NJHMFA Honored as Statewide Leader by NJBIZ Amidst a Year of Achievements
TRENTON – The New Jersey Housing and Mortgage Finance Agency (NJHMFA) has been honored as a 2023 Leader in Real Estate, Construction, and Design by NJBIZ. This recognition joins many awards the Agency won in 2023 for its work on promoting affordable and mixed-income housing construction and economic development across New Jersey.
This most recent award recognized NJHMFA’s role in making high-quality, accessible, affordable housing construction possible through its financing capacity, innovative programs, and collaborative partnerships. Since 2021, NJHMFA has undergone a record expansion of the Agency’s core multifamily programs, which now produce more than $1.3 billion in annual construction.
“NJHMFA is committed to ensuring that New Jersey residents have access to high-quality affordable housing near the schools, jobs, transportation, services, and other amenities that their households require,” said Executive Director Melanie R. Walter. “We are honored that NJBIZ has recognized our successful efforts to provide these housing opportunities by naming us as a Leader in Real Estate, Construction, and Design for 2023.”
Among the projects that were cited as part of NJBIZ’s recognition are Hinchliffe Residences and Barclay Place. Both projects, which opened in the summer of 2023, are examples of how NJHMFA financing can help municipalities further their planning, growth, and housing goals, while simultaneously creating a thriving inclusive community for all who live there.
Hinchliffe Residences was a key component of the long-awaited redevelopment and revitalization of Hinchliffe Stadium in Paterson. Hinchliffe Residences reflects and embraces the unique architecture and history of the adjacent Hinchliffe Stadium, one of the only four standing stadiums that once hosted Negro League baseball games. This development seamlessly integrates historical essence with modern planning elements, including affordable senior housing, a daycare, and a new parking deck. The project is the state’s largest-ever historic preservation project and a key piece of the city’s future. The Hinchliffe redevelopment has received a 2023 Smart Growth Award from NJ Future, the 2023 Outstanding Implementation Award from the New Jersey Chapter of the American Planning Association, and the 2023 Governor’s Excellence Award for Innovative Economic Development.
The Barclay Place development is the first completed project financed through the NJHMFA’s Hospital Partnership Subsidy Program. This program, serves as a national model, with other states now replicating the way NJHMFA leverages hospitals’ status as anchor institutions to improve community health outcomes through the creation of affordable and supportive housing. NJHMFA, Saint Joseph University Medical Center, NJCDC, NJCC, and other partners received a 2023 Smart Growth Award from NJ Future, the 2023 Project of the Year Award from the Supportive Housing Association of New Jersey, and the 2023 Governor’s Excellence Award for Housing Development for this remarkable supportive housing community.
Other projects that have received recognition in 2023 include the Gordon H. Mansfield Veteran’s Community in Tinton Falls, NJ, a 70-unit community for military veterans that won the NAA Excellence Award for New Construction Community of the Year; One Thompson Place in Dover, which received a 2023 Smart Growth Award; and Freedom Village at Hamilton Woods, which was cited as part of the NJBIZ award. Other landmark projects in the development pipeline include Hospital Partnership Subsidy Program projects in Newark and Camden, and 28 Walnut in Madison, which was among the first projects to receive Affordable Housing Production Fund Support.
About Us: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs. To learn more about NJHMFA, visit: https://NJHousing.gov/
