City Council approval paves way for four new affordable housing projects

Approvals to bring additional low-and-middle-income housing to East Harlem and the Bronx

New York /
Nov.November 30, 2016 11:05 AM

Updated, 1:55 p.m., Nov. 30: In a major win for Mayor Bill de Blasio’s affordable housing platform, the City Council approved four residential developments that will increase the number of low-and middle-income housing in East Harlem and the Bronx.

On Tuesday, the council approved a plan to rezone a lot in East Harlem that will give the green light to a L+M Development Partners and Tahl Propp Equities developed 8 t0 15-story, 411,725 square foot building, at Lexington Avenue between 107th and 108th streets Politico reported.

The fully-affordable 400 unit development is subject to MIH, a 40-year regulatory agreement with HPD, rent stabilization laws and an Article 11 tax abatement. According to the developers, 20 percent of the units will be rented to households making 30 percent of the area median income and 30 percent of the units will be rented to those making 50 percent of the AMI. The remaining 200 units will go toward those making 80 percent of the AMI (30 percent of households) and up to 130 percent of the AMI (20 percent of households).

Three residential projects in the Bronx were also approved. The largest was Lambert Houses, where affordable housing development firm Phipps Houses is leading the $600 million revamp of the complex. The overhaul will bring the total number of affordable units at the complex to 1,665 — double the current figure.

“It will offer deeper affordability, significant infrastructure improvements and community upgrades that will benefit all of the residents of the West Farms neighborhood in the Bronx,” Council member Ritchie Torres told the publication.

The other two projects that were approved are Melrose Commons and Second Farms, both of which will be entirely rent-regulated, according to the publication.

Affordable housing is a signature policy for the de Blasio administration, though the administration has been stymied by developers and fellow politicians in recent months. Earlier this month, Fortis Property Group abandoned plans to include affordable housing at its Long Island College Hospital development in Brooklyn.

In August, a council subcommittee voted against Washington Square Partners and Acadia Realty Trust’s Sherman Plaza in Inwood. In September, Phipps Houses withdrew a rezoning application that would have paved the way for its affordable housing development in Sunnyside. [Politico]Miriam Hall

Correction: Due to incorrect information provided by the city council’s press office in the source article, a previous version of this story stated that there were 390 apartments planned for the L+M Development and Tahl Propp Equities project. There are 400. The previous version also misstated the required income brackets for certain apartments at the project.


Related Articles

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

Nonprofit plans affordable housing development near Essex Crossing

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

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
Kirk Goodrich, president of Monadnock Development, is opposed to the bill sponsored by Bran Lander. (Getty, Monadnock Development)

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers
Ray McGuire photographed by Axel Dupeux.

The Closing: Ray McGuire

The Closing: Ray McGuire
Belveron Partners founder Paul Odland with 2000 Valentine Avenue (left) and 1985 Webster Avenue in the Bronx (Photos via Google Maps; Twitter)

Belveron Partners closes $280M fund for affordable housing

Belveron Partners closes $280M fund for affordable housing
City Council members Brad Lander (right) and Robert Cornegy

Lander seeks to keep for-profit developers from acquiring city-owned land

Lander seeks to keep for-profit developers from acquiring city-owned land
Cea Weaver and Public Advocate Jumaane Williams (Getty; Weaver via Elijah Stevens)

“Cancel rent” housing activist tapped for City Planning Commission

“Cancel rent” housing activist tapped for City Planning Commission
Open New York's Will Thomas and Kyle Dontoh (Photos via Getty; iStock: Open New York)

Outsiders for years, NYC yimbys move into mainstream

Outsiders for years, NYC yimbys move into mainstream
arrow_forward_ios

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

Loading...