Real Estate Journal — New Jersey — May 10 - 23, 2019 — 5B


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N ew J ersey

AMDEN, NJ — New Jer s ey Hous i ng and Mortgage Fi- Major reno. of affordable apartments in Camden NJHMFA & The Michaels Organization break ground C

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nance Agency (NJHMFA) executive director Charles A. Richman , local officials and TheMichaels Organization broke ground on a major reno- vation of 64 townhomes that will preserve historic proper- ties and affordable homes for families living in the city. Cooper Plaza Townhomes is the restoration of a five- block section of homes in the vicinity of Cooper University Hospital and the city’s down- town business district. The project consists of 34 build- ings, including: 25 historic Victorian-style townhomes with 47 apartments; six build- ings housing 11 apartments; and three buildings with six apartments. With the preservation, all 64 townhomes will remain permanently affordable for households earning less than 80 percent of the area median income. “Cooper Plaza is a project that is central to the mission of the Murphy Administration to create housing that is af- fordable that also historically preserves and aesthetically

Shown from left: NJHMFA Executive Director Charles A. Rich- man; Camden County Freeholder Susan Shin Angulo; Rep. Donald Norcross; Camden Mayor Frank Moran; Sheila Roberts, President, Cooper Lanning Civic Organization; Richard S. Mroz, Board of Di- rectors, Federal Home Loan Bank of New York; Mary Concepcion, resident, Cooper Plaza Townhomes; John J. O’Donnell, CEO, The Michaels Organization; and Nicholas Cangelosi, Vice President of Development, The Michaels Organization.

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enhances the community,” said Lt. Governor Sheila Oliver , who also serves as Commis- sioner of the Department of Community Affairs and Chair of the NJHMFA Board. “These newly renovated homes are part of a greater initiative to create more opportunities for high quality housing for New Jersey families while helping to create stronger and healthier communities.” “Many of these distinctive buildings once provided homes for doctors and administrators

at Cooper Hospital. Today, they are continuing to serve the community by providing much-needed affordable homes for families,” said NJHMFA executive director Richman. “NJHMFA is excited to be part of the Cooper Plaza Town- homes project. This redevelop- ment not only renews the life of these buildings, which will continue to provide homes for city residents, but revitalizes the community as we build a stronger and fairer New Jersey.” 

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