The Willow will have 36 affordable units for seniors. Photo courtesy of City of Hoboken.
As we welcome the summer heat, Hudson County welcomes an affordable housing first mindset–read about this and more in this month’s Jersey Escrow: where all your housing information is stored.
Housing Opportunities To Apply To This Month
Habitat for Humanity Cape May County is offering two three-bedroom single family homes for low and moderate income families. Households of three to six people are welcome to apply until June 8th. The lottery selection will take place on June 15.
These are the income requirements to apply:
- Household of three: $46,250 to 74,000 a year
- Household of four: $51,350 to $82,160 a year
- Household of five: $55,500 to $88,800 a year
- Household of six: 59,600 to $95,360 a year
Applications will be accepted by mail. You can download the application and read more information here.
Affordable Homes New Jersey is offering multiple units across Ocean, Bergen, Burlington, Somerset, Monmouth and Middlesex counties. Browse through the listings here.
Hoboken Will Have Fully Affordable Housing For The First Time In 30 Years
The Willow, located at 1033 Willow Avenue, is six stories tall of fully affordable housing, which is a first for the city in 30 years. The building will include 36 units, broken down into three-studio apartments, 28 one-bedrooms and five two-bedroom apartments—specifically designed for residents ages 55 and up.
Nearly 8% of people in Hoboken live in poverty, and 24.7% of that percentage of people are 65 and older.
“Making sure our seniors can continue to live in Hoboken has been a priority, and The Willow shows what is possible when people come together around that goal,” said Mayor Emily Jabbour about the significance of The Willow.
The Willow is expected to be completed in Fall 2027.
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Senate Committee Supports Affordable Housing Development And Update Law
The New Jersey Senate Community and Urban Affairs Committee, which was formed last month, has begun the summer by passing and updating bills to continue progress in affordable housing across the state.
“Whether it’s utilizing state-owned land, supporting affordable housing investments, empowering faith-based organizations, or creating opportunities for homeowners through ADUs, these measures represent meaningful steps toward increasing housing inventory and making New Jersey more affordable,” said Senator Troy Singleton, who leads the committee.
Here are some of the bills passed to support affordable housing development:
- S1803: Expanding financing opportunities for low and moderate income housing
- S3103: Dedicates 50% of profits made from fees and taxes on property transfers that are worth one million dollars for the state’s Affordable Housing Trust Fund
- S4066: Requiring the state to produce a report on under-utitilized state property and on their potential to be used for affordable housing every two years
You can read more about this here.
Small House Construction May Make Homeownership More Attainable
The Affordable Housing Professionals of New Jersey look to the south for accessible homeownership. Compact Cottages in North Carolina build small homes, or popularly known as “tiny houses,” in about a week for a more affordable price tag.
A 349-square foot home can cost about $90,000, $483,000 less than the average price of a home in New Jersey, which is $571,373, according to Zillow.
You can read more about this here.
Resort-Style Living For Low As $791 A Month In Monmouth County
Canter Square in Monmouth County is offering 96 townhomes from $791 to $2,192 a month for very low, low and moderate income families.
Here are the units available for very-low income families:
- 2 1-bedroom units for $791 a month, each
- 8 2-bedroom units for $949 a month, each
- 3 3-bedroom units for $1,096 a month, each
Here are units available for low-income families:
- 4 1-bedroom units for $1,210 a month, each
- 22 2-bedroom units for $1,556 a month, each
- 9 3-bedroom units for $1,798 a month, each
Here are units available for moderate-income families:
- 6 1-bedroom units for $1,476 a month, each
- 30 2-bedroom units for $1,898 a month, each
- 12 3-bedroom units for $2,192 a month, each
The building offers resort-style living with an outdoor and children’s pool, a play area, fitness center and club house. You can read more about the building and how to apply here.
Know any New Jersey housing news or resources we should include? Email Chelsea Pujols at [email protected].
