FY 97 Homeownership Zone
Trenton, New Jersey
AMOUNT OF AWARD:
Homeownership Zone Grant — $3,875,000
NEW HOMEOWNER UNITS:
306 (212 new construction, 94 rehabilitation)
HOMEOWNERSHIP ZONE SITE:
The Canal Banks Homeownership Zone (HOZ) is a 213-acre area immediately north of downtown Trenton along the banks of the historic Delaware and Raritan Canal. It is bounded by Pennington Avenue on the north, Bank Street on the east, West Hanover Street on the south, and Prospect Street on the west. At the time of the Homeownership Zone designation, the area was the most distressed area in the City. High crime, vacant units, poverty rates and environmental contamination had inhibited investment.
Trenton's Homeownership Zone proposal calls for the development of new infill homeownership housing, extensive street and public improvements, new parks and a retail center. The new homes are concentrated in ten target areas. The new housing development will reclaim vacant and blighted properties. The area includes the Trenton Battle Monument Park which commemorates General Washington's victory at the Battle of Trenton on Christmas, 1776. The park and the Delaware and Raritan Canal serve as focal points for the Homeownership Zone. The neighborhood will include linear parks along the canal and an obsolete railroad right-of-way, providing public space and recreational opportunities. The proposal also calls for economic development adjacent to Battle Monument Park. The park will be rehabilitated and a commercial center will include a new supermarket, a health care center and educational facilities. Finally, this plan calls for the completion of environmental remediation of three brownfield sites.
Homeownership Zone Grant $3,875,000
New Jersey Housing and Mortgage Finance Agency
New Jersey Department of Community Affairs
New Jersey Department of Environmental Conservation
New Jersey Community Loan Fund
New Jersey Department of Transportation
Neighborhood Reinvestment Corporation
National Park Service
Federal Home Loan Bank
City Capital Funds
City Tax Abatement
First Union Bank
- The City implemented a Façade Improvement Program initiative to enhance the attractiveness and ensure the total redevelopment of the Canal Banks HOZ neighborhood. The program offers grants to improve the facades of properties abutting newly constructed and rehabilitated units in order to complement the exterior improvements made by the new HOZ developments.
- The City implemented the Vacant Property Security System (VPS) - an innovative system of modular window screens, doors and adjustable sheeting that are fitted externally over the vacant property openings to reduce vandalism and subsequent construction costs.
- The City used innovative energy-saving design and materials for Bellevue Court - the first and only urban microload homes in the nation.
AWARDS AND RECOGNITIONS:
- NJHMFA Governor's "Excellence in Housing Award" for innovation in the creation of a mixed-income development for Willow Green
- Phoenix "Award for Community Impact" in recognition of Excellence in Brownfields Development.
- NAHB award for Willow Green for "Innovation in Workforce Housing"
- 2006 NJ Housing Conference "Excellence in Housing Award for Outstanding Affordable Housing Development" for Belvidere Square
- New Jersey Planning Officials "Achievement in Planning Award" for Belvidere Square