New Jersey Launches A $50 Million Supportive Housing Initiative For Residents With Special Needs

On March 3, 2020, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) launched a new $50 million initiative to provide funding for 400 apartments for residents with special needs. The funding is through the Special Needs Housing Subsidy Loan Program (SNHSLP). NJHMFA will finance the new program through bonding and its own contributions. The state has begun to receive applications, and will continue to accept them as long as program funds are available. The application process is not competitive and is open to all eligible projects that meet the program criteria.

For special needs-only developments, the maximum loan . . .