Sovereign Bank has given the Martin House Foundation a gift of $25,000. The funds will be used to continue construction of a 32-unit townhouse project currently underway on East State Street for very low-income families and individuals in the Wilbur section of Trenton. These houses were designed by Princeton architect Michael Graves.
Martin House provides no-interest mortgages for its residential units and all payments collected are invested back into continued housing development in the community. To date Martin House has provided more than 4,000 adults and children with housing and educational services, rehabilitated 102 homes, and built 42 new townhouses.
Of the 142 mortgages provided by Martin House, 64 have been retired. For more information about Martin House, call Michael Schneider at 973-868-1000.
The New Jersey Association of Realtors Housing Opportunity Foundation has given New Jersey Community Capital a donation of $57,900, an amount that represents one dollar for each member of the association. The funds will be used for the Neighborhood Development Initiative Predevelopment Loan Partnership Program, which provides predevelopment funds for affordable housing developed by nonprofit and community-based organization.
In previous years, NJARHOF contributions have enabled New Jersey Community Capital to secure the financing for rental and homeownership opportunities to low and moderate income families. Visit www.njar.com.
