New Jersey Data and Stories

State Fact Sheet

Map of Selected Projects in New Jersey

Community Testimonials

Valley National Bank has demonstrated a steadfast commitment to the New Markets Tax Credits (NMTC) Program, actively participating as an investor and providing strong support for the NMTC Program. With a notable track record, Valley National Bank has invested over $530 million in 49 impactful NMTC transactions, located in distressed communities across the nation. Our Community Development Entity, DV Community Investment, has provided $509 million dollars of NMTC allocation to 65 projects. These projects have yielded remarkable outcomes, including the creation of over 12,000 full-time jobs, over 12,000 construction jobs, and provided community and social services to more than 250,000 low-income individuals annually. NMTCs are incredibly beneficial, providing needed financing to rural and low-income communities facing profound economic distress. To continue to create these catalytic and positive outcomes, Valley National Bank strongly urges the NMTC Program to be made permanent.

-Bernadette Mueller, Valley National Bank, Morristown, NJ

Selected Projects in New Jersey

Lendistry Fund – Black Paper Party Project

Jersey City,
NJ
(2023)

CDE(s): USBCDE

Black Paper Party is an MWBE seeking working capital and debt refinancing to continue to provide holiday gift wrapping solutions.

MacMahon Student Center

Newark,
NJ
(2014)

Community, Retail, Retail and Commercial

CDE(s): Building America CDE, Chase, New Jersey Community Loan Fund

College Builds Bridge with Campus/Community Center

Hahne & Co. Department Store Building

Newark,
NJ
(2015)

Affordable Housing, Community, Grocery and Fresh Food, Housing, Mixed-use, Mixed-use and Commercial, Retail, Schools

CDE(s): New Jersey Redevelopment Authority

The Hahne's redevelopment includes careful restoration of the existing historic structure and the construction of a new twelve-story mixed-use building on an adjacent site.

Newark Call Center

Newark,
NJ
(2013)

Mixed-use, Office, Professional Services, Retail, Retail and Commercial, Sandy

CDE(s): CCG Community Partners, New Jersey Community Loan Fund, USBCDE

NMTC financing supported the rehab and new construction of two modern, mixed-use buildings in order to retain and attract tenants that provide diverse services to the Newark community, in the

Cap Solar Opportunities Fund

Hackensack,
NJ
(2011)

Energy, Loan Fund, Solar

CDE(s): Solomon Hess SBA Loan Fund

Invests in solar for community action agencies and nonprofits, saving them on utilities.

Second Street Youth Center

Plainsfield,
NJ
(2018)

Community, Daycare and Early Childhood, Shelters and Community Food, Timber and Agriculture, Youth and Families

CDE(s): Capital One, New Jersey Community Loan Fund

Early childhood educational and community center expands educational opportunities for Plainfield children.

Spruce Street Community Center

Lawrence,
NJ
(2015)

Boys and Girls Clubs, Community, Daycare and Early Childhood, Recreation, Youth and Families, Youth Program

CDE(s): New Jersey Community Loan Fund, Wells Fargo

NMTC financing supported the creation of the Spruce Street Community Center, a 35,000 sq. ft. multi-purpose facility open to any youth in greater Mercer County.

The Children’s Home Society of New Jersey

Trenton,
NJ
(2023)

Daycare and Early Childhood, Schools

CDE(s): New Jersey Community Loan Fund

New Spaces to Ensure New Jersey’s Youngest Residents Have Equitable Access to High Quality Early Development Opportunities

The Crossing at Brick Church

East Orange,
NJ
(2022)

FQHCs, Mixed-use

CDE(s): Dudley Ventures, Enterprise Community Partners, Local Initiatives Support Corporation, Mid-City Community CDE, New Jersey Community Loan Fund, PNC, The Reinvestment Fund, Urban Action Community Development

The Crossings at Brick Church Station is an urban, mixed-use redevelopment anchored by a 68,000 sq. ft. ShopRite Supermarket, 24,000 sq. ft. of retail space including 2,000 sq. ft. of