Supportive Housing Works
Monarch Housing Associates, Inc., the 1995 Governor’s Excellence in Housing Award winner in the organization category, is a 501 (c) 3 non-profit corporation dedicated to the “right to housing” for all persons with disabilities and to the development of permanent, affordable and supportive housing opportunities for persons with a disability and the homeless.
Monarch has extensive experience helping our clients develop affordable, rental housing for persons with special needs, seniors and households with low incomes. Our project experience includes new construction, rehabilitation and reconfiguration of existing housing, and the adaptive re-use of commercial buildings.
Monarch has an established track record helping clients develop affordable housing using multiple layers of financing from local, state, federal and private funding. Some of these funding sources include:
- Low Income Housing Tax Credits,
- NJ Special Needs Housing Trust Fund,
- NJ Balanced Housing, NJ Home Express,
- HUD McKinney,
- HUD 811/202, and the
- Federal Home Loan Bank.
Monarch also works with sponsors to secure funding for project-based rental subsidies from sources such as HUD Shelter + Care, the State Rental Assistance Program and Project-Based Section 8 vouchers.
Our menu of housing development consulting services includes the following:
- Overall project coordination.
- Prepare project budgets and financial projections.
- Create permanent financing strategy, prepare funding applications, negotiate with funders, and coordinate loan closings.
- Prepare tax credit application, negotiate with tax credit syndicator, and coordinate equity closing.
- Securing project based rental subsidies for units in the project.
- Securing pre-development funding for the project.
- Assist with municipal approvals.
- Assist property manager with marketing and lease-up.
- Preparation of construction draws.
- Coordination and troubleshooting with architect and contractor.
- Interface with inspectors.
- Coordination and development of Continuum of Care applications and Ten-Year Plans to end chronic homelessness.
To read more about the work of the Housing Production Team click on the links below: