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.