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Greater Newark & Jersey City LISC
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Rental Projects


Although buying a home is the American Dream, not everyone is in the market for such a substantial purchase, therefore LISC is working with our partners to develop attractive and affordable rental projects.   Working with our affiliate NEF and our local CDC partners, LISC is working to support projects in Newark, Jersey City and East Orange.


Villa EsperanzaOne such project was recently completed by M & M Development in Newark.  Villa EsperanzaShephard Avenue containing 26 apartments completed April 2005, M & M hosted their Ribbon Cutting Ceremony on May 25th to commemorate the completion of this tax credit housing development for low and moderate income families.  


Villa Esperanza apartments are available to families earning at 60% or below the area median.  The total development cost for the project was $5.6. 



Funding for this project was made possible by LISC affiliate National Equity Fund, Commerce Bank, NJ HMFA, City of Newark (HOME).