GARWOOD, NJ – December 16, 2013 – (RealEstateRama) — New Jersey Department of Community Affairs (DCA) Commissioner Richard E. Constable, III, and New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta recently announced the groundbreaking of Westfield Senior Housing, a 72-unit affordable rental development in the Borough of Garwood, Union County, for seniors age 62 and older. The HMFA, an affiliate to DCA, has awarded the project federal Low Income Housing Tax Credits, which is estimated to generate more than $5.5 million in private equity, and will provide $11.1 million in construction financing.
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