NJEDA Approves 2,078 Housing Units Through Aspire Program in Camden, Trenton

The New Jersey Economic Development Authority recently approved Aspire tax credit awards for residential development projects in Camden and Trenton, contributing to the creation of 2,078 housing units in 2024, with 710 designated as affordable. However, many towns in Monmouth and Ocean counties are resisting the state-mandated affordable housing obligations, claiming the calculations are inaccurate and that they lack sufficient land for development. Holmdel Township, for instance, voted to comply with the state’s requirements but challenged the number of units assigned to them, stating it was excessive. This pushback comes as municipalities grapple with the dual pressures of rising housing costs and community concerns about overdevelopment. Advocates stress that the new housing laws aim to address the pressing need for affordable homes amid escalating prices, which have made housing increasingly unaffordable for middle-class families. The ongoing disputes highlight the tension between state mandates and local community impacts regarding affordable housing development.