TRENTON, N.J. – The New Jersey Department of Community Affairs (DCA) announced an agreement with the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to provide a $10 million low-interest rate loan through the Downtown Living Initiative Program (DLIP) to RPM Development of Montclair, New Jersey in support of its Van Sciver project in the City of Trenton.

The Van Sciver project will transform the 150-170 South Broad Street buildings into modern housing units, while preserving its historic façade, according to a prepared statement released on July 21, 2023.

“The Van Sciver development project will create a premier residential housing complex with a myriad of amenities and services that provides greatly needed rental housing in Trenton,” said Lt. Governor Sheila Oliver, who serves as DCA Commissioner. “Funding support from DCA and affiliate organizations such as NJHMFA was integral to moving this opportunity forward with the ultimate reward of benefiting families with a beautiful new space to call home and the community with an outdoor plaza and retail space.”  

The Van Sciver project will provide the community with a combination of 120 one-, two-, and three-bedroom residential rental housing units. Of those, 70 will be market rate, 48 will be affordable, and two will be rent-free superintendent’s units. Additionally, there will be 7,500 square feet of retail space opening onto a public plaza overlooking the Assunpink Creek. The project is scheduled to begin in fall of 2023.

Additionally, RPM Development will collaborate with co-applicant Life Management, Inc. (LMI), a nonprofit organization, to develop a social services plan that best meets the needs of senior, developmentally disabled, and formerly homeless residents.

The project will help advance public and private efforts to revitalize the City of Trenton’s downtown. The Van Sciver building is on a property that connects the historic Mill Hill neighborhood to downtown Trenton. As households move into the new development, they could become a catalyst for an economic resurgence in the downtown district.

The development project is made possible by numerous funding sources totaling over $73 million in investment in an underserved downtown Trenton neighborhood. In addition to the $10 million DLIP loan, the Van Sciver redevelopment project is receiving Low Income Housing Tax Credits (LIHTC) and Workforce Housing Initiative funding through NJHMFA; ASPIRE tax credits through the New Jersey Economic Development Authority (NJEDA); and a commitment from the City of Trenton for HOME funding.  

Additionally, another redevelopment project is currently underway at 216 E. State Street, which is less than a mile from the Van Sciver project. The State Street project is repurposing the former Bell Telephone building into a residential space of 98 market-rate housing units. 

The New Jersey Department of Community Affairs (DCA) provides administrative guidance, financial support and technical assistance to local governments, community development organizations, businesses and individuals to improve the quality of life in New Jersey.

DCA offers a wide range of programs and services that respond to issues of public concern including fire and building safety, housing production, community planning and development, local government management and finance, disaster recovery and mitigation, and privacy protection.

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs.

For more information about DCA, visit

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