Hopewell Township has received a $5.7 million contribution to its Affordable Housing Trust Fund from BeOne, as part of the township’s affordable housing program.
The contribution follows state guidelines requiring developers to either build affordable housing units as part of new projects or contribute to a municipal Affordable Housing Trust Fund.
The Mount Laurel Doctrine, established through New Jersey Supreme Court rulings in the 1970s and 1980s, requires municipalities to provide their share of affordable housing for low- and moderate-income households. To implement the mandate, the state created the Council on Affordable Housing in 1985.
In 2024, the Department of Community Affairs and the Housing and Mortgage Finance Agency assumed responsibility for overseeing compliance.
BeOne opted to contribute to the township fund, which is intended to be used exclusively for affordable housing initiatives.
BeOne, formerly BeiGene, Ltd., is a company focused on discovering, developing, and delivering cancer treatments worldwide. The company has a manufacturing site in Hopewell.
“This contribution strengthens our ability to meet the township’s affordable housing obligations while also addressing past commitments,” Mayor Courtney Peters-Manning said in a statement.
According to township officials, the funds will be used to reduce existing affordable housing debt tied to the Pennytown property and to help finance projects required under the township’s fourth-round affordable housing obligations.
“This funding represents an important step forward in maintaining Hopewell Township’s long-term financial stability while fulfilling our affordable housing responsibilities,” committee member Kevin Kuchinski said.
For more information about Hopewell Township’s affordable housing program, visit hopewelltwp.org.
BeOne manufacturing center in Hopewell.,
