State approves grants for affordable housing

TRD New York /
May.May 08, 2009 01:25 PM
alternate textLeft to right: Bushwick, Vito Lopez, East Harlem

The state Affordable
Housing Corp. and State of New York Mortgage Agency has approved $35.8
million in financing to build and renovate 669 housing units across the
state. “The grants announced today are an important investment in
communities throughout New York. From Brooklyn to Rochester,
renovations and construction of new units will assist thousands of New
Yorkers in need of affordable housing,” said Assemblyman Vito Lopez, chairman of the Assembly Housing Committee. Projects in New York City to get
funding include a 71-unit co-op at East 156th Street at Brook Avenue in
the Bronx, which will get $1.78 million; $3.02 million will go towards
acquiring and rehabilitating six buildings in Bushwick, Flatbush,
Harlem and Washington Heights; $3.2 million will help acquire and rehab
five buildings in Highbridge, Morris Heights, Bedford-Stuyvesant,
Brownsville and East Harlem; and $2.15 million will go to help build 66
condo units along Ely and Bartow Avenues in the Baychester section of
the Bronx. TRD

Related Articles

A rendering of 165 Broome Street (Credit: Handel Architects)

Nonprofit plans affordable housing development near Essex Crossing

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

1065-1075 Gerard Avenue in the Bronx 

Prana pays Related $36M in Bronx multifamily play

Renderings of Brookfield's Bankside in the South Bronx (Credit: ArX Solutions)

This is what Brookfield’s South Bronx megaproject will look like

205 Park Avenue (Credit: Google Maps)

Developer files plans for mixed-use project facing BQE

From left: The Blau and Berg Company's Karine Blanc, TD and Partners' Nana Duncan and Lemor Development Group's Kenneth Morrison (Credit: Blauberg, TD+Partners and Lemor)

Black developers say partnerships aren’t always equal

From left: 305 East 47th Street and 286 River Avenue (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Inwood has stayed affordable for a remarkably long time. That could soon change. (Credit: Wikipedia)

Inwood braces for gentrification