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Friday, June 22, 2012

New Jersey Township Increases Affordable Housing

Mount Olive Township
Mount Olive, New Jersey Mayor Robert Greenbaum announced the township's plan to purchase a former nursing home and convert it into housing for low- and moderate-income families.

The former Cobblestone Health Care Facility has been closed since 2008 and is in a state of disrepair. By purchasing the facility, the township will not only be eliminating a deteriorated building from the neighborhood but also providing 20 more affordable housing units for low- and moderate-income families.

Funding for the project comes from the township's housing trust fund and is part of a New Jersey state effort to increase low income housing. The New Jersey Housing and Community Resources department provides funding to assist in the development of affordable rental and for-sale housing throughout New Jersey communities. Funding is provided through the U.S. Department of Housing and Urban Development.

Homeless Solutions, an agency who builds affordable housing, will construct the rental units. The size of the apartments has not yet been determined, but the project is estimated to be completed in three years.

For more information, visit www.mtolivetwp.org/




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