A new public-private development partnership led by Exact Capital will create two new affordable cooperative buildings in West Harlem, Manhattan. The new buildings will improve vacant parcels at 207-209 West 140 Street and 304 West 150 Street, and create a total of 52 homes.
The taller property at 304 West 150 Street will top out at 12 stories with 34,129 square feet of residential area. The building will house 31 cooperatives that range from studios to three-bedroom floor plans. The property at 207-209 West 140 Street will comprise 21,162 square feet and top out at six stories. For this building, cooperatives will be limited to one- and two-bedroom residences.
Exact Capital partnered with Harlem Equitable Development Corp., a non-profit affiliate of Harlem Congregations for Community Improvement, and New York City’s Department of Housing Preservation and Development. The buildings are designed by Aufgang Architects.
The renderings show the taller structure clad in warm colored brick, with a grid of smaller windows in a center column flanked by sections of floor-to-ceiling glass with black mullions. The shorter building features a gray brick façade with a distinctive grid of windows with protruding frames and planters.
“While Exact Capital develops affordable housing throughout the United States, as a company based in Manhattan, we take particular pride in creating an opportunity for New Yorkers with qualifying incomes to fulfill the American Dream of home ownership through new affordable co-op apartments in Harlem,” said Craig Livingston, managing partner of Exact Capital.
Cooperative sales will be limited to purchasers with household incomes at 80 to 90 percent area median income.