Urban League of Essex County to Held Lottery for Eight New Affordable Homes in Newark

On Monday, September 16, the Urban League of Essex County Opportunity Corporation (ULEC) held a lottery for eight newly developed two-family homes in Newark’s Fairmount neighborhood.

According to ULEC President and CEO Vivian Cox Fraser, these homes offer a unique opportunity for low-income families to achieve homeownership while also benefiting from an affordable rental unit.

The project, developed by the Urban League’s Opportunity Corporation, provides buyers with below-market sales prices and favorable mortgage financing options, including an interest-only option.

“It was important for the Urban League that our projects provide a mechanism for families to build wealth and stability that comes from homeownership,” she said.