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$1.55 Million to Create Jobs and Affordable Housing in South Jersey

 

Camden, NJ—Today, Congressman Andrews announced two grants totaling $1.55 million from the Federal Home Loan Bank of New York that will create over 50 jobs in South Jersey. The grants fund two major projects: the construction of affordable housing for the developmentally disabled in Woolwich by the Center for Family Services and the renovation of the Independence Village apartment complex into affordable housing in Camden by Life Management, Inc. 

Woolwich’s Monroe Special Needs Housing Project will be designed as a two-story apartment building with elevator service, on-site parking for wheelchair accessible vehicles, and extra-wide corridors and doors.  The project property has been donated to the sponsor and will meet Energy Star Certificate standards.   
                                                   
The Independence Village project will reconfigure the 240 existing apartments units into 148 units, making room for three-bedroom apartments with new amenities. As the site is located in a historic district, the rehabilitation will consist of minimal but necessary repairs to the exterior.  This renovation will help to stabilize a neighborhood that offers access to retail plazas, schools, and public transportation. 

“While these grants provide supportive housing for those who need it in Woolwich and provide for a safer community in Camden, they will also offer some much needed construction jobs,” said Congressman Andrews. “These investments take us one step closer to economic recovery.”

These grants are part of $33.6 million in Affordable Housing Program (AHP) subsidies that the Federal Home Loan Bank of New York will award for 2011. In total, these grants will finance 57 housing projects to create or preserve 2,837 units of affordable housing in New Jersey, New York, Maryland, and Pennsylvania, many of which are designed for seniors, the disabled, homeless families, first-time homeowners, and others with limited resources. The Federal Home Loan Banks have distributed $4.3 billion in Affordable Housing Program funds since the program was created by Congress in 1989. 

 

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