HOBOKEN, NJ – The city of Hoboken announced that applications are now open for the City’s Affordable Housing Capital Fund (AHCF). Non-profit organizations and public agencies located within Hoboken and serving Hoboken residents can apply for funding to support affordable housing initiatives.
The Affordable Housing Capital Fund, established by developer contributions through an Oct 17, 2012, ordinance, is designed to finance affordable housing projects “as part of the city’s ongoing commitment to provide housing opportunities for residents of all income levels.”
The ordinance requires that all expenses from the fund be allocated toward general capital improvements and workforce housing initiatives to address critical affordable housing needs.
Applications must be submitted to cwolf@hobokennj.gov no later than Feb. 28, 2025, at 4 p.m. Detailed application requirements and submission guidelines can be found at www.hobokennj.gov/resources/affordable-housing.
In Hudson County, the popularity of the area has caused rents to spike sharply in the last few years, causing some tenants to face increases they were not expecting. The median rents in Jersey City and Hoboken have risen to more than $4,000 per month — among the highest in the nation.
Wait lists for the existing affordable housing in the area have thousands of names.
For more information about the Affordable Housing Capital Fund or the application process, contact Principal Planner Cathleen Wolf at cwolf@hobokennj.gov.
