NJEDA Approves Aspire Program Award to Support Affordable Senior Housing Development in Trenton

The 100% affordable housing development will include programs to support surrounding community

TRENTON, N.J. (September 17, 2026) – The New Jersey Economic Development Authority (NJEDA) approved an Aspire Program award to support an affordable senior housing development project in Trenton. The development, which is also supported by the U.S. Department of Housing and Urban Development (HUD)’s Choice Neighborhood Implementation Plan, will create 107 affordable rental units and various programs to support the surrounding community.

“As the NJEDA works to strengthen the Aspire Program, it’s encouraging to see ongoing progress on projects that expand access to affordable housing, bolster communities, and support vulnerable populations,” said NJEDA Chief Executive Officer Evan Weiss. “This development will provide older residents with stable, affordable housing, while empowering local families and businesses, delivering long-lasting benefits for years to come.”

The project, known as THA Senior, entails the construction of a four-story mixed-use development, and will be located on Martin Luther King, Jr. Boulevard in Trenton, less than a mile away from the Maternal and Infant Health Innovation Center. The building will have 107 affordable, one-bedroom rental units serving seniors aged 62 and older, as well as a two-bedroom superintendent’s unit. The development will also include a fitness room, community room, outdoor patio, walking paths, a parking lot, and playground equipment.

The development will also include roughly 10,000 square feet of commercial space for community-based organizations, with 7,400 square feet to be allocated for a daycare facility. Various programs will also be available to both residents and members of the community, including workforce development, senior services, education and youth support, financial empowerment, and early learning.

“This investment represents another major step in transforming the North Ward and delivering on the promise of our Choice Neighborhoods partnership,” said Trenton Mayor W. Reed Gusciora. “The City of Trenton and the Trenton Housing Authority worked together to secure this federal designation because we recognized that rebuilding a neighborhood requires more than building housing. THA Senior will provide 107 new affordable homes for our seniors while bringing early childhood education, workforce development, senior services and other community resources directly into the neighborhood. We are grateful to the NJEDA, HUD, the Trenton Housing Authority and all of our partners for investing in a stronger, more vibrant future for Trenton.”

“Projects like THA Senior demonstrate what is possible when state and local partners work together to invest in Trenton and the Capital Region,” said Mercer County Executive Dan Benson. “I want to thank Governor Sherrill, the New Jersey Economic Development Authority, and Trenton Housing Authority leadership for their continued commitment to our community and for utilizing the Aspire Program to help advance this important senior housing development. This investment will create new housing opportunities for older adults while helping to strengthen and revitalize Trenton. We look forward to continuing this partnership and building on the progress we are making across the Capital Region.”

“Every senior deserves access to safe, high-quality housing they can afford,” said Senator Shirley K. Turner (D-Mercer/Hunterdon). “This development will provide 107 Trenton seniors with homes of their own while also bringing childcare, workforce development, educational programs, and other valuable services to the surrounding neighborhood. This is the kind of investment that strengthens families, supports seniors, and contributes to the continued revitalization of our capital city.”

“I welcome today’s announcement of the Aspire award that will help create additional housing option for seniors and provide them with amenities that will keep their minds and bodies active,” said Assemblywoman Verlina Reynolds-Jackson (D-Hunterdon, Mercer). “At the same time, THA Senior’s plan for the workforce development, financial empowerment and educational support will benefit the entire community. This is truly a win-win for Trenton residents.”

“As we continue to revitalize Trenton, we must make strategic investments like this one that enhance amenities and foster opportunities for community members,” said Assemblyman Anthony Verrelli. (D-Hunterdon, Mercer). “The Aspire award announced today has the double benefit of increasing available housing for Trenton’s seniors and bolstering economic development through the creation of commercial space for local organizations. I am excited to see what the future of this project has in store for residents of our city.”

THA Senior was approved for an award of up to 85% of the total project cost, not to exceed $54.3 million. THA Senior was also approved for a $900,000 federal grant through the Choice Neighborhoods program. The Choice Neighborhoods program aims to leverage public and private dollars to revitalize struggling neighborhoods by catalyzing critical improvements, including vacant property, housing, businesses, services, and schools. This project is also supported by Low-Income Housing Tax Credits through the New Jersey Housing and Mortgage Finance Agency.

Aspire is a gap financing tool to support commercial, mixed-use, and residential real estate development projects. The NJEDA has temporarily paused applications for the program as it works to establish a new framework and criteria. For more information, please visit here.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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