The New Jersey Devils and Prudential Center announced a $200,000 donation to Invest Newark today, in support of the City of Newark’s Land Bank Section 8 Homeownership Conversion Program. This contribution aims to aid the redevelopment of vacant land into residential properties throughout the city, facilitating families’ transition from renters to homeowners. The donation is part of the Devils, Prudential Center, and HBSE’s ongoing $20 million commitment to racial equity, initiated in August 2020.
Newark’s Land Bank Section 8 Homeownership Conversion Program, led by Mayor Ras J. Baraka and the City of Newark, targets formerly blighted properties and vacant land for transformation into homes. Recipients are selected from a lottery of active Section 8 holders eligible for a mortgage through the Neighborhood Assistance Corporation of America.
Mayor Ras J. Baraka expressed gratitude for the commitment, stating, “This $200,000 donation commitment from the New Jersey Devils and Prudential Center shows their continued support of their ‘home’ city as they strive to root families into homeownership.”
Marcus Randolph, President and CEO of Invest Newark, highlighted the significance of the Section 8 Homeownership Program in empowering families to build generational wealth and invest in Newark’s neighborhoods. He noted, “HSBE’s contribution helps us do this important work and will lead to more Newark residents owning their own homes.”
The donation aligns with HBSE’s $20 million commitment towards racial equity, established in 2020. Through this commitment, HBSE has implemented various charitable efforts in Newark, Camden, and Philadelphia, aimed at supporting historically under-resourced communities and bridging socio-economic disparities.
David Gould, Chief Diversity and Impact Officer at HBSE, emphasized the organization’s dedication to community betterment, stating, “We made a point in 2020 to be leaders in racial and social equity, and we look forward to creating more avenues in this space.”
