One hundred percent affordable buildings will rise in the South Bronx. On April 20, 2018, construction began on two new buildings at La Central in the Bronx. The 1.2 million square-foot development is one of the largest mixed-income projects currently in development in the City. The buildings will be located at 556 and 600 Bergen Avenue.
Search Results for: Housing
421-a Benefits Suspended for Failure to Comply
Property owners face 421-a suspension for failure to submit Final Certificates of Eligibility. On March 9, 2018, Housing Preservation and Development Commissioner Maria Torres-Springer and Department of Finance Commissioner Jacques Jiha announced the suspension of 421-a benefits to more than 1,700 property owners. The decision to suspend benefits is part of the Housing Preservation and Development and Department of Finance’s initiative to ensure that properties comply with the 421-a application rules. Currently, there is a … <Read More>
New Development Will Bring Affordable Co-Op To First Time Home Buyers
New cooperative building will give first time home buyers affordable opportunity to own their home. On February 28, 2018, the Department of Housing Preservation & Development (HPD) announced plans to develop a 100 percent affordable seven-story co-op building in the Williamsbridge section of the Bronx. The building, named Sydney House, is the first affordable housing development to be financed under the HPD’s Open Door program.
Succession Rights Granted in Mitchell-Lama Co-op
Downs syndrome grand-nephew sought succession rights to Mitchell-Lama cooperative apartment. On February 3, 2012, the permanent tenant of Lindsay Park Housing Corp., a Mitchell-Lama affordable housing cooperative, died. Following her death, the New York City Department of Housing Preservation and Development ruled that the grand-nephew, Haile King-Rubie, who resided with the deceased did not have succession rights to the apartment. Haile King-Rubie, who has Down syndrome, filed a petition to review this decision.
Appellate Court Orders Trial on Commercial Rental Income Dispute
Coops created by an HPD sale of City-owned buildings engaged in dispute over an obligation to share commercial space income. In 2003, the City conveyed 14 buildings, located on the West Side of Manhattan on 87th, 88th, 89th and 95th Streets. The buildings were to be converted Housing Development Fund Corporations (HDFCs), which are low-income residential cooperatives owned by tenant-shareholders . Three of the 14 buildings contained commercial space. Under the City’s conveyance, the … <Read More>
Public Advocate Investigation Reveals HPD’s Grossly Inadequate Oversight of Homeownership Programs
Investigation uncovers HPD’s 13 years of failing to enforce housing program requirements against developers and depriving the City of affordable housing and resources. On February 29, 2016, New York City Public Advocate Letitia James released a report on an investigation conducted by her office into 26 residential properties in Brooklyn. The 26 properties had been given to a nonprofit developer to be rehabilitated and resold, subject to affordable housing income restrictions, as part of the … <Read More>