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Jersey City, NJ – On Monday March 10, 2014 at 9:30am, Garden State Episcopal Community Development Coporation (GSECDC) will celebrate the completion of construction of 291-297 Halladay Street, consisting of four (4) two-family homes in the Morris Canal neighborhood of Jersey City. The program will include Mayor Steven Fulop, Ward F Councilwoman Diane Coleman, representatives from the US Department of Housing and Urban Development, TD Bank and the Morris Canal CDC other partners. This project was built on vacant lots which were eyesores to the neighborhood for many years. The completion of the project is also being dedicated to Benjamin & Queen Esther Thomas, life-long residents of the Morris Canal section, one of the first African American business owners in Jersey City and the first African American woman to run for office in the State of New Jersey.
To date, GSECDC has built 240 units of affordable housing by redeveloping 93 scattered sites throughout Jersey City. This included an investment of close to $40 million from the public and private sector to help revitalize neighborhoods and provide affordable housing in one of the State’s most expensive housign markets. This effort now provides safe and quality housing to close to 650 Jersey City residents.
The homes are being sold to eligible low to moderate income buyers. Each home features a three bedroom unit for buyers and also includes three bedroom apartment that will be affordable to low to moderate income renters. The homes average 3400 square feet, stick-built new construction on grade, with garage parking, central air/heating, spacious kitchen/dining/ living room areas, 2 baths and hardwood floors.
The Homes are being developed with the financial support of the Jersey City Department of Housing, Economic Development and Commerce, Division of Community Development with a HOME Investment Patnership Program grant totaling $1,089,000 and a construction loan from TD Bank in the amount of $848,000. This project is affordable to low to moderate income families due to the City’s subsidy contribution and the acquisition of the sites from both the Jersey City Redevelopment Authority at a reduced cost.
Carol Mori, Executive Director for GSECDC stated, “This is GSECDC’s first project in the Morris Canal section of Jersey City. This market is particularly important because it is a magnet for private investment because of proximity to downtown, Liberty State Park and its infrastructure improvements like the lightrail. It is critical to create affordable housing opportunities in this gentrifying market so that low to moderate income families also benefit from its progress.”
The homes are being developed by the GSECDC Division of Housing and Community Development, designed by John C. Inglese Architecture and constructed by Callico Construction. For information about our affordable homes program please contact 201-209-9301 or visit our website at www.GSECDC.org/halladay.