fhlbny

Allen House Groundbreaking

Allen House Groundbreaking @AHA_housingall Ten affordable senior housing units @HUDNY_NJ @neighborworks #Millstone

Affordable Housing Alliance
Breaks Ground for Ten Senior Units

On October 23, 2014, the Affordable Housing Alliance (AHA) held the groundbreaking ceremony for Allen House in Millstone Township.

This ten unit senior apartment complex, housing seniors 62 and over, is fully subsidized and located on a four acre, lakeside property. The success of this project is due to collaboration among:

  1. Two Rivers…

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Vantage Ribbon Cutting

Friends and Supporters gather for grand opening
Photos of the project are online

On January 24, 2012, a warm and sunny day, Vantage Health Systems was joined by friends and supporters for the Ribbon Cutting Ceremony of the Van Sciver Supportive Housing Residence. With over seven years devoted to the project, Victoria Sidrow, CEO of Vantage, discribed the project as a labor of love!

The project entailed new construction of sixteen (16) modualr efficiency apartments on Van Sciver Street, Closter, NJ. The target population of the project is low income individuals with mental illness, including the chronically homeless. The project will be a two story building that will include ample on-site parking, landscaped grounds, and offices for service and property staff. The development will include elevator service, common areas, and common laundry facilities. Every unit will have a private kitchen and bathroom. The development will offer efficiency units equipped with such market rate amenities as modern appliances, hard wood flooring, window blinds, ample closet space, security and emergency call features, and hardwiring for cable TV and internet access. The building will also be Energystar and Silver LEED Certified.

Development team members include:

  1. Vantage Health System, Developer, Manager, and Service Provider,
  2. Monarch Housing Associates, Housing Consultant,
  3. The Corporation for Supportive Housing, predevelopment financing and technical assistance,
  4. Kitchen and Associates, Architects,
  5. Integrity Build, LLC., Contractor, and
  6. Haven Homes, Modular Manufacturer.

The capital funding sources for the project include:

Rental Subsidies have been provided for 8 units through the New Jersey SRAP program. Rental subsidies for an additional 8 units will be provided through the Bergen County Continuum of Care Shelter + Care program.

Click here to view and comment on the photos on our Facebook page.

This is a slide show from the event.

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Original Article

FHLBNY awards $13.9 million to 24 NJ projects

969 units receive AHP subsidy in NJ

To view the list of NJ projects click here.

To view all of the projects click here.

The Federal Home Loan Bank of New York (FHLBNY) approved fifteen New Jersey Affordable Housing Program (AHP) projects totaling $13,927,764 for a total of nine hundred and sixty-nine (969) units of affordable and supportive housing.

The New Jersey awards were part of a larger allocation of sixty-two projects (62) totaling $32,582,619 for at total of two thousand eight hundred thirteen (2,813) units.

Four projects including one in New Jersey are the alteranteive list.

New Jersey’s funding comprised thirty-four (34%) percent of all of the units and forty-three (43%) of the total funding.

The average per unit funding for all of the awards was $11,582.87.

The average per unit funding for the awards for New Jersey projects was $14,373.34.

If an application you submitted does not appear on the list and you wish to receive advice about how to improve an application for resubmission in our next round, feel free to respond to this e-mail at ahp@fhlbny.com to request a copy of your project’s scoring worksheet. In your request, please include the name of the project, the name of the project sponsor and the name of the member that submitted the application on the sponsor’s behalf. A member of our staff will reply with a copy of the worksheet and application advice by February 1, 2011. We would appreciate it if you would communicate with e-mails to ahp@fhlbny.com rather than calling or e-mailing members of the staff directly so that we can allocate our resources efficiently in handling your request.

Congratulations to the recipients of these important funds!

Original Article

New Post has been published on Monarch Housing Associates

New Post has been published on http://monarchhousing.org/2012/10/17/fhlbny-awards-13-projects-in-nj-for-7-8-million/

FHLBNY Awards 13 projects in NJ for $7.8M

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Total Awards $26.4 Million for 37 Affordable Housing Initiatives

The Federal Home Loan Bank of New York (FHLBNY) approved thirteen (13) New Jersey Affordable Housing Program (AHP) projects totaling $7,868,453 for a total of seven hundred and sixty-one (761) units of affordable and supportive housing in the 2012 round. Click here to view the list of projects approved.

