Media Coverage

NJAMHA News
Nov, 2007

Newbridge Director, Housing Development, Earns Forty Under 40 Award

NJAMHA congratulates Melody Federico, Director of Housing Development, NewBridge Services, Inc., Pompton Plains, for recently receiving a "Forty Under 40" award from NJBIZ magazine in recognition of "her efforts to provide affordable homes to middle and lower-income families and those with special needs in Morris and Passaic counties," according to a press release issued by NewBridge (October 3, 2007).

"Melody Federico is a driving force for affordable housing in Northern New Jersey. At a time when real estate is at its most restrictive, Ms. Federico is using her skill set and keen insight to put homes into the deserving hands of those who need it most," said Robert L. Parker, Executive Director.

Federico clearly presents to potential investors the value of providing affordable housing. For example, she demonstrates that supportive housing ends the costly cycle of emergency healthcare and treatment. In addition, every dollar invested in affordable housing yields at least a $10 return to the community in the form of job creation, new business, increased independence, access to higher education and tax contributions. "Once on board, supporters are impressed by her ability to repurpose funding money creatively. A recent $100,000 grant from United Way of Morris County was reinvested for three different transactions," Parker said.

This year, Federico acquired 17 units and will have 13 more in line before the end of 2007. These accomplishments are taking place well ahead of NewBridge's projections, quickly bringing the agency closer to its goal of acquiring a total of 100 units.