BFC breaks ground on next phase of Coney Island affordable project
Three-phase development to deliver more than 1K units
BFC Partners is forging ahead on an affordable housing project that will bring more than 1,000 units to Coney Island.
The developer announced this week it has broken ground on the second phase of the project at 1607 Surf Avenue. This phase includes the construction of a 10-story mixed-use building with 376 affordable housing units. The building will also include 20,000 square feet for commercial and community use, as well as a primary care facility run by New York City Health + Hospitals.
The building will be include studio, one-, two- and three-bedroom apartments. A majority of the units will be available to those earning an income of 40 percent to 90 percent of the area median income. Additionally, 57 units are reserved for formerly unhoused households.
BFC is receiving financing for the Brooklyn project from the Department of Housing Preservation and Development.
The first phase of the Coney Island project is complete. The building at 2926 West 19th Street includes 400 affordable housing units and five retail spaces, Crain’s reported. Households earning 30 percent to 130 percent of the area median income can rent units, which range from $367 to $2,502 per month.
The $189 million project spans 361,000 square feet and is entirely affordable. According to Multi-Housing News, the third phase of the project will unfold at 1709 Surf Avenue. It’s not clear when that will begin.
BFC has more affordable housing plans in the works on one of New York City’s actual islands.
The developer earlier this month closed on the site at 475 Bay Street in Staten Island’s Stapleton neighborhood. Plans for the site were first filed in May 2020, but some of the project’s specifications have changed since.
BFC is planning a 250,000-square-foot development, entirely devoted to affordable housing. Of the planned 269 units, 131 are slated for tenants with a household income at or below 80 percent of the area median income, while the other 138 units will be for formerly unhoused seniors with incomes at or below 30 percent of the area median income.