Renderings of the new co-op buildings that will be part of the Soundview campus, one of the many projects initiated by the City in 2020. Image Credit: NYCHA
The newly financed homes keep New York City on track to meet its goal to provide 300,000 affordable homes by 2026. On February 9, 2021, Mayor Bill de Blasio announced that the City financed the construction and preservation of 29,521 affordable homes in 2020. Fifty-seven percent of the affordable homes financed in 2020 will serve families of three that earn less than $52,000 per year. The city has financed over 177,000 homes through the Housing New York plan since 2014. The city has leveraged over $7.4 billion in city capital subsidy to drive a $39.4 billion investment for the five boroughs. (read more…)
Rendering of 461 Alabama Avenue. Image Credit: NYC CPC
The new building will have 43 apartments for formerly homeless individuals. On January 9, 2019, the City Planning Commission voted unanimously to approve an application for the development of a seven-story residential building at 461 Alabama Avenue in the Brownsville section of Brooklyn. The City Planning Commission held a public hearing for the application on December 5, 2018. The applicant team consisted of the Department of Housing Preservation and Development, CB Emmanuel Realty LLC, Services for the Underserved and Newman Design. (read more…)
The Doe Fund breaks ground on affordable housing development at 3188 Villa Avenue in the Bronx. Image credit: The Doe Fund.
The development will provide onsite supportive services for residents. On December 7, 2018, The Doe Fund broke ground at 3188 Villa Avenue, located in the Bedford Park/Special Grand Concourse District of the Bronx to begin construction of a 68-unit affordable and supportive housing development. The Doe Fund is partnering with Chase Community Development Banking to finance the construction, as well as the Department of Housing Preservation and Development, NYCHA, the Corporation for Supportive Housing, and the Human Resources Administration. (read more…)
