$2 million in funding granted by the Housing Trust Fund for housing development
Thanks to the generous assistance of $2 million in grants from the Sussex County, New Jersey Housing Trust Fund, several ambitious housing projects are set to transform the country’s landscape. Four esteemed developers have been awarded $500,000 each to collectively construct 156 units of affordable housing across various locations, including a notable project in Lewes.
Among the recipients of the grants is Commonwealth Development Corporation, which intends to build Chapel Branch Apartments in Lewes. This development will feature 42 multifamily units, with 35 units reserved for individuals earning less than 65% of the area median income (AMI), and an additional seven units designated for those making less than 80% of the AMI.
NeighborGood Partners has its sights set on Laurel, where they plan to erect 36 apartments exclusively for residents earning less than 50% of the AMI. These units will primarily cater to individuals working in the agriculture and poultry industries, providing them with quality housing options.
Sussex County Habitat for Humanity will utilize the funding to further its homeownership program, constructing 10 single-family homes across several locations. These homes will be available to residents earning less than 60% of the AMI. The distribution includes one home in Milford, two in Georgetown, two in Seaford, and five in Laurel, all aimed at facilitating affordable homeownership opportunities.
Meanwhile, Leon N. Weiner & Associates has an important preservation and revitalization endeavor in store for Georgetown Apartments. The plan involves renovating the existing 75 units, with 25 apartments designated for individuals earning less than 65% of the AMI, and an additional 50 apartments catering to those earning less than 50% of the AMI.
Brandy Nauman, the director of the county’s community development and housing department, assures that these housing units will be accessible to all eligible county residents, offering a chance for individuals and families to secure affordable and suitable homes.
It’s important to note that the AMI varies depending on the size of the household. For example, a family of four has an AMI of $60,100, while a two-member family has an AMI of $48,100.
Nauman emphasizes the significance of programs like the Housing Trust Fund in meeting the escalating demand for affordable housing. She believes that these funds will play a vital role in providing housing opportunities for the community and address the pressing need for accessible homes.
The Housing Trust Fund, established in 2022 with the aim of bolstering the county’s affordable housing inventory, received an initial funding of $6.8 million, a substantial portion of which originated from the American Rescue Plan Act. This second round of grants follows the previous allocation of $2.5 million in grants during the inaugural round last summer. The program strives to assist individual homebuyers and support developers and organizations dedicated to creating more affordable housing options, ultimately improving the overall housing situation within the county.