EV affordable housing rehab complete

The rehabilitation of a 111-year-old East Village apartment building is complete and a loan for the permanent financing of its 19 affordable housing units closed yesterday, according to the Urban Homesteading Assistance Board, which is the sponsor and interim owner of the project. UHAB is a non-profit that supports affordable limited equity cooperative
housing in the city. Now complete, 209 East 7th Street will become a low-income cooperative, of which residents will purchase shares and take control over the next few weeks. Financing for the rehabilitation project cam from a loan from National Cooperative Bank, sweat equity and a grant from the New York State Weatherizaton Assistance Program. TRD