Alfred A. DelliBovi, president and CEO of the Federal Home Loan Bank of New York, announced that the Bank has awarded $26.4 million in subsidies to fund 37 affordable housing initiatives throughout New Jersey, New York and Pennsylvania. These awards are funded through the Bank’s Affordable Housing Program (“AHP”), and will result in the creation or preservation of 2,679 affordable housing units, including more than 2,000 units dedicated to very low-income housing and more than 2,500 units of affordable rental housing. The awards will not only help provide housing, but also drive community development: it is anticipated that more than $428 million in development costs will be generated from the development of these initiatives.

“Housing is a cornerstone of our economy, a key driver of economic development and job growth, and the foundation of strong families and vibrant communities,” said Mr. DelliBovi. “The Federal Home Loan Bank of New York is proud to support affordable housing initiatives across our region and beyond. We thank all of our partners – the local lenders, the housing groups and our elected officials – for their continued support of the Affordable Housing Program. When we strive to ensure that all have access to affordable housing, we strengthen the fabric of our society.”

Congratulations to the recipients of these important funds!

To read the full press release click here.

To view all of the projects approved in NJ, NY and Pennsylvania click here.

FHLBNY awards $11.3 million to 17 NJ projects

769 units receive AHP subsidy in NJ
2012A Applications due on April 6th

The Federal Home Loan Bank of New York (FHLBNY) approved seventeen (17) New Jersey Affordable Housing Program (AHP) projects totaling $11,366,367 for a total of seven hundred and sixty-nine (769) units of affordable and supportive housing in the 2011A round.

To view the list of NJ projects click here.

To view all of the projects click here.

The New Jersey awards were part of a larger allocation of fifty-seven projects (57) totaling $33,662,195 for at total of two thousand eight hundred thirty-seven (2,837) units.

Four projects including two in New Jersey are on the alternative list.

New Jersey’s funding comprised twenty-seven (27%) percent of all of the units and thirty-four (34%) of the total funding.

The average per unit funding for all of the awards was $11,865.42.

The average per unit funding for the awards for New Jersey projects was $14,780.71.

The FHLBNY in their announcement stated:

If an application you submitted does not appear on the list and you wish to receive advice about how to improve an application for resubmission in our next round, feel free to respond to this e-mail to request a copy of your project’s scoring worksheet.  In your request, please include the name of the project, the name of the project sponsor and the name of the member that submitted the application on the sponsor’s behalf.  A member of our staff will reply with a copy of the worksheet and application advice by February 17, 2012.  We would appreciate it if you would communicate with this e-mail to rather than calling or e-mailing members of the staff directly so that we can allocate our resources efficiently in handling your request.

Please note that the 2012A application package will be posted on or about February 3, 2012 on the Bank’s website.   Applications that will be submitted in an electronic format must be delivered to the FHLB-NY by 5:00 PM on Friday, April 6, 2012 while paper applications must be physically delivered to the FHLB-NY by 5:00 PM on Tuesday, April 3, 2012. Note that the scoring parameters in the 2012 round are the same as the 2011 round, but there will be some changes in the required information.

Congratulations to the recipients of these important funds!

Original Article

CPNJ Cuts Ribbon for West Orange Residence

Section 811 supportive housing opens on June 29th
Photos of the ribbon cutting are online

On June 29, 2011, Cerebral Palsy of North Jersey, Inc. (CPNJ) cut the ribbon to open the West Orange Residence, a supportive housing project in a renovated four bedroom ranch home. All of the residents will be referred by the New Jersey Division of Developmental Disabilities.

The home was built so as to promote the community residential living of persons with developmental disabilities and will promote exceptional living for persons who utilize wheelchairs for ambulation and mobility. The ranch style home is located on a cul-de-sac in a quiet residential neighborhood. The home originally had three bedrooms, two full and one half bathrooms, a living room, dining room, family room, kitchen, den and a large deck in the back of the house. The renovation added an accessible bedroom, a handicapped-accessible kitchen and two new handicapped –accessible bathrooms.

Funding sources included:

Among the professional staff were:

Monarch Housing served as the development and financing consultant.
Click here to view and comment on the photos on our Facebook page.

These are photos from the event.

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Original Article