Helping Families Meet Their Housing Needs
Since 1996, IFN has constructed 55 affordable homes in Asbury Park and Neptune. 45 of these are single family homes that were sold to low to moderate income families, while ten of these are affordable rental units. The completed homes are sold to low to moderate income families at the net cost to construct, making the purchase price significantly lower than market value. IFN receives its return of capital from the sale proceeds and uses the proceeds to invest in our next home renovation or construction project.
Fueled by the infusion of $25,000 from the New Jersey Natural Gas Company [NJNG] and working in conjunction with the Governor’s Adopt-A-Neighborhood Program, Interfaith Neighbors [IFN] launched a Homeownership Program in 1996. This program focused on renovating boarded-up homes and developing new construction to create homeownership opportunities for low income, working families.
The Interfaith Neighbors Affordable Housing is designed to provide home ownership opportunities at reduced cost for low income working families. Homes are either built or renovated by Interfaith Neighbors, Inc., a licensed New Jersey Home Builder, working in concert with local municipalities, corporate sponsors, sub-contractors and individual volunteers.