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

New York /
May.May 10, 2013 09:00 AM

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
Bronx
1. The Bedford II, Azimuth Development Group, 60 units, $1.14 million
2. Colgate Close, Colgate Close Limited Partnership, 66 units, $1.53 million

Brooklyn
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

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

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


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Mack-Cali CEO Mahbod Nia
Mack-Cali rebrands as Veris Residential, signifying shift in focus
Mack-Cali rebrands as Veris Residential, signifying shift in focus
Italians under indictment bought more than 130 South Florida homes: Pandora Papers
Italians under indictment bought more than 130 South Florida homes: Pandora Papers
Italians under indictment bought more than 130 South Florida homes: Pandora Papers
Prestige Realty Group's Tony Rodriguez-Tellaheche ()
Another Miami luxury broker journeys into the metaverse for sales
Another Miami luxury broker journeys into the metaverse for sales
Margaret Chin and Carlina Rivera (Getty)
At Soho rezoning’s 11th hour, housing may be cut
At Soho rezoning’s 11th hour, housing may be cut
Big Silicon Valley firm grabs 34K sf in Soho
Big Silicon Valley firm grabs 34K sf in Soho
Big Silicon Valley firm grabs 34K sf in Soho
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...