The new building will have a variety of amenities and 111 parking spaces for residents. On February 12, 2019, HPD and HDC announced the completion of Alvista Towers, a 380-unit, affordable housing development in Jamaica, Queens. City agencies and private sector firms came together to develop this project as part of the City’s affordable housing initiative. The involved parties were the Department of Housing Preservation and Development (HPD), New York City Housing Development Corporation (HDC), … <Read More>
Search Results for: Affordable Housing Financing
City Planning Approves New Affordable Housing on NYCHA-Leased Land in Mott Haven
The building will feature supportive housing with in-building staff to provide services. On January 30, 2019, the City Planning Commission voted to approve an application for the development of a 15 story mixed-use building in the Mott Haven section of the Bronx. The building will have approximately 100 residential units and will be located at 472-474 Willis Avenue between East 146th and East 147th Streets. The development site will be leased to the … <Read More>
Comptroller’s Report Shows Scope of City’s Affordable Housing Crisis
The report closes in on housing needs for low- and extremely low-income households and proposes four initiatives on how to provide affordable housing for these households. On November 28, 2018, New York City Comptroller Scott M. Stringer released its NYC for All: The Housing We Need report showing the scope of the City’s affordable housing crisis. According to the report, the city’s population grew nearly half a million between 2009 and 2017 and city employment … <Read More>
Proposed Building to Bring 52 Affordable Units to Belmont Area of the Bronx
The building will be entirely affordable and environmentally efficient. On October 31, 2018, the City Planning Commission held a public hearing on an application to construct a mixed-use, mixed income building at 4697 Third Avenue in the Belmont section of the Bronx. The Department of Housing Preservation (HPD) brought the application to designate 4697 Third Avenue as an Urban Development Action Area, requiring the ULURP process. The applicant team consists of the developer Bronx … <Read More>
HPD and HDC Announce Vacant Lot Will Be Transformed Into 79-Unit Affordable Housing Development
The new affordable housing development will also include a community space that houses a local church and a non-profit organization. On October 4, 2018, the Department of Housing Preservation and Development and the Housing Development Corporation announced the start of the construction of a 79-unit affordable housing development on a previously vacant city-owned lot in Harlem. HPD and HDC partnered with Lemor Development, TD Bank, Street Corner Resources, and the Downtown Baptist Church of Christ … <Read More>
669 Affordable Units Preserved in New York City Neighborhoods
Preservation of Section 8 properties will prevent conversion to market-rate housing. On August 15, 2018, the Housing Preservation and Development, the Housing Development Corporation, and the LIHC Investment Group announced the preservation of 669 units of project-based Section 8 housing in high-cost City neighborhoods where similar buildings have been converted to market-rate housing.