Providing, Managing and Advocating for Affordable Housing
Encouraging development of affordable homes and diverse neighborhoods within the fabric of Princeton where all individuals and families, regardless of income, will have the opportunity to live in the community of their choice with appropriate supports and services.
Continuing collaborative work with the Municipality of Princeton, Princeton University and other local and regional groups to fund and create additional housing opportunities.
Sustaining and forging partnerships with agencies and nonprofit groups to provide and enhance needed resident services, including the Princeton YMCA’s Princeton Young Achievers program; and providing administrative agent assistance to local municipalities to assist them in fulfilling their affordable housing monitoring obligations.
Desiring to support a balance of housing opportunities essential to the continued success and diversity of the Princeton community, a small group of community leaders formed Princeton Community Housing, Inc. (PCH) in 1967. Over 48 years later, PCH has grown to become the largest single provider of affordable housing in the community. We now own and manage 466 rental units in four separate communities and continue to advocate for additional opportunities.
PCH undertook the purchase of 35 acres on Bunn Drive and proceeded to develop 238 low and moderate income units known as Princeton Community Village. Holly House has 71 one bedroom apartments and low-rise buildings include 167 two, three and four bedroom townhouses. The Village opened in 1975 and is a U.S. Department of Housing and Urban Development (HUD) Section 236 development that receives limited Section 8 and Section 101 rental subsidies. Low income tenants pay 30% of their adjusted gross income in rent. This development is owned by Princeton Community Village Associates LP of which PCV Group, Inc. is the managing general partner.
PCH next undertook the development of Elm Court, a Section 202 project that serves low and moderate income elderly residents and disabled adults of all ages. Elm Court is located at 300 Elm Road and opened in 1985. It contains 88 one bedroom and studio apartments, 9 of which are designed for the mobility impaired. Section 8 rental subsidies assist the low income seniors with rent payments, with no rent exceeding 30% of adjusted gross income.
PCH organized PCH Development Corporation to develop and operate Griggs Farm, a 280 unit affordable family project located off Cherry Valley Road in Princeton Township. Griggs Farm is an inclusionary development – half of the units are affordable and half are market rate units. It was financed with Low Income Housing Tax Credits, Balanced Housing Program funds, and income from the sale of the market rate units. PCH retained ownership of 70 units that are rented as affordable units to low and moderate income families. Since occupancy in 1989, Griggs Farm has not received any project based rental assistance and tenants pay 30% of the adjusted gross income for rent. Currently, household income in the rental units averages 40% of median for Mercer County. Ownership was transferred to Griggs Farm, Inc. in 1990.
PCH recognized the need for additional senior housing and in 1996 identified an available parcel of land adjacent to Elm Court. After long negotiations, fundraising, and planning, PCH purchased the land and began the arduous role of obtaining approvals for a second building with 67 apartments for seniors and one apartment for an on-site superintendent.
Harriet Bryan House, owned by Elm Court II, Inc., opened in 2007 and was fully leased to senior citizens.
With assistance from the former Borough of Princeton, PCH purchased two townhouses and was deeded a third 2 bedroom house, 246 John Street in 2012.
In keeping with its mission “to provide, manage, and advocate for affordable housing,” PCH continues to look for opportunities to develop and support housing for low and moderate income seniors and families. Over the last few years, PCHDC has added to its responsibilities serving as the COAH Administrative Agent. Administrative Agent duties have been undertaken for the five affordable residential units on Leigh Avenue that are owned by the municipality of Princeton, four affordable units at 135 Bayard Street, owned by Princeton University, as well as two condominium developments at Shirley Court and Maclean Street. PCHDC is also the COAH Administrative Agent for the municipality of Princeton’s Affordable Rental Program and for Hopewell Township’s Affordable Sales.