Finding a reasonably-priced space to rest your head in Hudson county has become increasingly challenging in recent years, and affordable housing waiting lists are long, overbooked and usually closed. But Hoboken will be adding 115 new units to their affordable housing stock over the next few years, and the city is looking to streamline the process in the hope of helping the public better understand their options under the program.
In part to combat rapidly increasing housing costs, Hoboken passed an affordable housing ordinance in 2012 that regulated any new project in the city over 10 units that’s granted a density increase must make 10% of their units affordable. The ordinance, combined with a continued building boom, has helped create new affordable options for those who qualify.
When completed, 15 affordable units combined will be created in The Daten Group’s 600 Harrison Street, Bijou Properties’ 1410 Grand Street and Parkwood Development’s WonderLofts project at 721 Clinton Street. 42 affordable apartments will also be constructed at Bijou’s 700 Jackson Street project and six affordable units for homeless veterans will be created as part of the American Legion Post 107’s redevelopment at 308 2nd Street.
In addition, the city is fighting in court for 52 additional affordable apartments in the recently completed Harlow, Park + Garden and Vine properties, although the future of those units is unclear as a lawsuit ruling is being appealed.
So how does one get an affordable unit? Parties must submit a pre-application that demonstrates you meet several requirements set by the state, such as maximum income limits based on household size. Those limits and minimum income requirements can be found at the state’s website.
Locally, Hoboken will soon be launching an affordable housing portal operated by Community Grants Planning & Housing. Qualified renters and buyers will be able to submit pre-applications online after the site goes live, which should happen soon.
Additional notices will be sent out through the city’s alert system when the first rental units are marketed, which is anticipated this spring. Applications will then be collected through the website and the city will maintain two separate waiting lists – one for ownership units and one for rental units.
When the first affordable units become available for rent or sale, a lottery will be conducted including those who applied and are on the two waiting lists. Eligible households who draw the highest lottery number will be contacted and given 24 hours to respond if they want the unit and if so, they will be referred to the landlord or seller to pay an application fee, if required.
Applicants will then be “income certified” by CGP&H, which involves a review of the total gross income for the upcoming 12-month period of all adult household members who will reside in the affordable unit. For property sales, the buyer will enter into negotiations with the seller and execute a Purchase Agreement, eventually closing title to the property with an affordable housing deed restriction.
While the portal has not been launched yet, locals interested in applying for units should first check if they qualify for the program under Region 1 and sign up to Hoboken’s alerts for updates, which should come as early as next month.
