Norcross Announces $3.25M+ Funding Grants for Affordable Housing in South Jersey

150 Low-Income Homes Will Be Built in Cherry Hill & Gibbsboro

CHERRY HILL, NJ – Today, U.S. Congressman Donald Norcross (NJ-01) announced two affordable housing grants, totaling $3.25 million, for South Jersey construction projects to create homes for low-income and high-needs residents. Thanks to the grants, approximately 150 new units are set to be built in Cherry Hill and Gibbsboro.

The two grants come from the Federal Home Loan Bank of New York, through the Affordable Housing Program (AHP), and are detailed below:

• $1.58 million will go to The Jewish Federation of Southern New Jersey for construction costs on their project to build homes for senior citizens and developmentally disabled persons in Cherry Hill.
• $1.67 million will partially finance construction costs for Project Freedom, Inc., as homes are built in Gibbsboro for people who are physically disabled.

“This is incredible news for our Camden County neighbors who need safe and affordable places to call home,” said Congressman Donald Norcross. “I am proud to have supported this federal grant initiative that is helping those who desperately need proper housing and care. These two development projects will strengthen our South Jersey economy and provide a bright future for hundreds of members of our communities.”

“The Jewish Federation of Southern New Jersey is thrilled by this award from the Federal Home Loan Bank of New York,” said Jennifer Weiss, Executive Director of The Jewish Federation of Southern New Jersey.  “The award will provide the project, at 1721 Springdale Road, with critical support for affordable housing for seniors and adults with special needs.  Along with our developer, Pennrose and the support of the Township of Cherry Hill and Camden County, we are excited to bring this needed project for community-based housing and services to fruition.  Thank you for helping to make the dream a reality for our community.”

“The Borough of Gibbsboro and Project Freedom have worked tirelessly to make this Project a reality, and, with this Federal Home Loan Award, the Project can now move forward,” said Tim Doherty, the Executive Director of Project Freedom, Inc. “The beautiful little Boro will have 72 fully integrated affordable housing units that will provide supportive housing for people with developmental and physical disabilities as well as provide housing opportunities for families.  We thank Congressman Norcross for all his support for this much needed project.”

Through the AHP – which was created by Congress in 1989 – the Home Loan Bank devotes 10% of its annual income to affordable housing projects.