32° and Partly Cloudy
Affordable Housing Trust Fund Exceeds $100 Million in NJ Awards
The statewide initiative supports 939 affordable housing units through partnerships with nonprofits and developers
The New Jersey Department of Community Affairs (DCA) announced that the Affordable Housing Trust Fund (AHTF) has awarded over $108 million in funding since Governor Murphy took office, supporting 44 projects that will create or preserve 939 affordable housing units across New Jersey. Administered by the DCA, the AHTF aims to expand affordable housing options through financing for projects led by nonprofits and developers.
AHTF awards prioritize small-scale projects, particularly rental and homeownership units with 25 or fewer residences, to address financing challenges for smaller community-driven developments. The fund’s awards require all projects to maintain affordability for a minimum of 20 years.
“Without safe, stable, affordable housing, people can become caught in a recurring cycle of housing insecurity that affects their ability to hold a job, go to school, provide food, and maintain their health. These challenges can begin to feel insurmountable,” said DCA Commissioner Jacquelyn A. Suárez. “Through the Affordable Housing Trust Fund, we are making headway in addressing this critical need so that our fellow New Jerseyans can achieve healthy, high-quality, and productive lives.”
The funding is distributed through three programs:
- Municipal Settlement Fund: Supports municipalities in creating projects to meet affordable housing settlement requirements.
- Neighborhood Partnership Fund: Finances affordable housing in Qualified Urban Aid Towns to enhance local community resources.
- Innovation Fund: Backs unique projects that align with New Jersey’s housing goals but fall outside conventional funding categories.
Among recent award recipients are organizations like Habitat for Humanity, providing affordable homeownership in towns such as Bordentown and East Orange, and the Urban League of Essex County, developing affordable for-sale homes with rental units in Newark. Additional projects, including Camden Lutheran Housing’s "Casa Del Rios" and Parkers Walk Urban Renewal in Elizabeth, provide affordable units in areas historically challenged by housing access and affordability.
“Each of these Affordable Housing Trust Fund projects has been meticulously designed to suit the needs of New Jerseyans across the state,” said Governor Phil Murphy. “We are grateful for the partnership of the Department of Community Affairs, as well as the nonprofits and developers helping us build stronger, fairer communities and putting the American Dream back into reach for generations of working families.”
The Affordable Housing Trust Fund has awarded funding to several projects in Morris County, supporting initiatives focused on affordable homeownership and rental options:
- Morris Habitat for Humanity - Valley View Drive Rockaway Affordable Homeownership: This project in Rockaway Township will create two single-family homes designated for affordable homeownership. It received $464,683 from the Municipal Settlement Fund.
- Pillar Wharton, Inc. - Wharton Housing: This project in Wharton will construct an 11-unit multifamily apartment building for affordable rentals. It was awarded $3,655,360 from the Municipal Settlement Fund.
These projects reflect the fund’s commitment to supporting smaller-scale, community-focused developments aimed at increasing affordable housing options in Morris County.
