TRENTON, NJ — The New Jersey Housing and Mortgage Finance Agency (NJHMFA) Board approved financing commitments for Hamilton Senior Apartments at the July Board meeting.

This development will provide brand new housing opportunities for New Jersey’s aging residents and residents in need of supportive services.

The Board approved a permanent mortgage loan totaling $1.865 million through its Revenue Bond Financing Program and a subsidy loan of $600,000 through the Money Follows the Person Housing Partnership Program (MFPHPP).

Hamilton Senior Apartments was awarded 9% Low Income Housing Tax Credits in the 2025 9% Senior Cycle. Together, these sources will finance 50 affordable units, including five units for individuals experiencing homelessness and four units for individuals transitioning out of nursing homes. With this financing now secured, construction is expected to commence imminently and be completed in March 2028.

"Affordable housing plays a vital role in ensuring that New Jersey's older adults can continue living independently in the communities they know and love," said Melanie R. Walter, Executive Director of NJHMFA. "This development in Hamilton will provide high-quality, affordable homes for seniors while helping them remain connected to family, healthcare, and the services they need to thrive."

MFPHPP is a partnership between NJHMFA and the New Jersey Department of Human Services, Division of Aging Services. MFPHPP allows individuals with additional support needs to live within the broader community while ensuring they can access necessary services. The project demonstrates NJHMFA's dedication to enhancing supportive housing across New Jersey, ensuring that residents of all abilities can live with dignity and independence.

The property is located close to highways and major thoroughfares, providing residents access to a wide range of nearby amenities, including supermarkets, department stores, convenience stores, medical offices, pharmacies, banks, restaurants, and places of worship. Additionally, Robert Wood Johnson University Hospital Hamilton is located approximately two miles from the property. 

About Us: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs. To learn more about NJHMFA, visit: njhousing.gov