Menendez, Lautenberg, Sires, HUD Secretary Donovan And Mayor Healy Announce $9.7 Million For Jersey City Redevelopment

JERSEY CITY, NJ – June 2, 2010 – (RealEstateRama) — U.S. Senators Frank R. Lautenberg (D-NJ) and Robert Menendez (D-NJ), Rep. Albio Sires (D-13), Housing and Urban Development (HUD) Secretary Shaun Donovan and Jersey City Mayor Jerramiah Healy today announced $9.7 million in federal HOPE VI funding for the A. Harry Moore revitalization effort. The existing buildings will be demolished and will be replaced with 299 units – both on and off site. This will be Jersey City’s third HOPE VI grant, with the previous two totaling more than $65 million.

“We are proud to be working with President Obama and Secretary Donovan to help rebuild Jersey City,” said Lautenberg, a member of the Appropriations Subcommittee on Transportation and Housing and Urban Development. “These federal funds will provide Jersey City with an opportunity to tear down the A. Harry Moore development 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.”

“This grant awarded by HUD will assist the JCHA to move forward in its efforts to revitalize its public housing developments into safe, livable communities for the benefit of its residents,” said Sires.

“Our housing authority has established itself as a model for others throughout the country, from its Section 8 program to its green building practices to its award-winning redevelopments,” said Healy. “We can’t thank President Obama and Secretary Donovan enough for this funding, which will ensure that the distressed housing at A. Harry Moore becomes yet another project that Jersey City can be proud of.”

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 $9.7 million in funding for Jersey City, Trenton received $22 million for the Miller Homes public housing development. The money for Trenton will go toward demolition and the construction of 309 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.