Wednesday, May 20, 2009

Affordable Housing in Montclair

HOMECorp has recorded a number of successes in its mission: to provide safe, permanently affordable homes in Montclair and to promote neighborhood development. As an organization, HOMECorp seeks to strengthen the community fabric by assisting families who are largely disenfranchised from the booming housing market in Montclair. They are an ecumenical, community-based non-profit organization that is the only entity in Montclair spending all of its time and resources on providing affordable housing.

Since its founding in 1988, HOMECorp restored and built new 19 dwellings (33 units) and 43 apartments in Montclair. Once barely habitable, these existing properties housed in excess of 260 homeowners and tenants, transforming a neighborhood of deteriorating rental units to one characterized by new energy and the optimism of first-time homeowners. In addition, HOMECorp's efforts have spurred private development of adjoining properties, further improving the housing stock.

HOMECorp has restored 18 historic houses in Montclair's Historic Mill District, transforming a run-down, distressed area into a comfortable, stable residential neighborhood.

This morning, we previewed HOMECorp's latest project: a 3 BR Colonial, in decent shape with curb appeal, for 290k. A short walk to the center of Montclair and MidTown Direct RR, the taxes are reasonable(for Montclair) at $7500.

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