News

10.24.2022

Supportive Housing Development WFSSH at West 108th Street Debuts on the UWS

As reported in New York YIMBY, West Side Rag, 6sqft, and Real Estate Weekly, the new supportive housing complex WSFSSH at West 108th Street is now completed. Developed by the West Side Foundation for Senior and Supportive Housing, it consists of two buildings on West 108th Street and will provide 198 units of housing, about 60% of which will be for formerly homeless residents over age 55. The remaining units will be designated for low-income households. On-site supportive services will include crisis intervention counseling and case management. WSFSSH at West 108th Street will also include a health center operated by the Institute for Family Health. HSE served as deal counsel.

10.19.2022

Ribbon-Cutting for Tremont Residences

Affordable housing development Tremont Residences celebrated its completion with a ribbon-cutting ceremony this week. As reported in Connect CRE, Multi-Housing News, and 6sqft, the 11-story Tremont Residences will bring 199 units of affordable housing to the West Farms area of the Bronx. Sixty percent of the units will be set aside for formerly homeless New Yorkers, and supportive services including case management and mental health services will be provided on-site. Tremont Residences is located on the former site of a vacant, one-story retail building and was developed by Camber Property Group, Slate Property Group, and Westhab. HSE served as deal counsel.

10.05.2022

Ribbon-Cutting for Mixed-Use Development Chestnut Commons

Developers and community leaders gathered this week for a ribbon-cutting at Chestnut Commons, a new mixed-use development in East New York that will deliver 275 units of affordable housing. Twenty percent of the housing units will be set aside for formerly homeless New Yorkers who will also receive services from Housing Plus. The remaining units will be available to households earning between 20% -80% of the Area Median Income (AMI).

Chestnut Commons is certified as Passive House and includes solar panels, a rooftop garden, a building-wide organic composting program, and a biodigester that will generate fertilizer for use at Chestnut Commons and local farms.

The main floor of Chestnut Commons will be home to the 34,000-sq-ft Cypress Hills East New York Community Center, which will feature a computer lab, gym, fitness studio and commercial kitchen. Operated by the Cypress Hills Local Development Corporation, the Community Center’s programming will include workforce development; workforce training in construction, IT and the culinary arts; public benefits enrollment; college success preparation; youth and family services; small business technical assistance; recreational activities; youth-oriented music instruction provided by the Brooklyn Conservatory of Music; a satellite campus of CUNY Kingsborough Community College; and Collective Fare, a Black-owned chef collaborative.

The Brooklyn Federal Credit Union and East Brooklyn Mutual Aid will also occupy ground-floor space.

Funding for Chestnut Commons was provided through New York City Housing Development Corporation (HDC) tax-exempt bonds and subsidy, Housing Preservation Department (HPD) subsidy, Low-Income Housing Tax Credits (LIHTC), Brownfield Cleanup Program tax credits, Bank of America, and Reso A funds from Mayor Eric Adams during his time as Brooklyn Borough President and former New York City Council Member Rafael L. Espinal. HSE served as deal counsel.

More details and photos from the ribbon-cutting are available on the City of New York’s website, BK Reader and City Life.