Affordable Housing Funding Reaches South Jersey: 1,800 Affordable Homes Statewide

What Did New Jersey Announce?

In a September announcement, NJHMFA said its board had restructured financing commitments for 26 projects using three state housing programs.

The changes were intended to help the remaining projects meet a federal spending deadline. The projects include both new affordable housing and existing homes that will remain affordable.

According to the agency:

• 20 projects More than $150 million in Affordable Housing Production Fund financing will create 1,308 new affordable homes.
• Five properties The Urban Preservation Program will preserve 416 existing affordable homes at risk of losing their affordability restrictions.
• One Trenton project The project will create 120 homes, including 48 affordable to low- and moderate-income households and another 34 for middle-income households.

These numbers are statewide totals, not the number of homes planned for any one town.

Which South Jersey Communities Are Included?

NJHMFA identified several South Jersey municipalities among the locations of the properties supported by the financing actions.

In the communities surrounding Philadelphia, the announcement includes:

• Cherry Hill Camden County
• Moorestown Burlington County
• Hainesport Burlington County

The agency also listed properties in East Greenwich and Swedesboro in Gloucester County, along with other locations throughout New Jersey.

For residents following local housing development, the announcement offers a look at how state financing is supporting projects across the region.

What Does “Preserving” Affordable Housing Mean?

Affordable housing initiatives can involve more than building new homes.

In some cases, financing helps preserve existing homes that are at risk of losing the restrictions that keep them affordable. NJHMFA says five properties in this group will use preservation funding to maintain affordability for 416 existing homes statewide.

That distinction matters: the announcement’s total includes homes being preserved as well as homes expected to be created.

Who Could Qualify for Affordable Housing?

Eligibility depends on the individual property and its program requirements. Income limits, household size, age restrictions, and application procedures can vary.

The state’s announcement does not provide application dates or eligibility details for the Cherry Hill, Moorestown, and Hainesport properties.

If you’re interested in affordable housing opportunities, start by checking with the municipality or NJHMFA for current information. Moorestown also maintains an affordable housing page with local resources.

Why This Matters for South Jersey

From Cherry Hill’s established neighborhoods to Moorestown’s downtown and Hainesport’s Burlington County location, each community offers a different experience for residents.

Affordable housing is one part of the larger conversation about how people find and remain in the communities they want to call home. As more project details become available, residents will be able to see how these financing commitments translate into local housing opportunities.

Looking Ahead

NJHMFA’s announcement is a financing update, so there are still local details to follow—including the names of the properties, construction or preservation timelines, and future application information.

For the full statewide breakdown, visit the NJHMFA announcement.