The New Jersey Housing and Mortgage Finance Agency (NJHMFA) has been recognized as a 2023 Leader in Real Estate, Construction, and Design by NJBIZ. This accolade adds to the agency's achievements in promoting affordable and mixed-income housing construction and economic development across New Jersey throughout 2023.
This award acknowledges NJHMFA's efforts in facilitating high-quality, accessible, affordable housing through its financing capabilities, innovative programs, and partnerships. Since 2021, the agency has expanded its core multifamily programs to generate over $1.3 billion annually in construction.
"NJHMFA is committed to ensuring that New Jersey residents have access to high-quality affordable housing near the schools, jobs, transportation, services, and other amenities that their households require," stated Executive Director Melanie R. Walter. "We are honored that NJBIZ has recognized our successful efforts to provide these housing opportunities by naming us as a Leader in Real Estate, Construction, and Design for 2023."
Projects highlighted by NJBIZ include Hinchliffe Residences and Barclay Place. These developments opened in summer 2023 and demonstrate how NJHMFA financing aids municipalities in achieving planning, growth, and housing objectives while fostering inclusive communities.
Hinchliffe Residences is part of the redevelopment of Hinchliffe Stadium in Paterson. It integrates historical architecture with modern elements like affordable senior housing and a daycare. This project is noted as the state's largest historic preservation effort and received multiple awards including the 2023 Smart Growth Award from NJ Future.
Barclay Place is the first project completed under NJHMFA’s Hospital Partnership Subsidy Program. This initiative serves as a national model for leveraging hospitals' roles as anchor institutions to improve community health through affordable housing creation. The project earned several accolades such as the 2023 Project of the Year Award from the Supportive Housing Association of New Jersey.
Other notable projects recognized in 2023 include Gordon H. Mansfield Veteran’s Community in Tinton Falls which won an NAA Excellence Award; One Thompson Place in Dover receiving a Smart Growth Award; and Freedom Village at Hamilton Woods cited by NJBIZ.
