Garden State Episcopal CDC is creating housing solutions for municipalities. We are repurposing foreclosures as mixed income housing with half the subsidy of new construction. For just $50,000 of subsidy per unit we can acquire, rehab and complete a sale in just 7.5 months. This is compared to $100,000 in subsidy for new construction and a 2 year timeline. We work fast turning eyesore and liabilities into neighborhood assets, stabilizing property values and building a strong base for new comps. Our average per unit cost is $165,000 compared to $250,000 per unit for new construction. From 2010 to 2013, we rehabbed 13 foreclosures in Jersey City creating 26 units with a $4 million investment. Those homes generated $3 million in mortgage activity and $1.5 million in construction contracts that went to local contractors. Moving forward, we are rehabbing 27 units with $6 million. We are "Building Strong Communities." To find out more about GSECDC please visit: http://gsecdc.org/about-us/
Former Foreclosure to Future Asset
Garden State Episcopal CDC has completed another project in Greenville. GSECDC acquired a formerly foreclosed property, completed moderate rehabilitation and turned it into 4 units of housing. We think it is an improvement but we will let you be the judge.
291-297 Halladay Street...
...is Garden State Episcopal Community Development Corporation’s first home ownership project in the Morris Canal Section of Jersey City. It involved the new construction of 4 two family homes for moderate income buyers and renters. This project is made possible through the investment of the Jersey City Division of Community Development with a grant from the HOME Investment Partnership Program in the amount of $1,089,000 and through the acquisition of the vacant lots at nominal cost from the Jersey City Redevelopment Agency. Construction financing is being provided by TD Bank. Each of the homes includes a 3BR/2.5BTH duplex unit for the home owner with a bonus family room and a 3 BR rental. Each of the homes will be sold for $250,000 to first time home buyers. To date, GSECDC has built 240 units of affordable housing by redeveloping 93 scattered sites throughout Jersey City.
A ribbon cutting ceremony was held on at 297 Halladay on Monday March 10, 2014. In attendance was Ward F Councilwoman Diane Coleman, Senator Sandra Cunningham, Executive Director of Morris Canal CDC June Jones, Assistant Executive Director of Jersey City Redevelopment Authority Chris Fiore, Jersey City Mayor's Aide Doug Carlucci, and TD Bank representatives including Pat DiSanto.
Currently, three of the four homes are under contract with a the fourth soon to be under contract this week. All buyers are from Ward F and two are from the Morris Canal neighborhood.
This site is dedicated to:
Benjamin (April 14th 1916- 1983) & Queen Esther Thomas (October 5th 1917- March 10th 2007)
Queen Esther Hogan was married to Benjamin Thomas and together they opened a restaurant on 572/574 Grand Avenue called “Queen & Ben’s” in the 1950’s. It was very rare to see an African American owned business. In addition they were owners of the neighborhood store located on the corner of 125 Maple Street and Halladay Street. Raising 4 sons Benjamin, Bernard, Ballard (deceased) and Bryan Thomas. Three served the United States of America as decorated Air Force officers in Vietnam. The Thomas family regularly fed the hungry and provided assistance when residents required legal information teaching them how to establish credit. In the 1950’s social services weren’t available and the Thomas family offered assistance utilizing 125 Maple Street on the weekends to provide dental care for neighborhood children free of charge. Queen Esther Thomas became politically active in 1954 and was the district committee person. In 1955 she ran in a very close race for a seat in the state assembly becoming the first African American woman to run for this office. Millionaire mogul Malcolm Forbes creator and founder of Forbes Magazine was compelled to send Queen Esther a personal telegram congratulating her on a well fought race.
Queen Esther Thomas was an active member and usherette at Monumental Baptist Church for many years. The marriage union between this loving couple lasted 46 years before Benjamin passed away in 1983. Queen Esther departed Jersey City to spent her golden years in North Carolina and then eventually being laid to rest in Arizona with each one of her surviving sons by her side. Always community first, without fanfare, Benjamin and Queen Esther Thomas are being recognized for the unselfish commitment to the community and the people they sincerely loved in the Lafayette-Greenville community.
Garden State Episcopal Community Development Corporation (GSECDC) is proud to have held a ribbon cutting event for the Bergen Court Apartments. After the building sat vacant for 10 years, GSECDC successfully partnered with HMFA, Jersey City, Hudson County and New Jersey Community Capital to substantially rehabilitate this facility. The project located at 242 Bergen Ave, Jersey City includes 12 affordable housing units, eight two-bedroom units with rents below 60% of the area median income and four one-bedroom units that are set aside for chronically homeless individuals with disabilities.
Read more about the project on the Together North Jersey website.
The GSECDC, which changed its name from Jersey City Episcopal CDC in January (2011), is looking to push through with a project in Jersey City’s Greenville neighborhood as well as provide affordable housing in Bayonne, Union City and Passaic County. As they prepare to move forward, they will also celebrate their previous success with a gala at...Read More
A foreclosed home in Jersey City will soon be acquired and revitalized by the Garden State Episcopal Community Development Corporation (GSECDC) thanks to a $75,000 grant from the people at Wells Fargo Housing Foundation. The grant for the two-story home comes as part of an effort to...Read More
Garden State Episcopal Community Development Corporation will be holding an inter-faith Homeless Memorial Service Wednesday, December 21st, to...Read More
The families, city officials, and staff members of the Garden State Episcopal Community Development Corp. joined together yesterday to cut the ribbon on the five new two-family buildings at 34, 36 and 40 Van Nostrand Ave. and 15 and 17 Oak St.Read More