“The overall funding includes $325 million for the building along with $25.5 million for the waterfront esplanade’s construction from the New York City Economic Development Corp. The Wall Street Journal reported some of the financing comes from state grants, equity from the developers and federal tax credits and Brownfield tax-credit equity from Wells Fargo.”
“Located on city-owned land near the 145th Street Bridge, the mixed-use development will transform a dirt tract into a new community of over 1,000 affordable apartments with three-acres public open space and cultural and community-focused spaces that include a permanent home for the Universal Hip-Hop Museum, an early childhood space and outdoor science programming.”
The Bronx Point development will include 542 units of affordable housing, approximately 2.8 acres of public open space, and a permanent home for the Universal Hip Hop Museum.
Construction on affordable housing development Melrose North is slated to begin in January 2021. The $92 million Melrose North project will provide 171 units of supportive and affordable housing to the South Bronx neighborhood of Morrisania.
Construction topped out recently at 980 Westchester Ave, which will be known as Tiffany Court Plaza. The seven-story mixed-use building will include affordable and supportive housing, as well as 28,000 square feet of commercial space.
Gotham Point / Hunter’s Point South ‘Parcel G,’ a mixed-use development including affordable housing, is nearing construction topping out. The 33-story tower will also include a community facility.
Congratulations to WXY Architecture, Body Lawson Associates, and Elizabeth Kennedy Landscape Architect for winning the 2020 Architectural News Best of Design Awards in Urban Design for The Peninsula, and to Handel Architects for earning an honorable mention in Mixed-Use Residential for the Essex at Essex Crossing. You can view the full list here.
Phase One of East Harlem affordable housing development Sendero Verde has topped out. The development will create 360 units of affordable housing and will feature on-site social services including occupational therapists, case managers, and art and dance classes.
Beach Green Dunes II received an Affordable Honorable Mention in the 6th Annual PHIUS (Passive House Institute US) Passive House Projects Competition. The L+M Builders Group project designed by Curtis + Ginsburg Architects features spatial and technological strategies for ultra-low energy consumption, including a rooftop PV arrays and a centralized ERV system.
Multi-Housing News’ awarded The Essex at Essex Crossing and Handel Architects the 2020 Excellence Award (Gold) for Best Development and Design (Mixed-Use). You can read more about the awards here.
The Bronx Point mixed-use development has received an Award for Excellence in Design from the New York City Public Design Commission. The award recognizes projects that exemplify best practices in public design. Congratulations to the developers and designers of this important project.
The Real Deal‘s coverage of the 121 West 125th Street development include additional renderings. The 17-story mixed-use building will include the new headquarters of the National Urban League and 170 units of affordable housing.
The National Urban League will move its headquarters to 121 West 125th Street in Harlem, as part of a 17-story mixed-use development that will include 170 affordable housing units, office space for the United Negro College Fund and One Hundred Black Men of New York, and the Urban Civil Rights Museum Experience, New York City’s first civil rights museum.
Goldman Sachs will contribute $188 million of the project’s $242 million total cost. Other components of the financing package include tax-exempt bonds issued by the state Housing Finance Agency, subordinate financing from New York State Homes and Community Renewal, and tax credits purchased by Goldman and Santander Bank.
AIA New York announced the recent groundbreaking for 980 Westchester Avenue in the Bronx. Architecture firm GF55 is designing the project, which will include 150 affordable housing and supportive housing units.
“Governor Cuomo Unveils Plans for New Affordable Housing Development in Flatbush as Part of $1.4 Billion Vital Brooklyn Initiative”
Congratulations to our client CAMBA Housing Ventures, who will be developing Clarkson Estates in the Flatbush neighborhood of Brooklyn. Clarkson Estates will include 291 affordable apartments, half of which will be set aside for youth aging out of foster care, formerly incarcerated individuals, and formerly homeless young adults.
Congratulations to 3365 Third Avenue in the Bronx and developer Bronx Pro Group for winning the 2020 U.S. Green Building Council’s Outstanding Affordable Project award. “This LEED Platinum project demonstrates that quality housing can be both affordable and sustainable and was designed to encourage community building,” the USGBC wrote. You can read the full award description on the USGBC’s website.
980 Westchester in the Bronx will feature 151 affordable and supportive housing units. The development is funded through private and public funding sources, including the Housing Development Corporation’s Extremely Low & Low Income Affordability (ELLA) program, federally tax-exempt bonds, and low-income housing tax credits.
Seven non-profit groups will call the Bedford Union Armory home, including Digital Girl, which focuses on bridging the digital divide by providing computer instruction and workforce training; the James E. Davis Stop the Violence Foundation; the Brooklyn Community Pride Center; the West Indian American Day Carnival Association; and the Ifetayo Cultural Arts Academy, which empowers youth and families of African descent to achieve high levels of educational, professional, and artistic excellence.
