The New Jersey Housing and Mortgage Finance Agency (NJHMFA) has awarded more than $27 million in annual 9% low-income housing tax credits (LIHTCs) to help provide more than 1,300 affordable housing units in the state.

The housing credits are expected to generate more than $254 million in private investment to create 21 developments in 12 counties.

“A focus of our program is on high opportunity municipalities with high performing school districts, access to transportation, and proximity to other positive land uses such as to hospitals and grocery stores,” said NJHMFA executive director Charles A. Richman. “LIHTCs have been instrumental in spurring developments that change the lives of many of New Jersey’s most vulnerable residents.”

With awards in areas such as Holmdel, Princeton, and Saddle River, and a combination of mixed-income and 100% affordable projects, these awards help drive NJHMFA’s goals of deconcentrating poverty and encouraging development in communities of high opportunity, said officials.

There are three awards to projects in Opportunity Zones in East Orange, New Brunswick, and Trenton, which are instrumental in driving long-term capital investments and bringing a range of housing affordability to low-income rural and urban communities, according to NJHMFA. A focus of the LIHTC awardees is also on essential support service infrastructures for our most vulnerable residents; health and wellness programs, job training, and education and enrichment opportunities can be found with multiple awarded projects.

Since the inception of the LIHTC program, more than 60,000 apartments have been created in New Jersey.

Here is a breakdown of the latest allocation round:

LIHTC AWARD TOTALS

(FAMILY, SENIOR, SUPPORTIVE HOUSING, AND MIXED-INCOME)

_{FAMILY DEVELOPMENT AWARDS}

SENIOR DEVELOPMENT AWARDS

SUPPORTIVE HOUSING DEVELOPMENT AWARDS

MIXED-INCOME RESERVE AWARDS