News Release 8/2/13
Members of the Housing Authority, City Officials and former residents in front of the first building to be demolished. (File Photo of Delaney Homes Demolition 11/10/11) *Photo by Carolyn Maxwell
PERTH AMBOY — The Housing Authority of the City of Perth Amboy (HACPA) has been awarded a $5 million allocation of Community Development Block Grant Funds considered “Sandy Funds,” in addition to the tax credit equity by the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to construct 70 units of family housing on the Delaney Homes site on Convery Boulevard in Perth Amboy.
The apartments are being developed through a public-private partnership between the HACPA and The Ingerman Group, an affordable housing development, construction and property management company based in Cherry Hill, New Jersey.
The HACPA became aware of the availability of these funds targeted to “shovel ready projects in March 2013. “The NJHMFA’s timeframe was short and the application requirements demanding,” explained Douglas Dzema, Executive Director of the HACPA. “We would not have been successful if it hadn’t been for the extraordinary efforts and cooperation from the Mayor Diaz’s Office, City Administration, the Housing Authority Commissioners and The Ingerman Group, he said.
The demolition of the 15-acre Delaney site was the first step to redevelopment in 2011. The HACPA has been working on the redevelopment plans for Delaney Homes into a mixed use, mixed income neighborhood for a number of years but the project was delayed by the economic recession. “This grant award now provides a jumpstart to our site redevelopment plan,” said Mr. Dzema.
“As we move forward with this renewal effort at one of the most popular entrances to the City of Perth Amboy, we are beatifying our gateway and revitalizing a property that has been vacant for several years. In addition to its redevelopment, the project will create construction jobs, creates ratables and affordable housing. We have been working together to achieve the best for our community,” said Mayor Wilda Diaz.
The total cost of the development is estimated at $19,000.000. In addition to the $5,000,000 of the CDBG Funds, the HACPA is providing $400,000 of HUD Housing Replacement Funds to the project. The remainder of the funds are being provided through Low Income Housing Tax Credit equity and financing from the NJHMFA.
“The family affordable housing for Delaney Homes has a unit mix of (14) one-bedroom, (36) two-bedroom and (20) three-bedroom units. There will be (3) three buildings on approximately (4) acres. Construction is expected to begin in the second quarter of 2014,” said Mr. Dzema.
