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Development Portfolio
Portside
Commons
Third Street, Elizabeth, New Jersey| Rental Information
Phase
I of the HOPE VI Program providing 72 affordable rental
units. Unit
types ranging from one to four bedrooms per unit. Three-
and four- bedroom units have private backyards.
Construction was completed in 2001.
Former
residents of Migliore Manor or Pioneer Homes occupy
57 of the units.
Continued development of HOPE VI and LIHTC programs merging private and public funds to create a model community. This results in re-densifying the area and transforming public housing into an energy efficient, modern and privately managed housing facility.
Financing
was provided by:
- 9%
Federal Low-Income Housing Tax Credits
-
HOPE VI Mortgage Loan
- Federal
Home Loan Bank
- City of Elizabeth
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