Cost: $18,000,000
Completed: January 2007
Special Funding/Financing: HDC’s 421-a Negotiable Certificate Program; NYC HDC Tax Exempt Bonds; LIHTC
Type: New Construction

100 unit multifamily building that consists of 16 studios, 34 one-bedrooms, 50 two-bedrooms and a two-bedroom superintendent’s unit. The project was developed through a 30-year regulatory agreement with NYC HDC that will set-aside units for households earning no more than 55% of the area median income. Ten percent of the units will be set-aside for formerly homeless households. The eight-story building features approximately 12,000 square feet of ground floor commercial space leased for 15 years by the project’s sponsor, and a community room.