FAIR SHARE HOUSING CENTER APPLAUDS GOVERNOR MURPHY’S HISTORIC $300 MILLION INVESTMENT IN AFFORDABLE HOMES IN HIS FY23 PROPOSED BUDGET

Today, in response to Governor Murphy’s Fiscal Year 23 Budget Proposal that allocates $300 million from the American Rescue Plan towards the development of affordable homes, Fair Share Housing Center’s Executive Director, Adam Gordon, issued the follow statement:

“Fair Share Housing Center applauds Governor Murphy and Lieutenant Governor Oliver for making a historic investment in affordable housing in his Fiscal Year 23 budget proposal. $300 million will go a long way in supporting the backlog of much-needed affordable homes. We commend Governor Murphy’s commitment to creating over 3,000 homes with this funding.

New Jersey is facing an affordability crisis that impacts all residents, but especially communities of color. As sale and rental prices climb, access to affordable homes—especially for our most vulnerable residents—is at risk. New Jersey has some of the worst racial disparities in the country, across almost all indicators of health and well-being, including being home to one of the worst Black-white racial wealth gaps in the nation.

Access to safe, healthy, and affordable housing is critical to ensuring that all New Jerseyans are able to thrive in our state. We must leverage state and federal dollars to create meaningful and transformational chance to address housing inequities and affordability in our state. Investments like the one proposed today will help New Jersey address systemic racism, segregated housing markets, and historic disinvestment in communities of color.

While the Mount Laurel Doctrine requires all towns in New Jersey to provide their “fair share” of affordable housing, there is still a backlog of projects waiting for funding to move forward. The $300 million proposed today will help make these projects possible. Some critically needed investments that we hope this new funding can help make a reality include:

•  75 affordable family apartments being developed two blocks from the train station in downtown Millburn, Essex County, which will be the largest affordable housing development ever built in Millburn’s history.
• 101 affordable apartments for seniors being developed in Union City, which will provide much needed homes in a city facing significant gentrification pressures.
• 84 affordable homes in Harrison Township, Gloucester County, being developed by Project Freedom near the new Inspira hospital and Rowan University. 21 of the homes will be reserved for people with disabilities, and all 84 of the homes will use barrier free construction to allow accessibility for people with disabilities.

We look forward to this additional $300 million being part of a comprehensive budget strategy including fully funding the state Affordable Housing Trust Fund for producing and preserving affordable homes and making critical investments in foreclosure prevention and civil rights enforcement.

Investments in affordable housing are essential to improve our residents’ individual health and well-being as well as the collective health of our state. Today’s proposed investment will make a significant impact on the deep shortage of affordable homes in New Jersey. FSHC is committed to working with Governor Murphy and the New Jersey Legislature to push this historic investment forward in the budget process.”