Nonprofit plans affordable housing development near Essex Crossing
Nearly 1,000 moderately priced homes and apartments are now available for purchase in the city through the Housing Partnership Development Corp., a non-profit that works to create new affordable housing with the help of government grants, subsidies and tax credits. Of those, 700 are located in Brooklyn’s Crown Heights and East New York neighborhoods and are priced up to 35 percent below market values. In the Bergen Street Co-ops, at 1509 Bergen Street in Crown Heights, Brooklyn families meeting a minimum income requirement of $54,000 per year can apply to purchase one-, two- and three-bedroom apartments, priced between $179,190 and $350,000. Homes like these are built with the help of government grants, subsidies and tax credits, which the Housing Partnership works to make available to developers selected by the city. Recently, funds were approved for the 104-unit Sterling Street Co-ops conversion, another of the organization’s projects, at 320 Sterling Street in Crown Heights. Construction on the project is 75 percent complete. In the Bronx, there are 200 affordable units currently available, and there are 75 in Queens. [Brooklyn Eagle via Curbed]
