CSH is excited to share a new funding source for supportive housing development in New Jersey, the New Jersey Housing & Mortgage Finance Agency Special Needs Housing Subsidy Loan Program. This new program provides capital funding for the new construction or rehabilitation of housing for people with special needs.
For projects dedicated only to special needs populations, the maximum loan amount may not exceed $500,000 per project; and for multifamily housing with special needs units included, the maximum loan amount may not exceed $125,000 per unit, with a maximum of five units per project.
The Subsidy Loan Program presents another opportunity for developers looking to finance supportive housing in New Jersey to take advantage of the variety of loan products we offer with flexible terms and competitive pricing, including predevelopment and acquisition loans.
CSH is a nonprofit Community Development Financial Institution (CDFI) with the expertise to take you from concept to construction and beyond. Visit www.csh.org/lending to learn more or connect directly with your regional Senior Community Investment Officer, Ross Clarke, at ross.clarke@csh.org.
