After serving for more than seven years as the New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director, Anthony Marchetta, will be stepping down at the end of the month, the NJHMFA announced today.After serving for more than seven years as the New Jersey Housing and Mortgage Finance Agency (NJHMFA) Executive Director, Anthony Marchetta, will be stepping down at the end of the month, the NJHMFA announced today. The firm said that upon stepping down as executive director, Marchetta will be starting his own business, ALM Consulting Group in the Princeton area.
“I am very proud of our efforts at NJMHFA to increase affordable housing for our residents, address the devastating impact on housing due to Sandy and create new initiatives to spur the development of homes for families, seniors and special needs residents across the state,” Marchetta said in a news release. “It has been a tremendous privilege to work alongside the dedicated professionals at NJHMFA and to serve the people of New Jersey.”
During his seven-year tenure, Machetta has overseen the creation of more than 38,000 housing opportunities which have or will generate total development costs of nearly $7 billion.
The executive director led the initiative to implement NJHMFA’s Conduit Bond Program, which boosted the production of 28,350 multifamily units.
“National recognition was given to the significant changes under Marchetta’s leadership to the state’s Low Income Housing Tax Credit Qualified Allocation Plan,” NJHMFA said in a news release. “These changes have helped guide affordable housing growth across the state by deconcentrating areas of poverty and shifting projects to high opportunity areas that are job centers, have high-performing schools and access to public transit.
“Following Superstorm Sandy, NJHMFA received more than $700 million in federal Community Disaster Block Grant – Disaster Relief funds, which were administered by NJHMFA, resulting in the stabilization of Sandy-impacted communities and the creation of nearly 7,000 rental apartments for families, seniors and special needs residents.”
NJHMFA also saw the creation of the Special Needs Housing Partnership Loan Program and the Supportive Housing Connection under Marchetta’s leadership. According to the agency, these programs resulted in the creation of 2,200 opportunities for residents with special needs.
Prior to joining the agency, Marchetta served as vice president of LCOR, where he oversaw development opportunities in the mid-Atlantic region.