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 … <Read More>
Search Results for: Economic Development
Zoning for Economic Opportunity Aims to Remove Zoning Obstacles for Certain Types of Businesses
On Wednesday, June 1, Mayor Eric Adams outlined his, “City of Yes” initiative. This initiative is the next phase of his, “Rebuild, Renew, Reinvent,” plan to stimulate recovery from the COVID-19 pandemic. “City of Yes,” is built around a series of three as-yet-unwritten zoning text amendments to modernize and simplify zoning resolutions to encourage business growth, stimulate housing creation, and reduce the city’s carbon footprint.
City and State Officials Announce Completion of Affordable and Supportive Housing Development in Coney Island
The new building is 500 feet from the beach and boardwalk. On March 30, 2022, Governor Kathy Hochul and the New York City Department of Housing Preservation and Development (HPD) announced the completion of a new affordable and supportive housing development in Coney Island, Brooklyn. The mixed-use development, called Raven Hall, has 216 affordable apartments and ground floor retail. It is located at 2006 Surf Avenue. The development team consists of Georgica Green Ventures, LLC … <Read More>
NYCHA Announces $261 Million in Completed Renovations for Three Developments in the Bronx
The private and non-profit partnership allows for more funding while maintaining resident public housing rights. On February 17, 2021, the New York City Housing Authority (NYCHA) announced the completion of upgrades in three NYCHA developments across the Bronx. The upgrades at the Baychester, Murphy, and Betances Houses impact 54 buildings and 1,810 units and are the home to an estimated 4,300 people. The renovations cost $261 million.
CityLaw Profile: Elizabeth Fine, General Counsel, Empire State Development Corporation
Elizabeth Fine became General Counsel and Executive Vice-President of the Empire State Development Corporation in 2014 after a long career of government service. Fine grew up in New Haven, Washington D.C., and Lima, Peru. Her family eventually settled in the Boston area, where Fine graduated Brookline High School. Jonathan Fine, Elizabeth’s father, had worked in Lima for the Agency for International Development while her mother, Edith W. Fine, was an administrator for the Peace Corp. … <Read More>
NYCEDC Announces Community Outreach Phase of Hunts Point Redevelopment Plan
The New York City Economic Development Corporation (NYCEDC) selected a team at the Pratt Center for Community Development to facilitate community outreach for a plan to redevelop Hunts Point. Starting this spring, NYCEDC and the Pratt Center for Community Development will host public workshops and meetings for the Hunts Point community as part of its engagement plan. Over the next 18 months, residents and businesses will share their opinions on the current state of Hunts … <Read More>