Bayshore Village Get Federally Backed Funding For Redevelopment

Middletown Public Information;
May 26, 2015

Middletown Senior Community Ravaged by Sandy Receives Federally Backed Funding for Redevelopment

Lawrenceville-based Community Investment Strategies (CIS) was recently awarded funding from the Board of the New Jersey Housing and Mortgage Finance Agency (HMFA) as part of its $180 million in federal Sandy recovery funds. CIS was awarded with the largest grant in Monmouth County and the second largest on a per-unit basis overall for its Bayshore Village community in Middletown – a proposed 110-apartment community for seniors.

HMFA awards were granted to support the creation of 1,500 housing units in the nine New Jersey counties designated as the most impacted by Superstorm Sandy. According to HMFA, funding is made possible with federal Community Development Block Grant (CDBG) Disaster Recovery dollars through the Fund for Restoration of Multifamily Housing (FRM) Program, which was created following Superstorm Sandy to provide qualified housing developers with subsidies to finance affordable housing.

Before Supertstorm Sandy, Bayshore Village, owned by Middletown Senior Citizens Housing Corp., consisted of 96 one-bedroom apartments in 12 buildings. Located in one of the hardest hit areas in the region affected by Superstorm Sandy, five buildings were rendered a total loss by the storm. CIS is redeveloping the community in collaboration with the Middletown Senior Housing Corporation to rebuild 110 one- and two-bedroom senior housing units to address area market demands.

“Bayshore Village is the only low-income community in Monmouth County impacted by Sandy to such a large extent,” said Christiana Foglio, founder and CEO, CIS. “Our goal is to help rehouse seniors who lost their homes and give them a chance to thrive in a state-of-the-art, thoughtfully designed, energy-efficient community that offers all the modern amenities while being a safe and comfortable place to call home.”

According to project manager Barbara Schoor, vice president of CIS, the extent of the damage to Bayshore Village, particularly its location within the flood plain, contributed to receiving such a significant HMFA award – and served as the foundation of CIS’ redevelopment plans for the property.

“We will rebuild Bayshore Village several feet above flood elevation regulations,” said Schoor. “We also plan to incorporate various resiliency features into the design – something CIS has been at the forefront of since our involvement in the Enterprise Community Partners’ program aimed at recovering, rebuilding and reforming the way builders plan post-Sandy.”

“Superstorm Sandy devastated Bayshore Village, leaving seniors with limited incomes in great need of affordable housing,” said Middletown Mayor Stephanie C. Murray. “We’re looking forward to having Bayshore Village restored so that it can continue to be one of many housing opportunities available in Middletown Township.”

PRC Management Group is currently managing the property as it exists and, according to Schoor, will work with residents currently living there to assist them with the relocation process prior to construction, which is expected to begin in late summer.

Pallone: Federal Cuts Are Putting New Jerseyans Out on the Streets

Visits Long Branch Housing Authority and Holds Town Halls with Seniors

Long Branch, NJ – Today, Congressman Frank Pallone, Jr. (NJ-06) held three town hall meetings with residents at senior complexes operated by the Long Branch Housing Authority (LBHA) where he shed light on the crippling effect the across the board federal budget cuts, also known as the sequester, are having on housing programs in New Jersey and nationally. The sequester has caused housing authorities to nearly stop issuing new rent vouchers.

“So many New Jerseyans are struggling as a result of the severe shortage of affordable housing across the country. Now is not the time to cut anti-poverty and anti-homelessness programs like those used at the Long Branch Housing Authority. In these times we should increase access to affordable housing through these programs, not slash them,” said Pallone. “That’s why I am so frustrated by Republicans in Congress and members of the Tea Party who refuse to stop the mindless budget cuts. People need affordable places to live to help put them on track to the middle class, and it is wrong that the GOP slash and burn sequester is putting people out on the street. Congress must reverse these cuts and work together to come up with a budget that grows the middle class instead of one that takes the roof over people’s heads.”

LBHA serves about 1,372 families and individuals, 784 of whom live through assistance from the Housing Choice Voucher program that provides decent and safe rental housing for eligible low-income families, the elderly, and persons with disabilities. Due to budget cuts over the past several years and recent federal cuts from sequestration, LBHA has been forced to downsize bedrooms to avoid kicking people off the program and has had to rely on donations and volunteers to maintain their social services programs.

Nationally, the Housing Choice Voucher program helps 2.2 million low-income households to rent modest housing at an affordable cost, and the average household income of families receiving Housing Choice Vouchers is $12,500. Unfortunately, now many newly issued vouchers have been rescinded, leaving some people homeless or doubled up with family and friends.

Estimates show that federal cuts as a result of sequestration negatively affect more than 440,000 households and an additional 1.1 million people by decreasing affordable housing opportunities and community development services. According to Housing and Urban Development Secretary Shaun Donovan, about 125,000 individuals and families could lose assistance provided through the voucher program and be at risk of becoming homeless.

The need for affordable housing and community development services far exceeds current funding levels. Since 2009, the percentage of households most in need of assistance has grown by 19%. Currently, only one in four eligible households receives a housing voucher or some other type of federal rental assistance, and there are long waiting lists for assistance in nearly every community.