JERSEY CITY – Mayor Steven M. Fulop announced on Jan. 6 that plans for the rehabilitation of 131 affordable housing units in downtown are moving forward as the developer has secured financing to begin the renovations. A groundbreaking on the project is expected in the next few weeks.
“At a time when construction is at a record high in Jersey City, we have made sure that the creation of quality, affordable housing is also a priority,” said Mayor Fulop. “By investing in affordable housing, we are investing in the entire community by offering all of our residents first rate affordable housing that complements the ongoing revitalization of neighborhoods throughout Jersey City.”
The rehabilitation of the Brunswick Estates, located on Montgomery Street near Merseles, is made possible through a $2 million grant form the City’s Affordable Housing Trust Fund. The administration and the City Council in June secured the extension of the affordability period for the remaining 17 years of a previously approved PILOT on 131 affordable rental units, following the sale of Brunswick Estates to Roseville Avenue Redevelopment Urban Renewal, who have also partnered with WinnCompanies on the project.
The Fulop administration announced shortly after taking office the city’s first-ever Affordable Housing Trust Fund policy that establishes criteria for and incentivizes the development of affordable housing. A focus for the administration has been the inclusion of onsite affordable housing in downtown and waterfront developments, breaking from past practices that allowed developers to send affordable housing dollars entirely to other neighborhoods of the city.
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