Brokers help build affordable housing

Jul.July 22, 2008 01:37 PM

Members of Brokers Build will don hard hats and tool belts at a Brooklyn construction site on July 30 to help Habitat for Humanity build its largest project ever.

Stan Ponte, president of the previews marketing division of Coldwell Banker Hunt Kennedy, launched Brokers Build last year to raise money for affordable housing.

By the end of this year, the group aims to raise $1 million for Habitat-NYC’s 41-unit affordable housing complex, which is already under construction at 1870 Eastern Parkway in Crown Heights. Brokers Build is contributing to the funding of 11 of the 41 condos, which will be housed in three buildings.

Brokers Build hopes to recruit 1,000 members who will each donate $1,000. Alan Pfeifer, a member and senior vice president at Halstead Property, said several hundred people have been recruited, and said Joshua Lockwood, executive director of Habitat-NYC, said the group has already raised more than $125,000 for the project.

The project is being built by 10,000 Habitat volunteers. The homes, which are expected to be ready by the fall of 2009, are being designed for a LEED rating from the U.S. Green Building Council. Residents will have incomes in the $25,000 to $45,000 range, and will be offered a 30-year fixed rate mortgage tied to their income.

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Fredrik Eklund (Credit: Getty Images)

Fredrik Eklund talks LA condos, the mega-luxury market and patience

Boise, Idaho (Credit: iStock)

These small US cities have exploding luxury markets

(Credit: iStock and Google Maps)

The cheapest house in America’s richest town is listed for $2.5M

Medical staff outside of a Beijing hospital in February 2020 (Credit: Getty Images)

Coronavirus is wreaking havoc on China’s landlords

5Pointz (Credit: EMMANUEL DUNAND/AFP via Getty Images)

Judge upholds $6.75M award for 5Pointz artists