ApprovedOther
518-540 South 16th Street affordable housing
Description
The council approved $1.07 million in Affordable Housing Trust Fund gap financing for 24 new apartments, amending the deal to require four deed-restricted affordable units instead of three.
Impact summary
24 new apartments in the West Ward, with city trust fund money helping close the financing gap and four units locked in as affordable for 20 years.
Applicant
- Name
- Ascension Capital Partners, LLC
- Address
- 518-540 South 16th Street, Newark, NJ (Block 333, Lots 58.01 and 69)
At a glance
- Hearings
- 1
- Public comments
- 0
- Total mentions
- 1
Last vote · City Council
Approved9–0, unanimous
Last discussed May 6, 2026.
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