NJHMFA to Finance 61-Unit Supportive Housing Development in South Brunswick 

TRENTON, NJ — Henderson Square, Phase 2 has received a commitment for financing from the NJHMFA. Once completed, this South Brunswick development, a two phase, new affordable community, will be home to 177 residents.

Late last year, the first 116-homes welcomed their first residents, bringing affordable and workforce housing units to Middlesex County. The newly financed second phase will add another 61 homes for families and individuals with developmental disabilities.

The latest phase received financing approval at the June meeting for the New Jersey Housing and Mortgage Finance Agency’s Board. The approved financing utilizes the Agency’s innovative funding programs to leverage nearly $12 million in competitive Low-Income Housing Tax Credit generated equity to support this new construction. This project originally sought funding in 2020, but was delayed by the Covid-19 pandemic and associated economic factors. Ultimately, NJHMFA advanced the project by utilizing $2 million from the Affordable Housing Production Fund (AHPF) Program and $1.288 million from the Affordable Housing Gap Subsidy (AHGS) Program to address pandemic related cost increases.

“The financing for this phase of development is a reflection of NJHMFA’s commitment to creating inclusive communities where families of all incomes and abilities can live” said Melanie R. Walter, Executive Director of NJHMFA. “Seeing this project come to fruition at long last is exciting. We are proud of our efforts and those of our partners, especially the Township of South Brunswick, that ultimately made this project possible.”

The new buildings will be located adjacent to the recently completed mixed-income community at Henderson Square (211 Henderson Road) in South Brunswick. They consist of two newly constructed, three-story residential buildings featuring 61 affordable apartments for families and individuals with special needs.

The apartments will range in size from approximately 600 to 1,150 square feet and feature open floor plans, modern kitchens, and ENERGY STAR®-certified appliances. Residents will also have access to an onsite community room and supportive services designed to promote community engagement, resident well-being, and long-term housing stability.

The development will include 12 one-bedroom, 33 two-bedroom, and 16 three-bedroom apartments. Sixteen units will be reserved for individuals with developmental disabilities. Of the remaining affordable apartments, five will be available to households earning up to 30 percent of the Area Median Income (AMI), 12 will be affordable to households earning up to 50 percent of AMI, and 27 will be affordable to households earning up to 60 percent of AMI.

The project previously received an allocation of 9% Low-Income Housing Tax Credits (LIHTCs) through NJHMFA's 2020 Supportive Housing Cycle, providing a critical financing resource to advance the development of affordable housing for families and individuals with special needs.

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: njhousing.gov