Pipeline Projects
Communities First Initiative is joining forces with partners on an array of housing projects nearing construction start. The following projects, currently in pre-development stages, underscore our proactive approach to building vibrant communities. As a committed partner, CFI will hold ownership roles in these projects, with closings anticipated between 2023 and 2024. The majority of these initiatives are either in the process of applying for, or are scheduled to apply for, Low Income Housing Tax Credits.
The Place at East Windsor
New Construction
In East Windsor, NJ, we are embarking on a venture to establish 56 affordable housing units, including five units for homeless families. Supported by New Jersey Housing and Mortgage Finance Agency (NJHMFA) financing, which includes Special Needs Housing Trust Fund (SNHTF), Multifamily Gap Financing, and 4% Tax Credits, this family-centric project is designed to make a meaningful difference.
Heritage Village at Wall
New Construction
Located in Wall, NJ, this project involves the devel-opment of 84 age-restricted affordable housing units. The initiative includes 5 units for homeless families and individuals, as well as 5 units for disabled and homeless veterans. With NJHMFA financing bolstered by Special Needs Housing Subsidy Loan Program (SNHSLP), Affordable Housing Production Fund (AHPF), and awarded 9% Tax Credits, this senior-focused endeavor exemplifies our dedication to comprehensive support.
Heritage Village at Wall II
New Construction
Building upon the success of the previous ven-ture, this project aims to create 67 age-restricted affordable housing units in Wall, NJ. Mirroring the model of including units for vulnerable popula-tions, it features five units for homeless families and individuals, along with five units for disabled and homeless veterans. Supported by NJHMFA financing, including SNHTF, AHPF, and 4% Tax Credits, this senior-centric endeavor continues our commitment to holistic well-being.
Heritage Village at Manalapan
New Construction
This significant undertaking entails the dev-el-opment of 102 affordable housing units in Manalapan, NJ. The project includes eight units for homeless families and individuals, along with five units designated for victims of domestic violence. Supported by NJHMFA financing enriched by SNHTF, Affordable Housing Production Fund (AHPFSA), and awarded 9% Tax Credits, this family-focused initiative highlights our dedication to address-ing crucial needs.
Heritage Village at Moorestown
New Construction
n Moorestown, NJ, we’re embarking on a venture to establish 82 age-restricted affordable housing units. As in our other projects, we’re including units for homeless families and individuals, as well as units for disabled and homeless veterans. Supported by NJHMFA financing including SNHTF, AHPF, and 4% Tax Credits, this endeavor aligns with our commitment to enhancing senior living.
Onora Vet-B-Well
Rehabilitation
This innovative project involves rehabilitating an existing structure in Ocean Township, NJ, to create 16 studio units for low-income women veterans at-risk of homelessness. Dubbed Onora Vet B-Well, the endeavor aims to provide personalized, enriched services tailored to residents’ needs. This senior-fo-cused initiative reflects our dedi-cation to serving those who have served our nation.