The Township has allocated $100,000 from its housing trust fund to HOMECorp, a local affordable housing developer, towards the development of two affordable housing units at 87 Mission Street. The units are located within an existing building which was once accessory to a single-family house at 19 Elmwood Avenue.

The Planning Board approved the subdivision of the property to place the building on its own parcel of land. The two units will be deed-restricted for occupancy by a low and a moderate income household and will count towards the Township’s COAH housing obligation.

Montclair collects fees from developers of market rate housing which are placed in a dedicated fund to be used to create affordable housing within the community. The fund has approximately $370,000 remaining. The Township has funded other HOMECorp affordable housing projects, including 43 Glenridge Avenue and 55 Glenridge Avenue, and will assist with the construction of new units at 53-55 New Street.