Report Commissioned By Housing & Community Development Network Tracks Economic Impact Of Projects Launched In NJ

Published February 8, 2015
By Mark Abrams

TRENTON, NJ (CBS) — The Housing and Community Development Network of New Jersey has released a report on the group’s impact on the Garden State’s economy.

The report examines more than two decades of data and finds the non-profit development groups and the projects they supported had a $12 billion dollar impact on communities throughout New Jersey.

Matthew Reilly is president and CEO of Moorestown Ecumenical Neighborhood Development Inc.

He says his group built and manages more than 700 rental housing units in 29 separate locations in Burlington, Gloucester and Atlantic counties.

“We’re focused on simply providing below market rate rental housing to low-and-moderate income individuals, families, senior citizens, about half of our housing is for the elderly.”

He says those projects drew tens of millions of dollars in investment, created hundreds of construction jobs, and permanent jobs for those who manage them.