Hunter’s Point South was featured in Azure as an example of successful holistic affordable housing. “The Current Crisis Makes it Clear: We Need a New Deal for Affordable Housing” features insights by the project architects and explains how Hunter’s Point South addresses issues of inclusion, environmental justice, and equitable community. The full article is available here.
The Real Deal named Phipps Houses’ new development at 17-21 Redfern Avenue as one of the top 10 largest projects filed in New York City in May. Part of the Rockaway Village complex, the 12-story building will include 354 residential units.
HSE is deal counsel for Archer Towers, a 24-story, 540,000 square foot residential development that will include 424 market-rate apartments and 181 mixed-income units.
New York City-based Waterfront Alliance announced that the Bronx Point development is the first affordable housing project to achieve national Waterfront Edge Design Guidelines verification.
Three mixed-use buildings are part of Phase 3 of the Rockaway Village complex, which will create 1,700 new affordable housing units.
CityRealty gives a preview of Bronx Point, a 585,000-square-foot mixed-use project that will feature 540 permanently affordable housing units, educational and community space, acres of parkland, and the Universal Hip Hop Museum.
Northeastern Towers Annex will include a community room, media room, wellness center, library, landscaped rooftop, and onsite social services provided by the Hellenic American Neighborhood Action Committee.
Slater & Beckerman P.C. Merges Into Hirschen Singer & Epstein LLP
Effective March 10, 2020, the law practice of Slater & Beckerman P.C. has merged into Hirschen Singer & Epstein LLP (HSE).
For decades, Slater & Beckerman P.C. has been widely recognized as one of the premier zoning and land use firms in New York City, representing real estate developers, property owners, lending institutions, architects, contractors, and educational and cultural institutions.
As part of HSE, the Slater & Beckerman team will enable the firm to provide a broad spectrum of zoning and land use services to their clients, seamlessly integrated into HSE’s existing foundation in government assisted real estate and real estate finance transactions. HSE’s zoning and land use services will include all matters zoning and land use-related, including zoning due diligence and analysis, zoning lot mergers and transfers of development rights, and applications to New York City land use agencies, including the City Planning Commission, the Board of Standards and Appeals, and the Landmarks Preservation Commission.
“We are thrilled to have the zoning and land use team from Slater & Beckerman join us at HSE,” said HSE partner Christine A. Coletta. “In addition to being extremely skilled and diligent lawyers, they share our mission driven culture, which makes this an ideal match. Both firms value the opportunity to use our knowledge, experience and creativity to galvanize transactions and developments that foster an inclusive, vibrant and affordable New York City. This merger will put us in position to offer a more comprehensive array of services to our clients in furtherance of that ultimate goal.”
“Like the attorneys at HSE, we care deeply about the people and the built environment of New York City and are dedicated to doing the best work possible for our clients, which include developers of residential and commercial projects, as well as lenders and non-profit institutions,” said Stuart Beckerman, new partner at HSE and former managing principal at S&B. “The energy, passion, creativity and experience of HSE’s attorneys were a huge draw for us. We see this merger as a win-win for us and an added bonus for our clients, who can now draw from a larger pool of expertise.”
Founded in 1978, HSE specializes in the representation of for-profit and not-for-profit developers in a wide variety of complex real estate transactions, including the development and operation of affordable housing, community facilities, transitional housing and shelters, charter schools and mixed-use projects under federal, state and city programs. Their experienced attorneys have shaped significant real estate developments throughout the New York City metro.
“New affordable housing development in Queens boasts resilient and eco-friendly apartments for low income New Yorkers”
Eight-story Beach Green Dunes II will feature geo-thermal energy generation from ground water taken from 36 wells 450 deep into the ground, resulting in a 75% savings on water heating.
“Your Home NYC: Mayor de Blasio Welcomes Home Tenants at New, Resilient Affordable Housing Development in Queens”
Beach Green Dunes will bring 127 new homes, retail, and outdoor recreation space to the Edgemere neighborhood of Queens.
Affordable housing development Caton Flats was expected to top out this spring, but achieved the milestone earlier this month.
As reported in Multi-Housing News, the Gotham Organization and RiseBoro will develop a two-tower community within the larger Hunter’s Point South site. Gotham South will provide more than 1,100 residential units, 75% of which will be designated for permanently affordable housing. Over $445 million in financing has been secured for the joint venture, including a $311 million construction loan from the New York City Housing Development Corp. (HDC) and $134.4 million from the Department of Housing Preservation and Development (HPD).