Nonprofit plans affordable housing development near Essex Crossing
The city is turning to its critics to help meet its ambitious affordable housing goal.
Mayor Bill de Blasio’s administration has chosen a development team of MHANY Management, the Cypress Hills Local Development Corp. and the Urban Builders Collaborative to develop a project with 274 units of affordable housing on the largest public site in East New York, according to Crain’s.
MHANY’s executive director Ismene Speliotis is not a big fan of the city’s affordable housing plan, arguing that officials should make more apartments permanently affordable and include more affordable units in mixed-income projects.
This project, which the developers have said will be permanently affordable, will rise between Dismore Place and Chestnut Street along Atlantic Avenue and include a theater and community center.
East New York went through a sweeping neighborhood rezoning last year , and several developers have pitched affordable projects. These include B&B Urban’s 100-unit project at 315 Linwood Street and Monadnock Development’s plan for a 21-building complex at 389-516 Schroeders Avenue, 1111-1123 Ashford Street and 127-129 Gateway Drive.
The Real Deal recently explored what’s changed since the rezoning, and found that developers still haven’t planned any market-rate projects in East New York. [Crain’s] – Eddie Small
