Atlantic City affordable housing advances

Press of Atlantic City
www.pressofatlanticcity.com

“Representatives from the Christie administration joined federal and local officials, the Atlantic City Housing Authority and Urban Redevelopment Agency and Conifer Realty, LLC Wednesday to mark the groundbreaking for The Meadows, a new affordable housing development in Atlantic City.

The development, located in the Back Maryland section of the city, will have 90 one- to three-bedroom units, according to an announcement from the state Department of Community Affairs.

The development will include a community building with a community room, computer room, management offices and additional maintenance space, the DCA said. Housing units will have a dishwasher, refrigerator, air conditioning and an electric oven. Residents in 62 of the 90 units will receive rental assistance, the DCA said.

The DCA said the project, which will be developed by Conifer Realty, LLC, has been awarded $5.8 million in federal Sandy recovery funds.

The HMFA also provided approximately $14.6 million in agency financing and awarded the project 4 percent federal low-income housing tax credits that will generate more than $9.9 million in private equity, the DCA said. Other funding sources for the project include HOPE VI funds from the Atlantic City Housing Authority and a deferred developer fee.

The project is expected to be completed in March 2016. The Atlantic City Housing Authority and Conifer Realty, LLC, will begin to accept apartment applications for available units in November of 2016.

Until then, residents can request to be placed on the interest list by calling 609-385-0676. People on the interest list will be notified when applications become available.”