Queen Latifah has broken barriers in both the music and entertainment industries and now she plans on doing the same in real estate. In an effort to level the playing field when it comes to housing equity in her hometown of Newark, the Star actress is creating an affordable housing complex in the city, NJ.com reported.
The project—which is reportedly going to cost $14 million—will be a community of multi-family townhouses, the news outlet writes. The homes—which will be located on Springfield Ave. and South 17th Street—will include 20 three-family townhomes and an additional mix-use building that will have 16 units. The mix-use building will feature a fitness center and commercial space that will be used by nonprofit organizations. 60 of the units will be market rate starting with a price of $1,800 and 16 of the units will be affordable and based on an individual’s income.
The project is being led by BlueSugar Corporation—where Latifah serves as co-president—and GonSosa Development. BlueSugar Corporation has been on a mission to revitalize struggling neighborhoods across the country and GonSosa Development has reconstructed and developed over 1,000 units.
There is a need for affordable housing in Newark and those who are involved in the project are excited about making change. “They understand how difficult it is to make ends meet for many residents and want to be part of the solution. They remain dedicated to making life better in communities like Newark,” said Cristina Pinzon who serves as a spokeswoman for the developers. Like other cities across the country, Newark is experiencing an affordability crisis where many longtime residents are at risk of being displaced due to gentrification.
News about Queen Latifah’s plans comes nearly a month after NFL star Marshawn Lynch shared that he was going to purchase real estate in his hometown of Oakland so that people who have lived in the community for decades wouldn’t be pushed out.
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Queen Latifah To Create Affordable Housing Complex In Newark was originally published on newsone.com