50 Penn is a new 100 percent affordable development in Cypress Hills, Brooklyn. Image Credit: HPD.

The mixed-use, nine-story “50 Penn” building in Brooklyn will provide both housing and additional supports. On June 9, 2022, the Department of Housing Preservation and Development (HPD), the NYC Housing Development Corporation (HDC), developer PennRose, and the Riseboro Community Partnership celebrated the grand opening of the “50 Penn” housing development in Cypress Hills, Brooklyn. The 218-unit building addresses key priorities in the East New York Neighborhood Plan, such as affordable housing and access to fresh food. While the building was financed through HPD and HDC, Pennrose was the project’s lead developer and RiseBoro will provide on-site property management. (more…)

Mayor Adams joins the development team for the ground breaking of the Hanson Place Community Plaza project. Image Credit: Ed Reed/Mayoral Photography Office.

The project site also features 22,000 feet of community space. On April 28, 2022, Mayor Eric Adams and other City officials joined the development team of Hanson Place Church Support Corporation, MDG Design + Construction, City Community Capital, The Richman Group, and other partners to break ground on Hanson Place Community Plaza. (more…)

Rendering of the Betances Family Apartments. Image Credit: HPD.

Supportive services will be offered to all households. On September 28, 2021, the New York City Housing Authority (NYCHA) and the Department of Housing Preservation and Development (HPD) announced the finalization of a deal to bring 101 new affordable apartments to the Mott Haven neighborhood in the Bronx. The Betances Family Apartments project, located at the corner of East 146th Street and Willis Avenue on NYCHA’s Betances VI campus, will be 100 percent affordable. The new mixed-use building will replace a vacant retail building. (more…)

The Northeastern Tower Annex. Image Credit: HPD

The building provides much needed affordable housing for seniors. On July 21, 2021, the Department of Housing Preservation and Development (HPD), other City and elected officials, community leaders and others participated in a ribbon-cutting ceremony for Northeastern Towers Annex at 161-11 132nd Avenue in Jamaica, Queens. Northeastern Towers Annex is a 159 affordable-unit development for seniors.  (more…)

Rendering of the Eliza. Image Credit: HPD

The new Eliza project will bring 174 affordable homes and a state-of-the-art public library to the Inwood community. On June 10, 2021, the Department of Housing Preservation and Development announced the Eliza, a mixed use development featuring affordable housing and a public library, and education space, located at 4790 Broadway in Inwood. The project has been fully financed and is moving forward. (more…)