Springview awarded $2 million in 9% LIHTC tax credits

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) has awarded Springview, a five-story, 100 percent affordable housing project for families in Newark, NJ, $2 million in 9% low-income housing tax credit funding. The project, located at 569 Springfield Ave., will bring 63 new affordable housing units to the city and expand Foya Development Group’s portfolio of Newark-based affordable housing projects.

Thriven Design is providing professional Architecture, MEP/FP Engineering, and Interior Design services for Springview, which will feature a mixture of one-bedroom, two-bedroom, and three-bedroom apartments. The residential portion will be wood-framed construction atop a concrete podium / garage structure. The ground floor will include a lobby, two retail tenant spaces, a community room, management offices, and amenities. The second level will feature a fitness center and clubhouse that will open out to a small amenity deck.

Each apartment at Springview will feature an in-unit washer and dryer, an unusual, highly desirable upgrade from a common laundry area which is more standard in affordable housing construction.  All apartments will also include energy-efficient appliances and energy-saving features designed to assist tenants with managing ongoing utility costs.

The project is the latest from real estate and restaurant developer Adenah Bayoh and her Foya Development Group, which has a growing footprint throughout Newark’s South Ward. Her team is already under construction with Southside View, a 40-unit, 50,080 sf multifamily housing project located at 654-668 South 11th Street in Newark that was awarded 9% tax credits in 2023. Thriven Design is providing Architecture, MEP / FP Engineering, Interior Design, and Energy Program services for this project, which is slated for completion in 2025.