LONG BRANCH, N.J. ’Äî State and local officials joined developers in Long Branch, N.J. this week to help celebrate the completion of a new phase of for-sale homes dedicated for moderate-income families.

The group of dignitaries gathered at the site on Monmouth Street to unveil the new homes which are part of a $4.2 million affordable housing program. When completed, 38 homes will be created on scattered sites in a neighborhood designated for assistance by the Urban Coordinating Council and within Long Branch's Urban Enterprise Zone.

A joint venture of Applied Development Company of Hoboken and The Mon Group of Shrewesbury was tapped to develop the project, called Riverwalk Homes.

"We're excited to be here today and want to thank all of those agencies and individuals who supported this program and allowed us to move forward," said Dean Mon of The Mon Group.

"We believe these homes will be an important component of the overall reinvestment and redevelopment of Long Branch."

Much of the local support was marshaled by Mayor Adam Schneider who worked with the development team and community and state officials to make these homes a reality.

"Riverwalk Homes represents yet another example of the positive changes taking place in this neighborhood," the Mayor pointed out. "We're delighted to be a part of this program and feel that as a community, we're getting back a lot more than what we've invested."

Financing for Riverwalk Homes is being provided in part by the New Jersey Housing and Mortgage Finance Agency (HMFA) through its Home Ownership Recovery Program.

"The state is so pleased that Riverwalk Homes, like a number of other projects on the drawing board in Long Branch, will enable residents to become a part of this community through home ownership," said Deb De Santis, HMFA's Executive Director.

"When you look at these homes, it's clear to see the quality construction and number of amenities offered. These aren't just buildings going up, but homes created by developers who paid a great deal of attention to details."

The advent of the affordable housing program is a vital step in ensuring that all of Long Branch benefit from redevelopment efforts, noted Greg Russo of Applied, which was also selected to develop some 770 luxury residences and more than 100,000 square feet of shops and restaurants along the city's oceanfront.

"We are all committed to seeing the renaissance of Long Branch extend beyond the waterfront and into the city's neighborhoods," Mr. Russo pointed out. "New housing will certainly play a major role in the rebirth of these communities."

All ten of the homes in Riverwalk's first phase have been sold, while a list of interested buyers exists for the new section, Mr. Mon pointed out. The homes feature two different designs with three bedrooms, 2 1/2 baths, a full basement and a one-car garage, and are priced from $99,000.

For more information, please call the Sales Office at (732) 263-9600.