A planned revitalization of the former 54,000 square-foot Greenpoint Hospital campus will transform it into a community hub that provides affordable housing, outdoor open spaces and community spaces, health clinic, senior center, workforce development center, and cafe. Two existing buildings will be rehabilitated and two new buildings will be constructed.

As reported in BKReader, $66 million in financing from Prudential Private Capital and a predevelopment loan from the New York City Energy Efficiency Corporation was secured for the first phase of the redevelopment. The developers are The Hudson Companies, St. Nicks Alliance and Project Renewal. Project partners include the New York City Department of Homeless Services (DHS), the New York City Department of Housing and Preservation Development (HPD), and the New York State Historic Preservation Office. HSE served as deal counsel.

Phase One will focus on creating a 200-bed men’s homeless shelter in the former nurses’ residence. Project Renewal, one of the project’s developers, will provide and manage client coordination and services for the residents. Phase Two will create 311 affordable homes at 30-80% Area Median Income (AMI).