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Urban League of Essex County

Urban League of Essex County

Type

For-sale Housing

Location

Newark, NJ

Est. Project Cost

$7 million

Size

29,280 SF

Public Financing

Debt

Sponsor

Urban League of Essex County

Private Financing

New Market Tax Credit

Closing Date

Q2 2023

Civil Rights Nonprofit Homeownership Initiative

Development and financing of eight affordable two-family, for-sale housing units in Newark, NJ, totaling 29,280 sq. ft., to support families of color earning 80% or less of the AMI for Essex County. Urban League of Essex County (ULEC) empowers communities to achieve social and economic self-sufficiency through knowledge and resources.

Estimated Economic and Social Impact

Development of 8 affordable two-family for sale housing units. ULEC will provide long term assistance to the new homeowners. Creation of over 80 construction jobs including jobs for motivated reentry candidates that receive workforce training in construction trades.

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