NJHMFA Approves Financing for Special Needs Housing in Waldwick

TRENTON, NJ — The New Jersey Housing & Mortgage Finance Agency is proud to support the development of a new supportive housing community in Waldwick, one of New Jersey's most competitive housing markets. This new 8-bedroom complex, comprised of two two-story residences, will help ensure individuals with special needs have access to safe, affordable housing and the opportunity to live independently in the community they call home.

The $2.6 million development is being financed with more than $1 million from New Jersey Housing Mortgage and Finance Agency's Special Needs Housing Trust Fund, as well as funding from Bergen County's HOME Investment Partnerships Program and the Federal Home Loan Bank. Its first residents are expected to move in in 2027.

Located on Wyckoff Avenue in a predominantly residential neighborhood, the property will provide residents with convenient access to local services, healthcare, transportation, and other community resources that support independent living and long-term stability. Developments like this help ensure that individuals with developmental disabilities and other special needs can thrive in high-opportunity communities close to family, employment opportunities, healthcare providers, and support networks.

"This essential development will help address the demand for supportive housing in Bergen County by creating safe, affordable homes where individuals with special needs can live independently and remain connected to the communities they call home," said Melanie R. Walter, Executive Director of NJHMFA. "Every New Jersey resident deserves access to housing that promotes stability, dignity, and opportunity. Through continued Special Needs Housing Trust Fund investments, NJHMFA is expanding supportive housing across the state and helping more residents access the housing and services they need to thrive."

The financing will support both the construction and long-term viability of the development, creating permanent housing opportunities for residents who often face significant barriers to securing safe, affordable homes.

The Special Needs Housing Trust Fund was established to create permanent supportive housing opportunities for individuals with developmental disabilities, mental health needs, and other populations requiring supportive services. 

About Us: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs. To learn more about NJHMFA, visit: njhousing.gov