Atlantic City Advances Affordable Housing with NJEDA Support

The New Jersey Economic Development Authority (NJEDA) recently approved a major investment in the Garden Court Apartments on McKinley Avenue, preserving 177 fully affordable rental units across 20 buildings. The rehabilitation will provide safe, modern homes for low- and moderate-income families while connecting residents to education, employment resources, and financial literacy programs through Gateway Community Action Partnership.

This $53.3 million project—supported by the state’s Aspire Program and Low-Income Housing Tax Credits—underscores a shared commitment to affordable housing and economic revitalization. Aspire is a performance-based initiative created under the New Jersey Economic Recovery Act of 2020 to help close financing gaps for transformative mixed-use and transit-oriented projects. All Aspire-supported residential developments must include at least 20 percent affordable housing, ensuring that inclusivity is built into every plan.

“This is a tangible step toward improving our city’s housing stock,” said Mayor Marty Small, Sr. “Through the partnership of Governor Murphy and the NJEDA, we are creating stronger, more resilient communities for Atlantic City residents.”

Part of a Larger Statewide Effort

Atlantic City’s progress is part of a broader New Jersey initiative. Statewide, NJEDA recently approved over $143 million in tax credit awards to create or preserve 537 housing units, including 267 affordable residences, in cities like Jersey City and Atlantic City. NJEDA Chief Executive Officer Tim Sullivan noted that the Aspire Program continues to “drive forward transformative development, ensuring access to affordable homes while building stronger, more resilient communities.”

Building for the Future

For Atlantic City, the Garden Court project reflects the city’s broader vision:

• Revitalizing neighborhoods by preserving existing housing stock.
• Supporting residents with wraparound services that promote upward mobility.
• Strengthening economic growth through state and local collaboration.

As Great Day Atlantic City celebrates the people and projects shaping our city’s future, the Garden Court Apartments stand as a clear example of what’s possible when public investment, community action, and visionary leadership come together.

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Photo Credit: New Jersey Economic Development Authority