As reported by News 12, a ribbon-cutting ceremony was held today to celebrate the opening of Bedford Green, an affordable housing development in Bedford Park. Developed by Project Renewal, Bedford Green delivers 117 affordable and supportive housing units, including 71 units set aside for formerly homeless New Yorkers, families impacted by mental health or substance abuse, and people living with HIV/AIDS. The remaining units will be allocated to households earning up to 60% of area median income (AMI). The building designed by ESKW/Architects features a rooftop greenhouse and aquaponic urban farming system, which will be incorporated into horticultural therapy services as part of the wraparound services provided by Project Renewal.
Financing was provided by the New York City Housing Development Corporation (HDC), the New York City Department of Housing Preservation and Development (HPD), and the New York State Office of Temporary and Disability Assistance’s Homeless Housing and Assistance Program; a construction letter of credit and tax credit investing from Bank of America; grant funding from the Harold and Jeannette Weinberg Foundation, TD Bank, and Deutsche Bank Foundation; operating funding from the New York City Department of Health and Mental Hygiene and the New York City Human Resources Administration; and a pre-development loan from the Corporation for Supportive Housing. HSE served as deal counsel.