Asbury Park awared over seven million in grants for affordable housing

Two large-scale affordable housing projects will soon be underway in Asbury Park’s Springwood Avenue corridor.

Asbury Park Councilperson Yvonne Clayton today announced that Renaissance Village, a 64-unit affordable housing project, would receive $7,870,000 from the third round of Community Development Block Grant funding. These Sandy-related federal funds are passed through the State of New Jersey under the Fund for Restoration of Multifamily Housing. An additional award has been allocated for demolition and rebuilding of the Boston Way project, for approximately 120 mixed-income units.

“Years of planning will finally come to fruition with these funds,” Councilperson Clayton said. “This project will continue the redevelopment momentum in the west side of the City by providing dedicated housing and retail space that does not currently exist.”

As proposed, Renaissance Village will include 64 units of housing, including one, two, and three bedroom apartments. It will also have street-level commercial space for retail, a community room, computer lab, bike room, and on-site parking.

Asbury Park City Councilperson Eileen Chapman said, “It is wonderful to announce something this important to the City in my first few months on the job as a governing body member.”

Deputy Mayor Quinn expressed gratitude to the City’s partners in these endeavors, the Michael’s Group for Renaissance Village and the Housing Authority for Boston Way.

“If we all continue to work together, great things will keep happening in the City,” Deputy Mayor Quinn said.

Councilperson Jesse Kendle said “Projects like these are just what the Springwood Avenue corridor needs, to give people a place to live and to raise their families, visit the new Springwood Avenue Park, and be part of the community.”

Both projects are anticipated to start within a year. Contracts must be signed and applications and permitting must be completed. But, “When demolition is complete we’ll be able to take out the old-style public housing units and put up these beautiful and modern homes,” said Mayor John Moor.