Renderings Revealed for Logan Fountain Affordable Property at 265 Logan Street in Cypress Hills, Brooklyn

Rendering of Logan Fountain - MHG ArchitectsRendering of Logan Fountain - MHG Architects

Renderings have been revealed for Logan Fountain, a 13-story affordable housing property at 265 Logan Street in Cypress Hills, Brooklyn. Designed by MHG Architects and developed in collaboration by The Hudson Companies, The Jericho Project, and HELP US, which recently closed on a $215 million financing package for construction, the 327,000-square-foot structure will yield 174 units and 7,677 square feet of ground-floor retail space. The property is bound by Atlantic Avenue to the north, Fountain Avenue to the east, and Logan Street to the west.

The building will be separated into two wings. The east wing will contain 69 affordable homes for low-income families earning between 50 and 70 percent area median income (AMI) and 105 homes for the formerly homeless. The west wing will comprise 169 apartments for homeless families and individuals being served by the New York City Department of Homeless Services.

Amenities for the affordable housing component will include a fitness room, a landscaped common courtyard with a children’s play area, multiple terraces with a garden area, bicycle storage rooms, and laundry rooms. For the formerly homeless families, the building will offer outdoor and indoor childcare space, bicycle storage, and a laundry room. In addition, on-site providers from The Jericho Project will provide supportive services tailored to each individual resident’s needs. HELP USA, a national social service provider for the homeless, will operate client care coordination and services for residents in the shelter.

The rendering shows an orthodox massing with several shallow setbacks and an orderly grid of windows. The façade is composed of varying shades of earth-toned paneling.

“Logan Fountain is an innovative model for new affordable housing and transitional housing in a single sustainable building,” said Sarah Pizer, development director, The Hudson Companies. “Residents in both components of Logan Fountain will receive on-site support services tailored to their needs.”

Financing was provided through tax-exempt bonds from the NY State Housing Finance Agency along with Citi, which provided the construction period letter of credit. The package also includes a subsidy from the New York City Department of Housing Preservation and Development, funding from former council member Rafael Espinal, and tax credit equity with Hudson Housing Capital as syndicator and JPMorgan Chase as investor. Citi provided the loan for the shelter portion, which is backed by a contract with the New York City Department of Homeless Services.

Construction will begin in August, with an expected completion in late 2024.

Subscribe to YIMBY’s daily e-mail

Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews

.

1 Comment on "Renderings Revealed for Logan Fountain Affordable Property at 265 Logan Street in Cypress Hills, Brooklyn"

  1. I think (hope) there’s a mistake in the first paragraph, which says there will be 174 units in this $215,000,000 project. In the second paragraph it says there are 174 units in the east wing plus 169 units in the west wing. That gets the per-unit construction cost below $700,000 which is steep but not ridiculous.

Leave a comment

Your email address will not be published.


*