Affordable Housing Trust Fund 2027

The Affordable Housing Trust Fund 2027 is a state grant opportunity administered by the New Jersey Department of Community Affairs to support the development of senior housing for individuals aged 62 and older and supportive housing for special needs populations. Eligible projects must adhere to Uniform Housing Affordability Controls and utilize the New Jersey Housing Affordability Service as the administrative agent for unit lease-ups or sales. Applications are due by November 19, 2026, and must be submitted through both the SAGE Grant Application Portal and the HPU Document Submission Portal. To be considered, applicants must possess a NJStart Vendor ID and a SAM.gov number, and submit a project proforma specifically in Excel format along with signed certifications including Schedules G, H, I, and an Application Cover Sheet. The award process involves a two-step evaluation consisting of a threshold review for minimum requirements followed by a scored review. Scoring is based on financial feasibility and project readiness, leveraging, construction and operating cost reasonableness, and the capacity and experience of the development team. Priority points are available for non-profit developers, projects in difficult-to-develop areas, and those providing family-sized units. Projects are expected to begin construction within 12 to 18 months and reach completion within four years of funding. Strict underwriting constraints are enforced, including a maximum developer fee of 8 percent, a maximum soft cost limit of 28 percent, and a minimum debt service coverage ratio of 1.20.