The Divison of Real Estate is responsible for carrying out JCECDC's mission of providing quality affordable housing opportunities to folks priced out of the private market.
August 2010- JCECDC meets the NSP obligation deadline with our activity over the past months. This effort has guaranteed that over $922,000 in funding will not be recaptured and invested in Jersey City neighborhoods. This funding was obligated in a 7 month period.
August 2010- JCECDC launches a Facebook page. “Like” us on Facebook to receive regular updates on our housing programs, news on affordable housing industry issues and housing opportunities outside of JCECDC.
August 2010- JCECDC has open enrollment for our September 13th First Time Home Buyer class. To register contact Abell@jcecdc.org
August 2010- Construction at 167 Monticello Avenue is 75% complete (link to webpage with construction progress pictures). We still have units available. For more information or to download an application visit: www.jcecdc.org/167
August 2010- In partnership with the Jersey City Redevelopment Agency, JCECDC submitted a request for a planning grant from the NJ Department of Community Affairs’ Neighborhood Revitalization Tax Credit Program. This plan will help foster the revitalization of the Martin Luther King Neighborhood through a comprehensive strategy, which will be driven by residents and other public and private stakeholder. We expect news on awards in September.
July 2010- JCECDC receives a commitment for operation support from the Local Initiatives Support Corporation helping us bridge the gap due to the loss of OHA funding
July 2010- JCECDC is nominated by the Corporation for Supportive Housing and the Jersey City Division of Community for the “Best Supportive Housing” award at the 2010 Governor’s Housing and Community Development Conference
July 2010- JCECDC submitted a proposal under Bank of America’s Neighborhood Excellence Initiative for $200,000 over a 2 year period. This funding would help sustain current operations and an expansion for additional staff to increase our Real Estate activities.
July 2010- JCECDC acquires the 3rd Neighborhood Stabilization Program (NSP) home at 62 Stegman Street and enters into contract for sale with an eligible buyer within 2 weeks of acquisition. We still have units available. To learn more and download an application visit: www.jcecdc.org/nsp
July 2010- JCECDC submits an application for predevelopment financing from the Local Initiatives Support Corporation for professional services associated with the rehab of 242 Bergen Avenue
June 2010- JCECDC completes the rehab and closes on the sale of the 1st two NSP homes in the State of New Jersey. 52 Jewett Avenue and 133 Clerk Street where sold for $245,000 each to middle income households over 100% of the Area Median Income, helping attract higher income buyers to the neighborhood.
June 2010- JCECDC commences the marketing for the Van Brunt Homes (34-40 Van Nonstrand Avenue and 15-17 Oak Street) and enters into contract with 2 eligible buyers within 3 weeks of launching this effort. We still have units available, for more information or to download an application visit: www.jcecdc.org/vb
June 2010- JCECDC completes our 2nd First Time Home Buyer class with 25 graduates. Two graduates purchased homes from JCECDC.
June 2010- JCECDC closes on $650,000 in construction financing with NJ Community Capital for the construction of 167 Monticello Avenue.
May 2010- JCECDC executes contract for construction services at the Van Brunt Homes and applies for building permits. We expect to commence construction in September.
May 2010- JCECDC receives a$120,000 recommendation for funding under the CDBG program for capital improvements at 69 Storms Avenue. This money will be used to improve kitchens, bathrooms and common areas
May 2010-JCECDC receives a recommendation for $1.3M in HOME Program funding from the City of Jersey City for the rehabilitation of 242 Bergen Avenue. This property has been vacant for many years, serving as a blighting factor to the community. JCECDC will redevelop it to provide 13 units of mixed income housing
May 2010- Our Real Estate Director is invited as the Key Note Speaker for the Wachovia/NJDCA Housing Scholars Program kick off event. John was a 1999 Housing Scholar.
April 2010- JCECDC acquires 133 Clerk Street under the NSP Program
March 2010- JCECDC acquires 52 Jewett Avenue under the NSP Program
What We Do
1. Home ownership opportunities for moderate and middle income first time home buyers. This includes the new construction of two family homes and condominiums and the acquisition, rehab of two family homes for resale.
2. Permanent supportive rental housing of people and families with special needs. This includes multifamily building and congregate living facilities.
3. Multifamily rental housing opportunities for low and moderate income households, including seniors.
4. Mixed use development to help revitalize Jersey City’s retail corridors.
For more information, please contact us by email, or call us at 201-209-9301
