Governor's Conference on Housing and Economic Development Announces Robert (Bob) Guarasci as 2025 Hall of Fame Award Winner

• Posted on: 09/10/2025

TRENTON, NJ – Robert (Bob) Guarasci, founder and chief executive officer of the New Jersey Community Development Corporation (NJCDC), has been selected as the 2025 recipient of the prestigious Housing and Economic Development Hall of Fame Award. Recognized for more than three decades of visionary leadership, community building, and transformative impact in Paterson, Guarasci will be formally honored during the 2025 Governor’s Conference on Housing and Economic Development, taking place September 16–17 at Harrah’s Resort in Atlantic City.

The Housing and Economic Development Hall of Fame Award recognizes pioneers in the housing and economic development fields, ranging from those who work to create, finance, and develop affordable housing and economic growth opportunities to individuals who advocate, lead, and educate the public on these issues.

Since its founding in 1994, NJCDC has been a driving force in transforming the City of Paterson, particularly in the 95-block Great Falls Neighborhood, with a bold vision that all 8,000 children living or going to school in the area will graduate high school ready for college and career.

“Bob Guarasci has spent three decades turning vision into action,” said Department of Community Affairs Acting Commissioner Kia King. “Through NJCDC, he has created opportunity, restored hope, and changed the landscape of Paterson. His leadership and innovation represent exactly what this Hall of Fame award was designed to honor.”

Over the course of more than 30 years, NJCDC has grown from two staff members and an AmeriCorps program to a comprehensive community development organization serving more than 4,000 children and families daily. Among its accomplishments:

• Building more than 200 affordable and service-enriched housing units for Paterson residents.
• Supporting youth from preschool through college, with alumni attending schools such as Yale, Harvard, UPenn, Stanford, and Rutgers.
• Establishing the Great Falls Youth Center, which serves hundreds of young people each year.
• Founding the Community Charter School of Paterson, educating 900 K–8 students with high expectations and strong outcomes.
• Helping residents achieve financial stability through the Paterson Financial Empowerment Center and Neighborhood Help Center.
• Developing more than 15 parks and playgrounds, with ongoing work to rehabilitate Paterson’s historic Westside Park.

“From day one, NJCDC has been about making sure every child and every family in Paterson has the chance to thrive,” said Guarasci. “This recognition is really about our community, our partners, and the people who believe that neighborhoods can and must work for the people who live there.”

The annual Governor’s Conference on Housing and Economic Development brings together leaders from across sectors to share strategies, strengthen partnerships, and explore solutions to New Jersey’s most pressing housing and economic challenges.

More information on NJCDC can be found at https://www.njcdc.org/.

For additional information, please visit njhousingconference.com 

About the Conference

The Governor's Conference on Housing and Economic Development is a premier event that unites leaders from various sectors to address the most pressing housing and economic development issues. Hosted by the New Jersey Department of Community Affairs, New Jersey Housing & Mortgage Finance Agency, New Jersey Economic Development Authority, and New Jersey Redevelopment Authority, this conference is a cornerstone for fostering dialogue, sharing innovative ideas, and promoting sustainable development practices.