Partnership will bring more than 500 new homes to North Trenton
CAMDEN, N.J., November 9, 2021 (Newswire.com) - The Michaels Organization, a national leader in residential real estate and the largest private-sector owner of affordable housing in the country, has been named the development partner for a major neighborhood revitalization in North Trenton, New Jersey, following a competitive selection process by the Trenton Housing Authority (THA).
Since then, THA has worked with residents and a host of community stakeholders and partners to develop a master plan that will bring more than 500 newly constructed mixed-income homes to the Battle Monument Neighborhood in North Trenton. This includes new affordable living communities for residents of Donnelly Homes, an obsolete public housing community.
"We are privileged to partner with THA to bring their vision to life and implement their transformation plan for this important and historic neighborhood," said Michaels' Vice President Nicholas Cangelosi, who is serving as the lead developer.
Michaels experience with the US HUD Choice Neighborhoods Implementation Program (CNI) - a comprehensive, holistic transformation approach - includes CNI-funded developments in Camden, Jersey City, and Atlantic City, New Jersey; Tulsa Oklahoma, and Los Angeles, California.
"A key step in this process is to listen and learn from residents and stakeholders about the history, culture, and character of the neighborhood from the people who live, work, and love the area," said Jelani Garrett, THA's Executive Director. Garrett noted that the redevelopment of Donnelly Homes comes on the heels of the redevelopment of Turner Pointe last year, part of the Housing Authority's continuing effort to modernize and improve its developments.
"The Battle Monument Neighborhood contains all the ingredients of a thriving neighborhood, including compact walkable blocks, functional commercial corridors, easy access to jobs, parks, schools and churches," said Mayor Reed Gusciora. "We are proud to move forward with this investment in the neighborhood, while ensuring that affordable housing remains a top priority."
In addition to developing high quality affordable and mixed-income housing, Michaels and THA's partnership will focus on bringing new supportive services to residents as well as job opportunities for local residents and businesses.
The multi-phased transformation vision includes plans for townhomes and apartment flats for families, amenity rich housing specifically designed for seniors, and affordable homeownership opportunities.
In addition to CNI grant funding, Michaels and THA will apply for federal Low Income Housing Tax Credits and numerous soft funding sources to finance the revitalization.
The new housing is being designed by Urban Practice. Better Tomorrows will provide resident supportive services. Michaels Construction will serve as General Contractor, and Michaels Management and the Trenton Housing Authority will partner to provide property management, ensuring that the new housing communities remain assets to the neighborhood for years to come.
About The Michaels Organization: Michaels is a national leader in residential real estate offering full-service capabilities in development, property management, construction, and investment. Serving 146,000 residents in more than 425 communities nationwide, Michaels is committed to crafting housing solutions that jumpstart education, civic engagement and neighborhood prosperity, and to creating Communities That Lift Lives.
About Trenton Housing Authority: THA is an autonomous body that is chartered by the City of Trenton and the State of New Jersey, with partial funding by the federal government through the U.S. Department of Housing and Urban Development (HUD). Governed by a seven-member Board of Commissioners, the THA is committed to providing decent, safe and sanitary housing that is thoroughly constructed, carefully maintained and expertly managed. The THA seeks to identify projects that have the potential to act as a catalyst for the revitalization of neighborhoods in the City of Trenton. In an effort to promote self-sufficiency among the families that reside in its communities, the THA partners with local agencies and organizations to provide education, training, employment, and business opportunities for its residents. To learn more, visit: www.tha-nj.org.
Media Contact: Laura Zaner, firstname.lastname@example.org; 856-988-5983
Source: The Michaels Organization