NJCDC Partnering with St. Joseph’s Health Developing 71 New Supportive Housing Apartments in Paterson

Ensuring that Housing is Healthcare Through the Hospital Partnership Subsidy Program

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) is working directly with hospitals through its Hospital Partnership Subsidy Program to develop more supportive housing throughout New Jersey.

Currently, four supportive housing developments are part of this initiative. According to NJHMFA’s Executive Director Charles Richman, the purpose of the program is to help reduce the hospital costs associated with the frequent and unnecessary use of emergency hospital services and provide at-risk individuals with the supportive housing they need to sustain healthy living.

New Jersey Community Development Capital (NJCDC) is partnering with St. Joseph’s Health and the Community Asset Preservation Corporation (CAPC) to develop the Barclay Street project in Paterson through NJHMFA’s Hospital Partnership Subsidy Program projects. I spoke with Bob Guarasci, Founder & CEO of NJCDC about their involvement in this new project which is currently in the design stage.

“NJCDC is delighted to be part of one of the initial projects in NJHMFA’s Hospital Partnership Subsidy Program,” said Guarasci. “We are fortunate in Paterson to have St. Joseph’s Health as a partner. St. Joe’s truly understands that housing is healthcare. We are also thrilled to be receiving funding from NJHMFA, a state agency that thinks creatively around housing and healthcare.”

NJCDC, located in Paterson, is a community organization committed to the overall revitalization of the City of Paterson. The organization understands that projects such as this one being developed in partnership with St. Joseph’s Health will help build a stronger, healthier community by addressing key social determinants of health such as Economic Stability, Health, Community and Neighborhood.

The $23 million Hospital Partnership Subsidy Program project will create 71 new supportive housing apartments.

“NJCDC looks forward to working with all of the individuals and families who will eventually have a new place to call home,” said Guarasci.”

Monarch Housing Associates is the project’s development consultant partner.

“NJCDC has a long-standing relationship of working with Monarch Housing and is confident that Monarch’s involvement will ensure success, says Guarasci. “This success will include not only getting the development built but also ensuring that the residents will succeed in their new homes.”

Kitchen & Associates is the project’s architect and is very experienced in designing quality supportive housing.

NJCDC has extensive experience in partnering to develop supportive housing in Paterson and, to date, has created about 150 supportive housing apartments, including about half of which are service enriched. The organization looks forward to working with its project partners to bring this project to life in Paterson.

Services will be offered on site to help those moving into their new apartments to lead healthier, more independent lives. Exactly which services will be most helpful to those moving into this new development in Paterson will be determined through a community process. NJCDC plans on conducting focus groups with future residents asking them what services they would like to see offered in the building.

The $12 million Hospital Partnership Subsidy Program was created after the New Jersey Department of Community Affairs (DCA) released research suggesting that providing supportive housing leads to health care and government cost savings.

NJHMFA is partnering with New Jersey hospitals, in addition to St. Joseph’s Health, to develop affordable and supportive housing in close proximity to hospitals. Every dollar that hospitals in the program contribute to developments will be matched by NJHMFA for up to $4 million. NJHMFA also anticipates that these projects will raise equity through the 4% Low Income Housing Tax Credit (Housing Credit) program.

Housing Development was one of the federal Policy Priorities of the July 24, 2019 Congressional Reception. NJCDC was a sponsoring partner of the 2019 Congressional Reception. Regarding the Housing Credit, we requested that our elected officials expand and improve the Housing Credit to better target resources to households with the greatest needs and to increase the availability of safe and affordable housing. The Housing Credit is responsible through financing for nearly all of the affordable housing built and preserved since the program was authorized through tax reform in 1986.

For more information about the Hospital Partnership Subsidy Program, please read more on the NJHMFA website.