Outstanding Municipal Partners:Princeton Community Housing and the Municipality of Princeton

25 new affordable homes are now available to very low-, low-, and moderate-income eligible households in the Municipality of Princeton. A significant portion of the project funding, more than $2.2 million, was achieved through the financial support of the Princeton community in response to a capital campaign, launched by Princeton Community Housing. In addition, the Municipality of Princeton contributed $2.1 million in affordable housing trust funds to the development. The Municipality also supports the ongoing operations of the new apartments and the existing community through a Payment in Lieu of Taxes (PILOT) agreement. The all-electric new building is constructed to meet or exceed Enterprise Green standards, the new stormwater system is constructed to meet or exceed state and local water quality requirements, and the new building is constructed on an existing surface parking area, thereby preserving valuable woodlands and watershed areas.