Photo (l-r): Jersey City Mayor Steven Fulop, Newark Office Acting Director Annemarie Uebbing, Vice President at the Frankiln Group Richard Richardi, and Jersey City Councilman Michael Yun
On Thursday, May 22, Newark Office Acting Director Annemarie Uebbing spoke at the grand opening of Cambridge Manor, an 11-unit moderate-income condominium community in the Heights section of Jersey City. HOME Program funds were used for this development, and additional financing was provided by New Jersey Community Capital. Mayor Steven Fulop and other officials also participated in the ceremony. These workforce homeownership units are priced at $160,000 for qualified purchasers with annual incomes of approximately $60,000, including teachers, government employees and administrators.
"HUD is charged with creating homeownership opportunities and a suitable living environment for every American," said Ms. Uebbing. "Study after study continue to show that homeownership reinforces family stability, responsibility, asset-building and self-esteem. That is why I am so proud that HUD is part of a partnership that has created 11 new and affordable homes for hard-working families. Our mission of improving people's lives and strengthening neighborhoods is shared by our wonderful partners. I wish to congratulate the City of Jersey City, New Jersey Community Capital, and Franklin Development Group for their faith and belief in this city and its residents."