New Community And RPM Break Ground On New $27.4 Million Housing Development
Officials of New Community Corporation and RPM Development Group were joined by Mayor Cory A. Booker and other city and state officials in breaking ground for Springfield Village, a new $27.4 million development in Newark’s Central Ward that will feature affordable rental housing for low income individuals, families and seniors.
“This is a powerful partnership in my opinion,” Mayor Booker told an audience gathered under a tent for the October 9, 2012 groundbreaking ceremony that took place at 302-324 Springfield Avenue, near 15th and Morris A venues.
Edward Marchetta, executive director of the New Jersey Housing and Mortgage Finance Agency (NJHMFA), a major funder of the project, called the duo of New Community and RPM “a first class team.”
“You can solve a lot of problems in society if you provide good housing first,” he said, noting that NCC has created a “legacy” in the state of New Jersey when it comes to affordable housing development.
Slated for completion in the fall of 2013, Springfield Village is a mixed-use development comprised of a pair of five-story buildings that will feature retail space and a total of 120 rental units with amenities like onsite parking, rooftop terraces and energy-efficient design technology. Rental prices at Springfield Village will range from $252-$790 for a one bedroom; $299-$945 for a two bedroom and $927-$1065 for a three bedroom.
A total of 18 units in the Springfield Village will be set aside for persons with special needs, such as homeless veterans. Included in the building to be known as “The Plaza at Springfield Village” will be 5,700 square feet of ground level retail space as well as rental apartments.
Richard Rohrman, left, Director of Real Estate Development for New Community Corporation, and Edward Martoglio, president of RPM Development Group, at the construction site for Springfield Village.
The development will feature 50 units for families and 70 apartments for individuals 55 and over. It promises to transform a vacant parcel of land on one of Newark’s major corridors into a community asset, serving as a catalyst for the economic revitalization of the Springfield Avenue corridor, an area hard hit during the 1960’s civil unrest.
“New Community Corporation is committed to continuing its leadership role when it comes to creating quality low income housing and is proud to partner with RPM Development Group to make Springfield Village a reality,” said Monsignor William J. Linder, New Community founder and CEO.
Richard Rohrman, New Community’s Director of Real Estate Development, said there couldn’t be a better partner than RPM.
“We consider this area to be our neighborhood…we don’t let anybody into our neighborhood,” he said, an obvious reference to the New Community properties, including rows and rows of neat townhouses located within a stone’s throw of where Springfield Village is being constructed.
Edward Martoglio, president of the Montclair-based RPM Development Group, thanked the City of Newark, NJHMFA and the private banking community for their support in helping to bring quality, affordable housing to city residents. Both buildings will include community space where residents can come to be connected to social services through an on-site Resident Services Coordinator. Also planned are activities like job training, employment seminars, personal finance workshops and health and wellness activities.
“All people have an interest in dignity and the right to a nice place to live,” Martoglio said.
Insisting that Newarkers must be “first” in consideration when it comes to housing and jobs related to development projects, Booker praised Springfield Village for making this commitment. A state leader in affordable housing development, RPM is committed to hiring Newark residents for a minimum of 40 percent of its construction workforce, with Pearl Construction, a Newark-based contracting company, leading the way during Phase I. Hiring goals for minorities and women are also in place.
Funding for the project is derived from a combination of sources, including Low-Income Housing Tax Credits and the Special Needs Trust Fund. Permanent financing will come from NJHMFA.
Also contributing to the funding are the Affordable Housing Program of the Federal Home Loan Bank, and HUD Home Funds from the City of Newark.