City’s affordable housing effort gets $10M boost from state

May 10, 2013 09:00AM

The city’s push to boost affordable housing has been given a nearly $10 million boost by the state, Crain’s reported. The money will help create 486 new affordable units in eight projects spread across the five boroughs.

The state’s Department of Homes and Community Renewal announced Tuesday a $91 million housing-award program that will impact 33 projects and nearly 2,100 affordable units across New York state. The money will be a mix of grants and loans to nonprofit developers, and is expected to be the catalyst for over $485 million in private spending. 

“These funds will leverage hundreds of millions of dollars in private resources, creating valuable partnerships as we work to rebuild communities and create jobs in all corners of the state,” Gov. Andrew Cuomo said in a statement.

The full list of city projects receiving the money, according to Crain’s, is below. [Crain’s]  –Hiten Samtani
1. The Bedford II, Azimuth Development Group, 60 units, $1.14 million
2. Colgate Close, Colgate Close Limited Partnership, 66 units, $1.53 million

3. Bergen Saratoga Apartments, Dunn Development, 80 units, $1.75 million.
4. 695 Grand Ave., St. Nicks Alliance, 41 units, $1.08 million
5. Concern Bergen, Concern For Independent Living, Inc., 88 units, $1.36 million
6. Frost Street Apartments, Frost Street Apts LLC, 47 units, $1.34 million

7. 260-264 W. 253rd St., Harlem Congregations for Community Improvement, 51 units, $1.19 million

8. Calvary Grandparents Residences, Calvary Grandparents Residences, LLC, 53 units, $1.16 million