Salem City, NJ – November 9, 2015 – (RealEstateRama) — New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta recently joined local officials and community leaders for the grand opening of? Nelson House Washington Hall Condominiums, a 30-unit affordable housing community located on 183-187 East Broadway, Salem City. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided a construction loan of $833,683 and approximately $1.5 million in financing for the venture through its Choices in Home Ownership Incentives Created for Everyone (CHOICE) program.
Comprising 30 brand new residences, the four-story Nelson House Washington Hall Condominiums feature a well-appointed lobby, lounge, community activity room, and six condominium units on the ground floor. The second, third and fourth floors offer eight condominium homes, each offering two bedrooms and one bathroom encompassing approximately 900 square feet of living space. Each home, priced at an affordable $80,000, includes a washer, dryer, stove, and refrigerator
The developer of this project is Tri County Real Estate Maintenance Co. Total development cost for Nelson House Washington Hall Condominiums is $3.9 million.
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