News

As reported by Adventist Today and Adventist News, a ribbon-cutting ceremony was held today for Northeastern Towers Annex, an upcoming affordable housing development in southeast Queens that will be constructed adjacent to the existing Northeastern Towers senior citizen affordable housing development. When completed, Northeastern Towers Annex will provide 158 units of affordable housing for residents at or below 50% of Area Median Income (AMI), a community room, exercise and wellness center, social service office suite, and rooftop terrace and garden.

As reported in Urbanize New York, permits have been filed for a 15-story residential building at 888 Fountain Avenue in the East New York neighborhood of Brooklyn. Developed by L+M Development Partners and designed by Dattner Architects, 888 Fountain Avenue will create over 400 residential units and 8,000 square feet of commercial space.

An opinion piece in the New York Daily News cited the Bronx Point and Gotham Point / Hunters Point South affordable housing developments as examples of new developments that meet The Waterfront Alliance’s Waterfront Edge Design Guidelines (WEDG).

Phipps House has closed on $217 million in construction financing for the first phase of the Atlantic Chestnut affordable housing development, as reported by the New York Real Estate Journal. When completed, Atlantic Chestnut will be the largest project developed under the 2016 East New York rezoning. The New York City Department of Housing Preservation and Development (HPD), the New York City Housing Development Corp.’s (HDC) ELLA Program, and Wells Fargo provided financing.

As reported in the New York Real Estate Journal, a Temporary Certificate of Occupancy was issued to the Doe Fund for the new affordable and supportive housing development at 1325 Jerome Avenue. Featuring 82 studio units, 92 one-bedroom units, 53 two-bedroom units, 27 three-bedroom units, and one live-in superintendent, the development is the largest of The Doe Fund’s eleven affordable and supportive housing residences in operation and development. It will serve formerly homeless individuals and individuals and households from the NYCHA waitlist.