Tantum Real Estate recently joined community leaders and elected officials to celebrate the grand opening of a new affordable housing property for veterans and the formerly homeless in Jersey City. The building is located at 526 Ocean Avenue in the city’s Greenville neighborhood and houses a collection 20 apartments and a 1,500-square-foot community space on the ground floor.
Rear view of 526 Ocean Avenue, now complete – Courtesy of Tantum Real Estate
The community space will be occupied by Collaborative Support Programs of New Jersey, a peer-led, not-for-profit agency that provides services related to food access, employment, mental health assistance, and peer support groups for at-risk populations. Housing affiliate Community Enterprise Corporation will serve as property manager for the building.
Financing for the project was arranged by Tantum and includes funding from Jersey City’s Affordable Housing Trust Fund, in addition to capital from The HOME Investment Partnerships Program. The developer also worked with Hudson County Continuum of Care to identify qualified veterans and community residents in need of housing.
“Today is a culmination of a years-long endeavor for Tantum, and a victory for our broader mission to foster a greater quality of life in communities throughout the region,” said Debra Tantleff, founding principal of Tantum. “The redevelopment of this property through public-private-partnership provides a roadmap for how governments and developers can collaborate to execute a new class of boutique affordable housing initiatives that address a significant societal need.”
To honor all veterans, Tantum commissioned a new street-level mural from artist Vincent Ballentine along Ocean Avenue. Titled “Red Tales,” the mural depicts two Tuskegee Airmen and WWII aircraft, an homage to the heroic Black pilots that served the United States during the war.
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Awesome and much more needed to care for veterans!