NEW BRUNSWICK, N.J. – New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta today joined local officials for the groundbreaking ceremonies of Promise House, an affordable housing community located on Redmond Street in New Brunswick. The HMFA, an affiliate of the New Jersey Department of Community Affairs (DCA), provided approximately $1 million in permanent financing and construction financing for the project from the Special Needs Housing Trust Fund.
“Creating quality affordable housing options for all segments of the population requires partnerships between the communities, non-profit groups and the State,” said Acting Commissioner Richard E. Constable, III, who is Chair of the HMFA. “We are extremely proud to be involved in the Promise House project, which will provide a comfortable place for residents to call home and will offer a new resource for the greater New Brunswick community once completed.”
Promise House will consist of a two-story building with seven studio units and three one-bedroom units, all of which will be dedicated for people who are at risk or experiencing homelessness and who have special needs. Four of the units will be ADA-compliant.
“I am immensely pleased the HMFA was able to be a part of Promise House, which would not have broken ground without the hard work, persistence and commitment of the development team,” said HMFA Executive Director Anthony L. Marchetta. “Without a doubt, this project will present a better housing experience for individuals of low income and with special needs so they may live with dignity in their community.”
The Special Needs Housing Trust Fund is administered by the HMFA and provides capital financing to create affordable, permanent supportive housing and community residences for individuals with special needs, with priority given to individuals with mental illness. The purpose of the fund is to develop special needs housing and residential opportunities as alternatives to institutionalization or homelessness for those who would benefit from these programs and to ensure the long-term viability of such housing.
Triple C Housing, which is the developer and social service provider for Promise House, is a private, non-profit corporation that provides housing and support services to people with disabilities. Triple C was incorporated in 1979 and their mission is to improve the quality of life of people with mental illness by enlisting the private and public sectors in their rehabilitation and recovery and assisting them to live with dignity, freedom and choice in their communities.
The HMFA’s Special Needs Housing Trust Fund has provided funding for several housing projects with Triple C. Since 2006, Triple C has completed four other projects with a total of 27 units to provide permanent supportive housing to individuals with mental illness.
For more information on HMFA programs, please call 1-800-NJHOUSE or (609) 278-7400, or log on to www.nj.gov/dca/hmfa.