Fueled by the infusion of $25,000 from the New Jersey Natural Gas Company (NJNG) and working in conjunction with the Governor’s Adopt-A-Neighborhood Program, Interfaith Neighbors was able to launch a Homeownership Program in 1996 that focused on renovating boarded- up homes to create homeownership opportunities for working poor families.

The infusion of this initial capital formed a “partnership” between Interfaith Neighbors and New Jersey Natural Gas Company (NJNG) and subsequently attracted other corporate and private donors.

Initially, two boarded-up houses made available to us by the City of Asbury Park were renovated and sold to two families. Much of the labor was provided by the Asbury Park Youth Corps as part of an on-the-job training program.

Through the volunteer efforts of Bevin Irvin, a successful homebuilder, a third house was constructed on a lot provided to Interfaith Neighbors by the Township of Neptune. This house, which was completed in December of 2000, became a wonderful addition to the neighborhood. A working poor family of five is now the proud owner of this beautiful home.

Since then, another eight new homes have been constructed in Neptune. An additional home has been rehabbed and three new homes have been constructed in Asbury Park. All of these homes are now owned and occupied by low income working poor families.

The completed homes are sold at our cost-to-construct; the purchase price is significantly below market value. Interfaith Neighbors receives its return of capital from the mortgage proceeds plus the cash equity of the purchaser, which then enables us to invest in our next house renovation/construction project.

Click here to download homeownership application.