Balanced Housing Program 

The Balanced Housing Program (BHP) is one of the primary state programs providing financing for the development of affordable housing for low- and moderate-income families and individuals. The deadline for applications are March 23 (congruent with the Low Income Housing Tax Credit deadline), August 15, and November 15, with funding decisions made within two months. Applications should be submitted well in advance of each deadline so that BHP staff and the sponsor have the opportunity to work together in devising an acceptable application. Please call DCA at (609) 633-6285 for more information.

Downtown Living 

The New Jersey Department of Community Affairs (DCA) has created a new community revitalization program called Downtown Living which will make available $7.5 million in low interest loans. Funds will be targeted for the development of market rate apartments in the State's downtown areas. For an application or more information about the program, contact Richard Montemore at DCA at (609) 633-6302.

New Jersey Affordable Green Program (NJAG)

Since the inception of the State of New Jersey’s Green Homes Office in 2000, over $8.5 million has been committed for green systems/features on over 1019 units.  In 2004, the office seeks to bring new developers with Balanced Housing projects into the NJAG program.  NJAG offers an additional subsidy ($7,500/unit) to pay for the cost differentials of adding more durable, less toxic, more resource and energy efficient materials/systems to their projects.  For more information, visit the office’s website at http://www.nj.gov/dca/dhcr/hsg_prog/njgreenhomes.shtml.