New Sharon Woods
New Sharon Woods boasts 50 garden and townhouse-style apartments located next to forested land and dedicated open space in Deptford Township. The project was completed in 1984 and plans to renovate the complex are in the works.
Located at 100 Hillcrest Avenue in Deptford Township, the New Sharon Woods development includes 50 units: 24 of them are garden apartments and 26 are located in townhouses. The development’s two-bedroom, three-bedroom and four-bedroom units are located in four two-story buildings completed in 1984. All of the units received HUD Section 8 Project Based Assistance rent subsidies. The site is heavily forested and looks out over municipally-owned, dedicated open space encompassing a stream corridor, freshwater wetlands, and a three-quarter-acre lake. In September 2006, New Sharon Woods was refinanced by HUD under its Mark-to-Market Program, which extended the Section 8 project-based contract for 20 years. Planned renovations are under way and a four percent tax credit financing is being sought at the New Jersey Housing and Mortgage Finance Agency to secure additional equity for the renovation program.