Applied has a distinguished history creating thousands of units of both luxury and affordable housing. In addition, in implementing its core strategy of downtown development, Applied has done numerous mixed-income projects, whereby affordable and market-rate housing complement each other in the same project from both a financial and urban planning standpoint. Recently, Applied broke ground on a 130 unit mixed income "80/20" development on the former State Theater site at Journal Square in Jersey City. The project mixes moderate income and market rate residents, contains a brand new parking deck for residents and neighborhood shoppers and creates approximately 15,000 sq. ft. of new street level retail. It is the first major new development to be done in Journal Square in over 20 years and it is expected to single-handedly spark the much-needed revitalization of this area. Developing mixed-income communities requires deep expertise as synthesizing the needs of these disparate income groups can be a challenge which requires an experienced hands-on manager to ensure success.
Equal Housing Opportunity