Putting Grants to Work

Working to Revitalize Trenton

When New Jersey Realtors® began its journey to moving its headquarters to Trenton, they set out with the goal to help revitalize the state capital. What was once a bustling industrial city is now suffering from an abundance of distressed residential and commercial properties.

With help of the National Association of Realtors® Transforming Neighborhoods Grant, New Jersey Realtors® is funding a technical assessment of the housing system in Trenton. The assessment will look for underlying reasons as to why there is an abundance of neglected or abandoned properties in the city. Currently, Trenton has over 5,000 vacant properties which makes up nearly 20 percent of all properties in the city. Additionally, Trenton continues to have one of the highest local property tax levies in the state, due to high volume of tax-exempt properties such as federal and county courthouses, hospitals, and churches, and because of this, residential and commercial redevelopment has been detrimentally impacted. Through proper data utilization, issue areas can be identified and policies can be enacted to combat them.

The grant will also fund educational sessions to teach the community and the city different strategies to deal with issue properties and revitalize Trenton. Resident-led organizations are key to making change and New Jersey Realtors® plans to engage and take them as partners to revitalize the city. These organizations can help obtain real, accurate information on what residents are currently experiencing regarding the housing crisis. These organizations will be also be vital in getting the community into education classes to learn about these issues and find new solutions.

It’s all about community-driven progress and New Jersey Realtors® is excited to be a part of that community.

Helping First-Time Buyers Achieve the Dream of Homeownership

As President Jeff Jones mentioned in his column on page 5, this year, New Jersey Realtors® is also the proud recipient of a National Association of Realtors® Consumer Advocacy Grant to address the obstacles that firsttime homebuyers face when trying to purchase a home in New Jersey. With the funds, throughout the summer and into the fall, New Jersey Realtors® is hosting virtual panel discussions—the Keys to Homeownership—to educate potential buyers about ways to mitigate the burdens of buying a home and promote the newly introduced legislation that creates the New Jersey First-Time Home Buyers Savings Account Program. Finance Agency, a mortgage expert, and a Realtor® .

They’ll discuss the processes that first-time homebuyers should expect to face when purchasing their first home, as well as some of the programs available to them from the state and federal government.

By holding these sessions throughout the state, New Jersey Realtors® can gain a better understanding of the top burdens of current consumers in New Jersey, advocate for easing the burdens that new homebuyers face, gain support and pass the legislation currently in the legislature to create a first-time homebuyer savings account, and ultimately boost the rate of new homeowners in New Jersey.

For more information about these sessions visit newjersey.realestate/keys.