Work is complete on 90 Sands Street, a 30-story residential tower in DUMBO, Brooklyn. Designed by Beyer Blinder Belle and developed by Breaking Ground, the project involved the redevelopment of the former Jehovah’s Witness Hotel and yields 491 units with a portion devoted to deeply affordable housing and supportive housing for the formerly homeless, as well as a 28,000-square-foot community facility and commercial space spanning the first and second floors and a public plaza at the corner of Sands and Jay Streets.
“We are thrilled to open 90 Sands at such a critical time for New York City to abate a relentless homelessness crisis and provide much-needed housing for low-income and formerly homeless New Yorkers,” said Brenda Rosen, president and CEO of Breaking Ground. “Over the course of two years the redevelopment of 90 Sands remained on schedule and in turn was scaled for impact to help more than 300 people leave homelessness behind and find dignity and security with a home of their own.”
90 Sands Front Entrance – Photography by Wes Tarca
90 Sands Ground Floor – Photography by Wes Tarca
90 Sands 29th Floor Observatory – Photography by Wes Tarca
The affordable component includes 185 units designated for extremely low to moderate-income households, and 305 units reserved for formerly homeless individuals. Half of the units, a total of 246, are permanently affordable, and the balance are affordable under a 60-year regulatory agreement.
Amenity spaces include a multipurpose room for community events and meetings, a digital library, a fitness room, and bike storage. The Center for Urban Community Services will provide onsite social services to 90 Sands residents including case management, primary medical care, mental health services, employment readiness, and benefits counseling, among others.
“Our first hotel conversion project to open amid the pandemic, 90 Sands advances key goals of equity and inclusion, bringing an additional 185 affordable apartments for New Yorkers with extremely low- to moderate incomes in one of the city’s most expensive neighborhoods,” Rosen said.
90 Sands Ribbon Cutting – Photography by Rod Morata_ Michael Priest Photography
Breaking Ground purchased the hotel in August 2018 for $170 million. For the acquisition of 90 Sands, Breaking Ground received $2 million from the New York City Council, a $155 million loan from the NYC Department of Housing Preservation and Development (HPD), and a $10 million grant from Enterprise Community Partners, Inc. Breaking Ground provided a $6.7 million sponsor loan to finance acquisition and pre-construction costs. The Leviticus Fund also provided $1.5 million in pre-construction financing. Subsequent to the acquisition, Breaking Ground obtained a zoning change for the project in 2020 after an approval pursuant to the city’s land use review procedure.
The renovation and repositioning of the building as supportive and affordable housing was financed by 501c3 and taxable bonds totaling more than $70.4 million issued by the New York City Housing Development Corporation (HDC). HDC provided an additional $6 million in capital subsidy. Construction financing was also supported by a grant from the Federal Home Loan Bank of New York’s Affordable Housing Program. JPMorgan Chase provided a construction letter of credit.
Other contributions include a $3 million lead grant from Wells Fargo, support from Deutsche Bank’s DB SHARE program, and National Grid.
“90 Sands demonstrates exactly why we fought for hotel conversion legislation in Albany: To create affordable housing more quickly and efficiently than we can starting from scratch,” said New York City Mayor Eric Adams. “I promised we would celebrate New Yorkers getting into homes, not people signing deals, and I am proud to say that with our innovative referral pilot, we housed 80 people here in just one week.”
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The 80s are back, and it’s not bad.
Oh yes it is
I think the building was built in the 90s.
It’s one of my favorite decades.
How can I apply for a one bedroom apartment without going through Housing Connect? Housing Connect has denied me to many times.I need a place to live like NOW!!!! It’s sad how the cost of living has become super expensive. I need help.I need to move by January 2023.
How can I apply for a two Bedroom I need one Asap