$66.8M available to finance affordable housing statewide

The state Housing Finance Agency and the Affordable Housing Corporation announced today that $66.8 million in financing will be used to preserve and create 1,059 affordable housing units statewide. In Manhattan, $27.65 million will be used to construct an 11-story, 114-unit multifamily rental building at 625 West 140th Street. And in Brooklyn, a $1.4 million subsidy loan was given to the developers of 898-908 Liberty Avenue, where a three-story, 47-unit apartment building is under construction. A $640,000 grant was given to the Housing Partnership Development Corporation to construct 16 affordable condo units in Bedford-Stuyvesant. TRD

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