Harlem affordable housing project set to open

June 11, 2010 01:15PM

From left: a rendering of Colon Plaza, the final product at 55 East 115th Street and developer Edward Poteat

An affordable housing development will open June 25 at 55 East 115th Street in East Harlem, according to developer Horsford & Poteat Realty. Colon Plaza contains 55 apartments, all for low-income families that make 60 percent of the area median income as well as the formerly homeless. The building also contains 1,350 square feet of commercial space.

Horsford & Poteat, which specializes in the development of affordable housing in New York City and Baltimore, began work on the six-story building, which is between Park and Madison avenues, in 2006. Colon Plaza has drawn the support of several local officials, including Manhattan Borough President Scott Stringer, City Council member Melissa Mark-Viverito and State Assembly members Adam Clayton Powell and Vito Lopez.

So far, approximately 3,000 applications have been filed for the apartment. The city Department of Housing Preservation and Development will select residents through a lottery system in July followed by move-ins the same month. The project cost $18 million, according to a spokesperson for the developer.

— Amy Tennery