Lautenberg, Menendez And Holt Join HUD Secretary Donovan And Mayor Palmer To Announce $22 Million For Trenton Redevelopment
TRENTON, NJ – June 2, 2010 – (RealEstateRama) — U.S. Senators Frank R. Lautenberg (D-NJ) and Robert Menendez (D-NJ) and Rep. Rush D. Holt (D-12) joined Housing and Urban Development (HUD) Secretary Shaun Donovan and Trenton Mayor Douglas H. Palmer in announcing $22 million in federal HOPE VI funding for the Miller Homes revitalization effort. The existing buildings will be demolished and will be replaced with 309 units – both on and off site. The project is estimated to create approximately 120 construction jobs and 20 permanent jobs.
“We are proud to be working with President Obama and Secretary Donovan to help rebuild Trenton,” said Lautenberg, a member of the Appropriations Subcommittee on Transportation and Housing and Urban Development. “These federal funds will provide New Jersey’s capital city with an opportunity to tear down the Miller Towers and build up a stronger neighborhood. By working together, we can help neighborhoods, families and children down the path of a brighter future.”
“Just as the housing crisis had devastating ripple effects, bringing stability to the housing sector can have many positive ripple effects for families, communities and economy,” said Menendez, Chairman of the Banking Subcommittee on Housing, Transportation and Community Development. “For the families who will occupy the residences of the new Miller Homes, this investment means an affordable, quality roof overhead. To the Trenton community, this investment means part of the economic rebuilding process, with ripple effects including housing security, community development and new jobs.”
“For well over a decade, the empty Miller Homes towers have loomed over the neighborhood as symbols of decay and abandonment — and reminders of what could be,” Holt said. “With extensive planning, community involvement, and now $22 million in federal funding, we look forward to the day when this area is a bustling center of affordable housing with easy access to retail, public transportation, and green spaces.”
“The plan is to leverage this $22 million grant to more than $100 million, which truly will transform this neighborhood for homeownership and modern rental housing,” said Palmer. “In addition to helping hundreds of residents, the revitalization here will enhance the marketability and feasibility of the entire area surrounding our newly renovated Trenton Transit Center. This is a triumph for Trenton – and is testimony to the importance of intergovernmental partnerships across all levels of government – especially with the late Trenton Housing Authority leader Wayne Lartigue, Secretary Shaun Donovan and the Obama administration, Senator Lautenberg and our entire congressional delegation, and so many more who work steadily, quietly, and effectively on behalf of working families.”
New Jersey has received two of the six national HOPE VI revitalization grants announced this week for a total of $31.7 million. In addition to the $22 million in funding for Trenton, Jersey City received $9.7 million for the A. Harry Moore public housing development. The money for Jersey City will go toward demolition and the construction of 299 new units.
Since 1993, HUD has awarded HOPE VI grants to public housing authorities across the country to encourage public-private partnerships to transform severely distressed public housing into mixed-income communities that assist residents in becoming self-sufficient. The program was created in 1992 when it was determined there were 86,000 public housing units in the U.S. in need of revitalization. HOPE VI Revitalization grant funds are used for an array of activities, including demolition of severely distressed public housing, acquisition of sites for off-site construction, new construction, and costs for counseling and relocation.
Since the program’s inception, New Jersey has received nearly $385 million for HOPE VI redevelopment projects around the state.
