Plaza at Springfield Village

302 Springfield Ave, Newark, New Jersey 07103

Welcome to the Plaza at Springfield Village

Designed to function as a true community, The Plaza at Springfield Village furthers the City of Newark’s objectives to provide sustainable, high quality and affordable housing.  Located along Springfield Avenue, one of Newark’s primary commercial corridors, there are a wealth of conveniences within a 1/2 mile of the Village. These include public transportation, shopping, employment opportunities, medical facilities, public schools, recreational facilities and other neighborhood services. Only minutes away, it’s easy access to all the culture that downtown Newark has to offer.

Plaza at Springfield Village Details

  • 50 bedroom units.
  • Mid Rise
  • Low-Income Housing Tax Credit (LIHTC)

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Newark Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Newark but actual income limits may differ for units at Plaza at Springfield Village.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $40,250 $46,000 $51,750 $57,500 $62,100 $66,700 $71,300 $75,900
Low Income (60%) $48,300 $55,200 $62,100 $69,000 $74,520 $80,040 $85,560 $91,080
Image of Plaza at Springfield Village

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