New Jersey Community Capital (NJCC) and East Trenton Collaborative (ETC) members, partners, and supporters celebrated the completed renovation of 615 North Clinton Avenue in Trenton at a ceremony on December 13 at 2 PM. The building, acquired by NJCC’s real estate arm, Community Asset Preservation Corporation (CAPC), has been redeveloped into mixed-use space with three apartments and a store front for a neighborhood-based entrepreneur.
The ceremony marked the completion of this key East Trenton redevelopment project, with speakers including Trenton Mayor Eric Jackson, Wells Fargo Senior Vice President of Corporate Responsibility & Community Relations Wanda Saez, NJCC President Wayne T. Meyer, and Trenton North Ward Councilwoman Marge Caldwell Wilson. Wells Fargo has been a long term supporter of the revitalization of the neighborhood and announced an additional commitment of $171,000 to further the work in the community.
This rehabilitation marks the second significant CAPC renovation in the East Trenton neighborhood in as many years. In 2016, CAPC acquired and renovated the East Trenton Center, located at 601 North Clinton Ave, on behalf of ETC to provide space for community use, educational programming and ETC offices. CAPC is redeveloping additional vacant structures as affordable homes, apartments and commercial spaces to help build out residents’ vision for the neighborhood.
“NJCC is thrilled to celebrate the return of a prominent, but long vacant, building to the neighborhood as apartments for three families and a storefront for a local entrepreneur to benefit the community,” said Wayne T. Meyer, NJCC President. “This project is just one of many positive changes planned that will benefit this community.”
“At Wells Fargo, we believe true neighborhood revitalization requires long term investment,” said Wanda Saez, SVP, Corporate Responsibility and Community Relations. “We are excited to continue our partnership with the East Trenton Collaborative as they make lasting change in this community.”
“The City of Trenton is proud of the work the East Trenton Collaborative and New Jersey Community Capital are doing in the East Trenton neighborhood,” said Mayor Jackson. “The rehabilitation of this long-vacant building into homes for families and a storefront for the neighborhood is just the beginning of the revitalization happening here. I look forward to building on this momentum and attending many more ribbon cuttings in the future.”
Wells Fargo, through its Housing Foundation’s Priority Markets Program, DCA’s Neighborhood Revitalization Tax Credit program, NJM Insurance Group, and Community Housing Capital provided funding for this project. Trenton-based contractor E&P Resource Group completed the renovations.
The program was followed by a tour of the building, and a reception and holiday activity for children at the East Trenton Center.
Last week the ETC announced the initial results of its Storefront Improvement Grant program, which has been helping business owners prepare and fix up properties in the neighborhood for commercial occupancy, and Habitat for Humanity is nearing completion of 7 new homes in the next block.
About New Jersey Community Capital
New Jersey Community Capital is a nonprofit community development financial institution (CDFI) that provides innovative financing and technical assistance to support the preservation and development of affordable housing and sustainable community development ventures that increase jobs, improve education, and strengthen neighborhoods. Founded in 1987, NJCC has invested over $630 million in New Jersey communities, resulting in over 9,700 housing units, 7,300 early care slots, 16,500 education seats, and 9,600 jobs. For more information, visit: www.newjerseycommunitycapital.org.
About the East Trenton Collaborative (ETC)
The ETC is an initiative of residents, nonprofit organizations, and community leaders working to reinvigorate and revitalize the East Trenton neighborhood. Coordinated by NJCC, ETC pursues complementary strategies including physical revitalization and beautification, homeownership, small business improvement, community building, workforce development, education, recreation, and human services. For more information, please visit www.east-trenton.org.