Established within New Jersey’s Economic Recovery Act of 2020, and operated by the New Jersey Economic Development Authority (NJEDA), the Aspire Program is a gap financing tax credit program that supports strategic commercial, mixed use, and residential real estate development projects. ESI provides analytical and advisory services assistance to clients who are interested in seeking Aspire funds. Our services include completing net benefits test analysis and sensitivity assessments and feasibility/funding gap analyses that are required by NJEDA for submission of the application. We work with developers, business owners, and nonprofits to help them review the Aspire guidelines and requirements and determine eligibility before pursuing the program.
ESI recently supported the New Brunswick Development Corporation’s (DEVCO) first phase of the transformative Health + Life Sciences Exchange (HELIX) in downtown New Brunswick, which received New Jersey’s first transformative Aspire Program award.
If you are interested in learning more about ESI can assist or support your Aspire development, you can contact us here.