Cost: $26,000,000
Completed: June 2008
Special Funding/Financing: HDC’s 421-a Negotiable Certificate Program; NYC HDC Tax Exempt Bonds; LIHTC
Type: New Construction

111 unit multifamily building that consists of 11 studios, 33 one-bedrooms, 56 two-bedrooms and 11 three-bedrooms. 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 building features approximately 20,000 square feet of ground floor commercial space, and a 27,000 square foot community room.