Trenton Ferry condos built by HHG have received a $2.3 million subsidy from NJ HMFA under its innovative CHOICE Program. This is a key reason why HHG can deliver such high-quality housing at such attractive prices. Our prices are actually below our cost.
16 of the Cracker Factory lofts, and all 8 of the Everett Corner condos are defined as "Emerging Market Units" (EMUs) under the program. These units can be sold at market prices, without income restrictions of any kind. Subsidies range from $65,000 to $85,000 per unit. If you resell your unit at a profit, you will be required to apply a portion of your profits towards repaying the subsidy (typically 25% of your profit if you've lived in your unit for at least 3 years). Click here for more information.
Additional information is available from HHG and the public offering statement for the Cracker Factory. |