AHP Success Stories
South Plainfield Senior Housing Receives AHP Funding Through The Provident Bank
Through FHLBNY member lender The Provident Bank, $656,500 in Affordable Housing Program (AHP) funding was granted to the South Plainfield Senior Housing project. The project involved the construction of 100 units of housing for very low-income senior citizens. The South Plainfield Senior Housing features off-street parking, laundry facilities, activity rooms, and a computer room. All units are handicapped adaptable. To enhance the quality of life for the seniors that reside at the project, social services are provided to residents at no cost. The residential services coordinator arranges transportation services, health screenings, nutritional counseling, and recreational activities. This is the first affordable housing project in the Borough of South Plainfield. The AHP funds were used to fill a gap in the construction costs. Additional financing was provided by the New Jersey Department of Community Affairs Balanced Housing Program, Middlesex County HOME funds, Low Income Housing Tax Credits, the Middlesex County Improvement Authority, and the Borough of South Plainfield.
AHP is a subsidy program in which funds are awarded through a competitive process to member lenders in support of projects that create and/or preserve housing for lower income families and individuals. For more information on the AHP program, or to see if the housing project you have in mind is eligible for AHP funding, contact us at (212) 441-6850 or [email protected].