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On September 18th, New Jersey Governor James McGreevey
and various local officials dedicated Corinthian Grace Estates, a
23-townhouse development on Holland Street in Newark. The $3.8 million
development, sponsored by the Corinthian Housing Development Corporation
is an example of how HUD funds can be partnered with a variety of
other local government programs and private financing for the purpose
of achieving redevelopment in urban areas. In this instance, this
development is part of a larger and much needed revitalization plan
for a portion of Newark's West Side.
The townhouse development consists of three- and four-bedroom
homeownership units, eleven of which are for moderate-income families
with twelve being subsidized for lower income homeowners. The homes
range in price from $99,000 to $120,000. The funding for the development
included nearly $360,000 for construction from HUD's
Home Investment Partnerships Program (HOME), $1.7 million from
the New Jersey Housing and Mortgage Finance Agency's Urban
Homeownership Recovery Program and private funding from a number
of local banks.
This project is just a portion of a larger revitalization plan
being pursued by Corinthian Housing Development Corp. (CHDC), an
organization created by the First Corinthian Missionary Baptist
Church of Newark. Having already constructed 96 units of rental
housing, CHDC has overall plans to develop a 15-block area in the
surrounding community with housing, retail and daycare services.
As indicated by Dwight Walker, CHDC's Executive Director, CHDC sees
its plan as more than just housing, but one that improves the quality
of life in the area and creates community.
As part of this more comprehensive plan, CHDC was awarded a HUD
Safe Neighborhood Grant for $250,000. This grant was used for improving
the overall security of the area and for the purchase of a Mobile
Command Center Vehicle that is being used by the Essex County Sheriff's
Office to patrol the CHDC community area. Additionally, CHDC was
also awarded HUD New Approach Anti-Drug grants in the amount of
$494,000. These funds will be used to fund the operation of an overall
community security partnership. Portions of those funds will be
used to hire local Essex County Sheriff's Department and Newark
City Police officers to patrol the CHDC community area, as well
as to augment those efforts through the hiring of private security
agents. In addition, the physical security of the area will be improved
(lighting, etc.), and a Neighborhood
Network computer center will be established to improve the quality
of life of residents in the area.
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