Linden Street- Salem
New Construction of Six (6) Homes
$4.7M Total Development Costs
Development partnership with The Authority to redevelop 11 vacant properties
Status of Project:
Executed agreement of sale with City of Salem
Completed predevelopment work and schematic design
Secured preliminary construction financing
Zoning approval expected September 2024
Construction start Spring 2025
Casas del Rio- Camden
New Construction of 13 Homes
$9.2M Total Development Costs
Sponsored by Camden Lutheran Housing Inc., financial consulting and project managing by Restrepo & Associates
Status of Project:
Executed agreement to purchase 78 vacant lots from the City of Camden
Secured $6M commitment from the New Jersey Department of Community Affairs (NJDCA) Affordable Housing Trust Fund (AHTF)
Secured preliminary construction financing
Completed all predevelopment work and schematic design
Zoning approval expected September 2024
Construction start Spring 2025
Part of Neighborhood Revitalization Tax Credit Program (NRTC)
TAPinto Camden - New Townhouses Planned for N. 10th Street in North Camden
Spruce Fields- Bridgeton
New Construction of Five (5) Homes
$3.5M Total Development Costs
Sponsored by Gateway Community Action Partnership, financial consulting and project managing by Restrepo & Associates
Status of Project:
Purchased 7 private parcels completed
Predevelopment development and zoning approval secured
Secured $2M subsidy from New Jersey Department of Community Affairs (NJDCA) Affordable Housing Trust Fund (AHTF)
Secured preliminary construction financing
Construction start Fall 2024
Esperanza Homes- New Brunswick
Rehabilitation of Two (2) Homes
$2.5M Total Development Costs
Sponsored by New Brunswick Tomorrow, financial consulting and project managing by Restrepo & Associates
Status of Project:
Acquired single family home at 54 Drift and 270 Powers
Gut rehabilitation with all new systems including fire suppression and HVAC system
Secured $1M revolving line of credit
Secured $2M in subsidy from the New Jersey Department of Community Affairs (NJDCA) Affordable Housing Trust Fund (AHTF)
Currently under construction
543 State Street- Camden
Adaptive Reuse of Historical Site for 22 New Residential Units
$9.7M Total Development Costs
Developed by Camden Lutheran Housing, Inc.; financial consulting and project management by Restrepo & Associates
Status of Project:
CHLI purchased property for $199,000 in June 2024; property appraised for $650,000
Proposed use includes 17 family units, 4,000 square feet of commercial space, and conversion of the rectory into 5 units of permeant supportive housing
Secured $500,000 revolving line of credit from New Jersey Community Capital for acquisition
Currently completing predevelopment for zoning application submission by end of 2024
Construction start Fall 2025
Part of Neighborhood Revitalization Tax Credit Program (NRTC)
Harmony House- Jersey City
New Construction of Mixed Use Building With 44 Residential Units
$14.5M Total Development Costs
Developed by Northern United International Corp., financial structuring and subsidy application by Restrepo & Associates
Status of Project:
Secured $2.9M commitment from the Jersey City Affordable Housing Trust Fund
Located within the boundaries of the Jackson Hill Redevelopment Plan
Developer secured designation from Jersey City Redevelopment Agency
Part of the I Love Greenville Jersey City Community Plan
104 and 110 Amherst Ave- East Orange
New Construction of Five (5) Rental Units on Two (2) Sites
$3.2M Total Development Costs
Sponsored by East Orange Housing and Community Development Corporation, financial consulting and project managing by Restrepo & Associates
Status of Project:
Sponsor has site control
Secured $1.4M in private financing for acquisition, predevelopment, and construction
Completed design and predevelopment work
Zoning approval expected by end of year 2024
