Affordable Housing Plan for Central Ward

Primary Goals:

  • Keep Native Newarkers in the Central Ward by providing priority access to affordable housing.

  • Partner with local universities and businesses to offer affordable housing for qualified employees and students.

  • Allocate 20% of all new housing units for government determination, ensuring the right balance of residents, focusing on long-term locals and critical employees/students from partner institutions.

Partnership Framework

Universities and Businesses: Work with institutions like Rutgers-Newark, NJIT, Audible, Prudential, and Mars Wrigley to create a housing pool for qualified employees/students.

Affordable Housing Fund: Businesses and universities contribute to a fund that helps subsidize the construction and maintenance of affordable units. This would allow them to directly support workforce housing in exchange for guaranteed housing allocations for their employees.

Public-Private Collaboration: Developers, businesses, and universities collectively fund 40% of the total cost of affordable units, with the city contributing the other 60% through grants and tax incentives.

Incentives for Developers: Offer tax breaks, fast-tracked zoning approvals, and other benefits to developers willing to commit a percentage of new units to affordable housing.

Allocation of Units

20% of All Units for Government Selection: 

  • The government will manage this portion, using a transparent application process to ensure these units go to native Newarkers, with priority given to long-term residents, working-class families, and at-risk populations.

  • Income Bracket Prioritization: Establish clear income brackets for eligibility to ensure units are available to low and moderate-income residents, native Newarkers, and essential workers.

Supporting Native Newarkers

Priority for Long-term Residents: Create criteria that ensure Newarkers who have lived in the Central Ward for over 20 years have priority access to new affordable units.

Anti-Gentrification Safeguards: Work with the Newark Housing Authority to establish a maximum allowable rent increase percentage for existing residents to prevent displacement.

University and Business Employee Housing

Targeted Employee Housing: Designate units specifically for university staff, entry-level professionals, and small business employees. This supports recruitment for local institutions while maintaining diversity in resident backgrounds.

Workforce Integration: University and business employees living in the community will benefit from proximity to work and contribute to the local economy, supporting small businesses and local infrastructure.

Long-term Sustainability

Shared Financing Model: Universities, businesses, and developers will pay an ongoing contribution to ensure long-term affordability, supported by government funds and grants.

Rental Assistance Program: Establish a city-run fund that can offer temporary rent assistance to residents during financial hardship.

Community and Stakeholder Involvement

Advisory Council: Create a Newark Affordable Housing Advisory Council made up of local residents, developers, business leaders, and university representatives. This group will oversee policy implementation, ensure local input, and monitor the allocation of housing units.

Annual Audit: Conduct audits of the program annually to ensure compliance and transparency.