Newark Announces String of Development Projects to Carry Out Affordable Housing Initiative

TOM WIEDMANN

19, November 2021

NEWARK, NJ — More affordable housing projects are planned in Newark to meet the demand of residents after the city this week announced the first seven projects to be built under “Affordable Newark,” a new housing initiative targeted to families earning $32,000 and less.

Affordable housing has been a key focus for Newark Mayor Ras Baraka’s administration after he laid out his plans earlier this year to build 3,000 new homes across the city’s five wards by 2026 and to create or preserve at least 6,000 affordable housing units for its low-income residents.

The recently announced projects will feature a mix of developments in the city’s South and East wards. One of the planned developments in the South Ward includes a renovation of an existing 75-unit vacant apartment complex containing two mid-rise buildings on Stratford Place.

In the East Ward, the city plans to undertake a permanent housing project on 3rd Avenue for veterans who are homeless or at risk of becoming homeless and construct affordable housing on Thomas Street for individuals age 55 and older. 

“Fifty-nine percent of all Newark renters are cost-burdened, spending more than a third of their incomes for housing, and one-third must spend more than half of their incomes for a place to live,” said Baraka. “Today’s announcement is another step toward our goal of a more equitable city by prioritizing housing in every ward of Newark that the average resident can afford.”

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Newark Announces String of Development Projects to Carry Out Affordable Housing Initiative