Hildebrand Commons awarded $20.1 million in Aspire tax credit funding

The New Jersey Economic Development Authority has awarded Hildbrand Commons, a 6-story affordable senior development in New Brunswick, NJ, up to $20.1 million in Aspire tax credit funding. The funding will enable project developer Hoffman Housing Urban Renewal Associates, LLC, an affiliate of Pennrose, to further its transformation of the former Hoffman Pavilion public housing site and create 66 units of housing, including five units reserved for formerly homeless individuals.

Thriven Design is providing professional architectural services for the project, which will include 26 units reserved for residents making 60 percent of the area median income, 26 homes for those at 50 percent of the AMI and 13 for income levels of 30 percent of the AMI. The development will also have five special-needs units reserved for homeless individuals, ground-floor parking, on-site supportive services, energy-efficient features, a community room, and shared resident amenities.

Hildebrand Commons is named in honor of The Reverend Henry A. Hildebrand, who served as pastor of New Brunswick’s Mount Zion African Methodist Episcopal Church for 37 years. Hildebrand was known for his community outreach and ministry, especially to seniors.

Hildebrand Commons is the third Thriven Design project to receive funding through New Jersey’s Aspire program since its inception in 2020 as part of the Economic Recovery Act. In July 2024, NJEDA granted the South Ward Wellness Center, for which Thriven Design is providing architecture, engineering, and interior design services, $21.7 million in Aspire funding. In July 2023, Terrell Homes, for which Thriven Design is providing architecture, engineering, and master planning services, received $8.9 million in Aspire funding.

This November’s award of $20.1 million Aspire award for Hildebrand Commons represents up to 60 percent of the total project development cost. Hildebrand Commons has also received 4% low-income housing tax credits from the Housing and Mortgage Finance Agency.

The project is estimated to break ground in 2025 and reach completion in 2026.