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GLENN D. CUNNINGHAM MAYOR CITY HALL JERSEY CITY, NJ 07302 TEL:(201) 547-5200 FAX:(201) 547-4288

JERSEY CITY - Mayor Glenn D. Cunningham will break ground on multi-million dollar affordable housing development on Ocean Avenue at the intersection of Armstrong Avenue at 11 a.m. on Friday, March 26, 2004.

The project, which is being financed through the New Jersey Housing & Mortgage Finance Agency UHORP, The Bank of New York, and the U.S. Department of Housing and Urban Development's HOME Program, is the first of its kind for the area and is part of Mayor Cunningham's Golden Neighborhoods initiative.

"I am excited to see development, especially affordable housing, taking place in our inner city," Mayor Cunningham said. "When I became mayor, I made a pledge to bring development from the waterfront into the city to create Golden Neighborhoods. This project is part of Ocean Avenue's Golden Neighborhood."

The development, being built by North Stelton Economic Development Corporation, will consist of 20 two-family homes and three single-family homes and will range in price from $100,000 to $200,000. The homes are scheduled to be completed by late Fall of 2004.//// 

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