MILLSTONE – The administration of Gov. Phil Murphy has announced the award of $1.25 million to the nonprofit Affordable Housing Alliance Inc., which will build 10 affordable housing senior rental units in Millstone Township through the Affordable Housing Trust Fund (AHTF).
The fund, which was restored as part of Murphy’s Fiscal Year 2020 budget, is administered by the New Jersey Department of Community Affairs (DCA) and allows for the development of different types of affordable housing projects, according to a Dec. 16 press release from the DCA.
The Allen House 2 project will receive $1.25 million for the construction of a building containing 10 affordable senior rental units at 471 Stagecoach Road in Millstone Township.
The AHTF awards were given statewide to smaller rental and home ownership housing projects sized at 25 or fewer units, which often have difficulty obtaining financing, according to the press release.
Project funding was based on several core principles, including advancing equity in addressing housing needs, encouraging leverage of other public and private resources, and allowing a flexible structure for funds to be used to complete projects, according to the press release.
“Millstone Township’s actions with regard to helping those in need speak louder than words … we are proud to strive and work hard to meet affordable housing needs as per the state mandate,” Mayor Fiore J. Masci was quoted as saying in the press release.
“Whenever a home is sold in Millstone or anywhere in New Jersey, a portion of the realty transfer fee is deposited into the Affordable Housing Trust Fund,” said state Sen. Sam Thompson (R-Monmouth), whose legislative district includes Millstone Township.
“I am glad to see $1.25 million of these funds returning to Millstone to support the construction of affordable rental units for our seniors,” Thompson said.
According to the DCA, selected projects demonstrated 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 to the award in Millstone Township, the Murphy Administration announced the award of more than $19 million to housing organizations throughout the state through the Affordable Housing Trust Fund, according to the press release.