SOLD: 76 Belmont Avenue

Contact us @ 201-209-9301 x302 or x315 or email realestate@gsecdc.org for more information.

Addresses: 76 Belmont Avenue, Jersey City, NJ 07304

  • $285,000 Sales Price
  •  $1,100 Owner's Monthly Cost (Not Including Utilities)
  • Minimum Income To Afford $43,500*
  • Two-Family Home
  • 4 Bedrooms 1 Bathrooms for Owner
  • 2 Bedroom 1 Bathroom
  • Backyard & Finished Basement
  • Located in Bergen Hill Near Saint Peter's College
  • Completely Renovated
  • Construction Completion July 2015

* Based on 30 year fixed mortgage, 3.75% Interest, 3.5% deposit.

Financial dynamics fluctuate depending on lenders terms and buyer deposit.

Eligibility Restrictions

Household SizeMax. Income
1 Person$52,750
2 People$60,250
3 People$67,800
4 People$75,300
5 People$81,350
6 People$87,350
7 People$93,400


How Do I Apply? 

Interior Finish Concept

Interior Blueprints

(click below to enlarge images)

UNDER CONTRACT: 63 Gardner Avenue

Contact us @ 201-209-9301 x302 or x315 or email realestate@gsecdc.org for more information.

Addresses: 63 Gardner Avenue, Jersey City, NJ 07304

  • $180,000 Sales Price
  •  $1,275 Owner's Monthly Cost (Not Including Utilities)
  • Minimum Income To Afford $50,000*
  • Single Family Home
  • Located in Up & Coming Bergen Hill
  • 3 Bedrooms / 1.5 Bathrooms.
  • Private Driveway with 3 car parking.
  • Backyard and Front Porch
  • Completely Renovated
  • Construction Completion September 2015

* Based on 30 year fixed mortgage, 3.75% Interest, 3.5% deposit.

Financial dynamics fluctuate depending on lenders terms and buyer deposit.

Eligibility Restrictions Apply

Household SizeMax. Income
1 Person$42,950
2 People$49,050
3 People$55,200
4 People$61,300
5 People$66,250
6 People$71,150
7 People$76,050

How Do I Apply? 

Interior Finish Concept 

Interior Blueprints

(click below to enlarge images)

Solutions for Foreclosures

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/

The Weber Briar Project is Underway

Description:New construction of 9 two family homes. 18 housing units total.

Location:134-142 Cator Ave and 33-39 New Street, Jersey City, NJ

Budget:$3.552M

Project Plans

Weber Friar Concept

This project involves the acquisition, demolition of existing building and new construction of nine (9) two family homes for a total of 18 units. Each of the 2,600 square foot homes will sell for $195,000 and would be affordable to families earning a minimum of $31,000 annual or at 46% of the AMI.

The homes will be sold to low to moderate income buyers who will rent the rental unit to a low/moderate income family. The owner’s unit would be on the second level with three bedrooms and two baths, with garage parking on the first level.  The rental unit will be a 2 bedroom apartment, located on the first floor.  We are proposing roughly gross square footage of 2600 per home.  Other amenities include spacious living room, formal dining room, ample closet space, hard wood floors.  Kitchen features include Energy Star appliances that include stainless steel gas oven/range with range hood, stainless steel refrigerator, stainless steel dishwasher and easy clean laminated kitchen counter-tops.  The homes will have central heating and ventilation and hook ups for washer and dryer.   All homes will have backyards and a ten-year New Home Owner Warranty.

Existing Conditions

Housing Development Pipeline 2014

Below is a list of projects still under development or about to start. GSECDC's Division of Housing and Community Development is hard at work making these projects a reality. With a pipeline of $13,068,000, GSECDC will create 64 units on 31 sites serving 210 people. All of these projects are expected to be complete by the end of 2015. Garden State Episcopal CDC is building strong communities. 

Project Description Completion Date Unit Count Development Cost Number of Sites People Served
Neighborhood Recovery Program Phase 2 Home ownership, acquisition, rehab and resale of foreclosed two family homes Jun. 2015 10 $1,355,000.00 5 35
Bergen Hill Scatttered Site Strategy Home ownership, acquisition, rehab of single and vacant two family homes Jun. 2015 4 $1,081,000.00 4 18
Weber Friar Homes Home ownership, new construction on vacant lots Dec. 2015 18 $3,575,000.00 9 63
Neighborhood Recovery Program Phase 3 Home ownership, acquisition, rehab and resale of foreclosed two family homes Sep. 2015 10 $1,765,000.00 7 35
Hobart Project Special Needs rentals, new construction May. 2015 11 $3,032,000.00 1 20
Ocean Avenue Low and Moderate income rentals, new cosntruction Dec. 2015 5 $1,305,000.00 2 18
NRP Rental Rental, acquisition, rehab of foreclosed two family homes Dec. 2015 6 $955,000.00 3 21
Subtotal Predevelopment 64 $13,068,000.00 31 210

Progress 9.17.13 - Halladay Homes

Construction Progress at 291-297 Halladay Street. Exterior facade and vapor barrier is going up. Check out the nice brick work.  Next up, walk through of the interior. We are accepting applications for presales. To apply click here. 

Progress 7.30.13 - Halladay Homes

Construction Progress at 291-297 Halladay Street. Framing up and some of the windows are in place. Next up, interior and facades.  We are accepting applications for presales. To apply click here. Check out the pictures and video.

Bergen Court Apartments - Nearly Complete & Now Leasing

Check out the latest construction pictures of the Bergen Courts Apartments. Located at 242 Bergen Ave in Jersey City, this property laid vacant for several years. We here at GSECDC are proud of our work and excited that it is nearly complete. To check for availability please call 201-209-9301 Extension 301.

APPLY NOW for one of eight two-bedroom apartments priced at $774 per month.  

Progress 4.26.13 - Halladay Homes

Construction Progress at 291-297 Halladay Street. Plumbing being completed so that we can pour concrete for foundations.  We are accepting applications for presales. To apply click here.