New Jersey's Housing and Mortgage Finance agency approved the disbursement of $4.8 million in Hurricane Sandy relief funds to help build an apartment tower in New Brunswick, according to an investigation from NBC's I-Team.

The funding was part of the state’s Fund for Rebuilding Multifamily Housing — a program intended to speed construction of new affordable housing in communities ravaged by the storm.

Only 48 of the 238 apartment units in the New Brunswick apartment building will be classified as affordable housing, the report said. The building will have 8,000 square feet of retail space, a parking deck and a fitness center, the developer, a firm called Boraie, told NBC.

Furthermore, New Brunswick suffered relatively little damage as a result of Hurricane Sandy, the report said. A Rutgers University study ranked New Brunswick 188th on a list of communities that suffered the most damage from Sandy.

“Providing affordable renting housing for those displaced by Sandy was a high priority for both the Obama and Christie administrations, as outlined in the Action Plan approved by the Obama administration last April,” the Christie administration said in a statement. “The first round of federal funds was targeted at the nine-most impacted counties from Sandy, which includes both Middlesex and Essex Counties.”

This report comes at a time when the Christie administration is still facing questions about whether or not Sandy recovery funds were held from the city of Hoboken. Earlier this month, Hoboken Mayor Dawn Zimmer accused Lieutenant Governor Kim Guadagno of withholding recovery funds until she signed off on a certain real estate development. Guadagno denies these allegations.

NJ.com Senior Political Reporter Darryl Isherwood contributed to this report.