The Brunswick Estates, a 131 unit affordable housing complex on Montgomery Street, is getting a $40 million upgrade. WinnDevelopment, the development organization of WinnCompanies announces that, with the help of eight partners both public and private, they’ve raised the money to acquire and rehabilitate the complex.
Of the $40 million raised, $2 million came from Jersey City’s Affordable Housing Trust Fund.
According to Globe Street, the eight partners are:
“The City of Jersey City, including the Jersey City Department of Community Development; the New Jersey Economic Development Authority; the New Jersey Housing and Mortgage Finance Agency; Citi Community Capital; The Richman Group Affordable Housing Corporation; New Jersey Community Capital; Boston Community Capital; and Greater Bergen Community Action.”
Improvements include interior and exterior upgrades, repairs to damage caused by Hurricane Sandy as well as quality of life improvements such as community space, green space, and enhanced security.
The work is expected to create 70 construction jobs.
A ground breaking ceremony is scheduled for March 10th.
