important trust fund.”

Lieutenant Governor Sheila Oliver, who serves as a Department of Community Affairs Commissioner, said providing affordable housing has an incredibly positive impact on people's lives.

"When a person has stable, quality housing, they are able to take advantage of so many other opportunities,” Oliver said. “This is why I am proud of the work DCA is doing to utilize the Affordable Housing Trust Fund for its intended purpose. Through this fund, we are helping more people gain access to affordable and decent housing, including veterans, minorities, and victims of domestic violence.”

According to Murphy's announcement, the projects selected for awards showed strong municipal support, participation in other state-funded community development initiatives, partnerships with private sector investors, sustainability/resilience, walkability, mixed-use, accessibility and thoughtfulness in addressing gentrification.

In addition, all of the awards were given to smaller homeownership projects sized at 25 or fewer units, which often have difficulty obtaining financing. The projects are also being developed by community-based organizations, like Habitat for Humanity, that have a strong connection to the housing equity issues in their communities.

The Affordable Housing Trust Fund is allocated through the following three funds:

• Municipal Settlement Fund, which helps municipalities create smaller-scale projects that fit into the landscapes of their neighborhoods and helps them fulfill their state-mandated requirements
• Neighborhood Partnerships Fund, which supports the development of affordable housing in Qualified Urban Aid Towns, particularly projects that leverage other existing resources to strengthen their neighborhoods; and
• Innovation Fund, which assists inventive projects that may not fit under the umbrella of the other two funds but that creatively advance the State of New Jersey’s housing goals.

To learn more about the affordable housing project on 146 Morris Ave, visit this page.

Summit's Broad Street West redevelopment project is also set to include affordable housing units.

Read more: Summit Debates Broad Street West Redevelopment At Council Meeting

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