Neighborhood Stabilization Program

JRF buys and rehabilitates foreclosed or abandoned residential properties in the “Greater Budapest” neighborhood. The improved houses are sold to qualified low-income buyers.

Initially, 14 housing units (including some multi-family units) were selected for rehabilitation. All are expected to sell at prices ranging from $135,000 to $240,000. More units will be added to the list, incorporating other parts of the city.

Funding

The NSP grant is provided under the Federal Housing and Economic Recovery Act of 2008. It is administered by the New Jersey Department of Community Affairs. DCA distributes to Perth Amboy, with JRF as the sub-recipient.

More Information

Contact: Meyer Pincelli, (732)324-2114, ext 103, or meyer.pincelli@jrfnj.org