Camden Housing Authority – Roosevelt Manor/Branch Village Phase II
We represented the Camden Housing Authority in connection with the construction and finance of Roosevelt Manor/Branch Village Phase II, a 58-unit replacement housing project in the Centerville section of the City of Camden. The site, owned by Camden Housing Authority, is currently vacant and was originally part of the Roosevelt Manor HOPE VI Revitalization project. Of the 58 units, 24 units will be affordable to extremely low income families at less than 30% of Area Median Income (“AMI”) and 34 units will be affordable to low income families at between 30% – 60% AMI. All the units will be covered by ACC subsidy. The Project will be funded from a combination of American Recovery and Reinvestment Act (“ARRA”) Capital Fund Recovery Competitive Grant, Housing Replacement Factor funds, 4% low income housing tax credit equity, New Jersey Housing and Mortgage Finance Agency (“NJHMA”) Tax-Exempt Bond Financing, and Federal Home Loan Bank Funds. For more information on this project, please contact Glenn F. Scotland, Member.
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