Voorhees Township, NJ, April 30, 2026 – On Thursday, the Board of Commissioners celebrated the grand opening of Victory Commons, a $30 million, 81-unit affordable housing complex located in the heart of Voorhees Township. Units will be income-restricted to households earning 60% or less of the Area Median Income, and feature One-, two-, and three-bedroom floorplans, ample parking, a clubhouse, and other amenities.
According to Zillow, the United States’ housing deficit grew to 4.7 million in 2025, furthering the nation’s affordability crisis. This staggering statistic underscores the value of investing in affordable housing throughout Camden County.
“Increasing access to safe, high-quality affordable housing remains a paramount priority for the Board of Commissioners. Developments like Victory Commons are critical to ensuring that more of our residents throughout the county have a place they can call home,” said Commissioner Director Louis Cappelli Jr. “We are proud to partner with the Michaels Organization in the development of Victory Commons, and I look forward to seeing this community grow and thrive.”
Nicholas Cangelosi, Regional Vice President of the Michaels Organization underscored the value of public-private partnerships in the Michaels Organization’s mission to deliver high-quality, affordable family housing.
“The grand opening of Victory Commons marks a significant milestone in our mission to deliver high-quality, affordable family housing to high-opportunity communities like Voorhees Township,” Nicholas Cangelosi, Regional Vice President of the Michaels Organization. “This community, which provides 81 beautiful new homes with access to excellent schools and local amenities, is a true testament to the power of public-private collaboration. We are immensely grateful for the unwavering support from our vital partners—the Township of Voorhees, Camden County, the New Jersey Housing and Mortgage Finance Agency (NJHMFA), and TD Bank—all of whom helped make this vision a reality.”
A recent executive order signed by Governor Mikie Sherrill, directing state agencies to submit proposals to increase housing affordability throughout the state, further stresses the need for affordable housing. County investments in affordable housing complexes like Victory Commons are a critical step towards addressing this need in our own backyard.
Financing for the $30 million development includes $9.2 million in private equity raised through the sale of federal Low-Income Housing Tax Credits allocated by the New Jersey Housing Finance Agency (NJHFA). NJHFA also provided a $5 million permanent mortgage, as well as $10 million in Housing Production Loan funds and $750,000 through the NJHFA Special Needs Housing Trust Fund. The development also benefited from a $1.8 million HOME Investment Partnership Loan provided by Camden County.
Assembly Majority Leader Lou Greenwald emphasized the importance of the project as the national housing affordability crisis continues to impact families in New Jersey.
“Too many New Jersey families are being priced out of the communities where they want to live,” said Assembly Majority Leader Lou Greenwald (D-Camden, Burlington). “Projects like Victory Commons don’t happen by accident; they’re the result of strong public investment, real partnership across all levels of government, and a local commitment to planning for and delivering housing that meets the needs of the community. This is how we expand opportunity: by creating housing people can afford, closer to where they work, in communities that are positioned to grow and succeed.”
Bill Duffy, Senior Loan Officer at TD Bank, U.S. commended the project and noted the positive generational impact Victory Commons will have on Voorhees Township.
“Victory Commons represents a significant step in meeting the critical need for affordable housing in South Jersey. We are proud to once again partner with The Michaels Organization on this impactful project,” said Bill Duffy, Senior Loan Officer at TD Bank, U.S. “We remain dedicated to the communities where we live and work and appreciate the opportunity to finance this project that will support families in the Voorhees community for generations to come.”
Victory Commons is located within walking distance of two elementary schools, a public playground and park, community garden, municipal offices, daycare, and several retail stores and restaurants. The convenient location allows for easy commute by car or rail to Philadelphia, Atlantic City, and New York City.
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