Walters announced Friday it held a ribbon-cutting ceremony at The Ponds At Jackson Twenty-One, an 88-unit income restricted housing community.
The event, attended by state and local officials, was held at 100 Mallard Court in Jackson.
“We are very proud of what we do, and we plan to build many more communities like this throughout the state,” Joseph Del Duca, partner and director of affordable housing. “Our goal is to provide people with a safe and secure place to live, near where they work, and where their kids can go to a good school and have a successful life.”
The community consists of 11 buildings with townhouse-style apartments in one- to three-bedroom layouts. Amenities include a clubhouse, tot lot, basketball court and multipurpose field. It’s within close access to Interstate 195.
“The Ponds is a substantial investment in the Jackson community and continues to help meet a demand for affordable housing that was exacerbated by Superstorm Sandy,” NJHMFA Executive Director Charles A. Richman said. “We are very proud of our efforts to help rebuild and restore in the six years since Sandy hit our state and to provide the capital financing required to leverage recovery funding with our existing programs and financing.”
NJHMFA provided about $13 million in construction and permanent financing as well as $14.5 million in federal Community Development Block Grant Disaster Recovery assistance through the Fund for Restoration of Multifamily Housing.