New Jersey Data and Stories

State Fact Sheet

Map of Selected Projects in New Jersey

Community Testimonials

The NMTC programs help create sustainable social and economic impact for communities representative of the community I was born and raised in the Bronx. Also, it is a unique opportunity for MBE firms like mine to “do good and well” based on our knowledge of the industry and our knowledge of the markets we serve.

-Jeffrey Monge, Managing Partner, Monge Capital, Newark, New Jersey

Selected Projects in New Jersey

Social Profit Center Mill One

Hamilton Township,
NJ
(2019)

Community, Housing, Mixed-use

CDE(s): New Jersey Community Loan Fund

NMTC financing supported the renovation of a portion of a historic former mill building (Condominium Units A and A1), located at 1 North Johnston Avenue, Hamilton Township, Mercer County, NJ

Newark Arts Commons

Newark,
NJ
(2019)

Affordable Housing, Community, Daycare and Early Childhood, Historic Rehabilitation, Housing, Makerspace, Manufacturing, Mixed-use, Youth and Families

CDE(s): National Trust Community Investment Corporation

The new home of nonprofit art organizations and affordable studio space for local makers and artists.

Halsey Street Teachers Village Worforce Housing B

Newark,
NJ
(2018)

Community, Daycare and Early Childhood, Grocery and Fresh Food, Housing, Mixed-use, Retail, Retail and Commercial, Workforce Housing, Youth and Families, Youth Program

CDE(s): Bank of America, Building America CDE, Carver National Bank, GS New Markets Fund, National Community Investment Fund

Halsey Street Teachers Village Workforce Housing Project B, the last phase of larger development known as Teachers Village in downtown Newark, New Jersey.

Aerofarms – VEGS1

Newark,
NJ
(2018)

Timber and Agriculture

CDE(s): GS New Markets Fund, MBS Urban Initiatives, New Jersey Community Loan Fund

Improvement of a light industrial building and its temperature control systems to improve the operations of aeroponic vertical farming company; Industrial facility anchored by fresh food grower and distributor.

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.

Kearny Point Building 197

Kearny,
NJ
(2017)

Incubator, Manufacturing

CDE(s): GS New Markets Fund, New Jersey Community Loan Fund

A 130-acre former federal shipyard transformed into an environmentally sustainable business hub for innovation and economic growth.

The Station at Grant Avenue

Plainfield,
NJ
(2017)

Affordable Housing, Mixed-use

CDE(s): RBC Community Development

The project is the largest mixed use development the city has seen in more than 40 years. The NMTC portion of the project supported ABC Supply Co. Inc.’s recently opened

Accurate Box

Paterson,
NJ
(2016)

Business Development, Manufacturing

CDE(s): CRFUSA, New Jersey Community Loan Fund

This project provided financing for Accurate Box, a manufacturer of boxes and a family, women-owned business with a commitment to one of the poorest communities in NJ

Boys & Girls Club of Paterson and Passaic

Paterson,
NJ
(2016)

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

CDE(s): New Jersey Community Loan Fund

Renovation and expansion of two Boys and Girls club facilities.

Millville Arts Innovation Center

Millville,
NJ
(2016)

Adult Education, Business Development, College or Vocational Training, Community, Incubator

CDE(s): New Jersey Community Loan Fund

A new facility to house the expansion of Cumberland County College's arts and business education programs

975 High Street

Perth Amboy,
NJ
(2015)

Business Development, Disaster Recovery, Manufacturing, Sandy, Warehouse and Wholesale

CDE(s): CCG Community Partners

Adler Development, LLC renovated a 109,720 sqft warehouse that was severely damaged by Hurricane Sandy on October 29, 2012.

Aerofarms/Makers Village

Newark,
NJ
(2015)

Adult Education, Business Development, College or Vocational Training, Community, Culinary Entrepreneurship, Food Manufacturing, Incubator, Manufacturing, Retail

CDE(s): Dudley Ventures, GS New Markets Fund

AeroFarms, a mission-driven company, developed a 69,000 sq. ft. industrial site into the world's largest indoor vertical farm for baby leafy greens, producing up to 2 million pounds annually.