TRF Development Partners (TRF DP) has been designated as the developer for 44 new homes in Mount Holly, New Jersey. Selected by the Mount Holly Township, TRF DP will be redeveloping a parcel based on its development model that is designed to build healthy, vibrant communities.
TRF DP is a non-profit housing affiliate of The Reinvestment Fund (TRF) and a national leader in community development with broad experience in repositioning real estate assets and markets in the mid-Atlantic region. Known for its community revitalization work, TRF DP’s development model combines income integration with high-quality design that respects the fabric of the surrounding neighborhood and embraces local architecture. TRF DP has a regional investment portfolio which currently includes development projects of over 740 housing units in Delaware, Maryland, New Jersey and Pennsylvania.
TRF DP’s development in Mount Holly will incorporate housing opportunities for existing residents and attract new residents to the community. To achieve the balance between current and new residents, the development project will consist of 20 affordable and 24 mixed-income units.
“We are pleased to have this opportunity to work with Mount Holly to develop quality housing that revitalizes neighborhoods and builds healthy communities,” said Sean Closkey, President of TRF DP.
Funding for this project is coming from a variety of sources including several long term supporters of TRF’s work. They include the town of Mount Holly itself, the National Fair Housing Alliance, New Jersey Housing and Mortgage Finance Agency, Self Help Community Development, the Ford Foundation and the Open Society Foundations.
TRF is a nonprofit Community Development Financial Institution and a national leader in rebuilding America’s distressed towns and cities, through the innovative use of capital and information. TRF has four businesses that include lending, real estate development, policy research and data services. TRF’s capital comes from over 850 investors including banks, foundations, government, religious institutions and individuals.
About TRF Development Partners
TRF Development Partners is a non-profit housing affiliate of The Reinvestment Fund and a national leader in community development with broad experience in repositioning real estate assets and markets in the mid-Atlantic region. TRF DP seeks to create wealth and opportunity for the communities it serves by making real estate investments that reinforce community assets, revitalize downward markets and create suitable environments for market growth. To learn more, visit www.trfdp.com.
TRF is a national leader in rebuilding America’s distressed towns and cities through the innovative use of capital and information. TRF has invested $1.25 billion in Mid-Atlantic communities since 1985. A CDFI, TRF finances a variety of projects and activities including food access, health care, education and housing, to build healthy communities in under-invested places. TRF also provides public policy expertise by helping clients create actionable solutions and by sharing data and analysis via www.PolicyMap.com. To learn more about TRF, visit www.trfund.com