The affordable housing lottery has launched for 2724 Heath Avenue, a seven-story residential building in University Heights, The Bronx. The 51,610-square-foot development was designed by Marin Architects and developed by Stagg Group, and yields 64 units. Available on NYC Housing Connect are 28 units for residents at 120 percent of the area median income (AMI), ranging in eligible income from $56,572 to $154,680.
Articles by Vanessa Londono
A recent acquisition of an affordable senior community at 1313 Baltic Avenue in Atlantic City, New Jersey will preserve its affordability for 30 years. Standard Communities, the affordable housing division of Standard Companies, acquired Baltic Plaza Apartments for approximately $38 million.
Today’s housing lottery round-up features three buildings in Queens and The Bronx with available affordable units on Housing Connect with deadlines closing within the next seven days.
Affordable housing developer Wilder Balter recently purchased a historic YMCA building in Tarrytown. The 41,537-square-foot, four-story structure at 62 Main Street was originally constructed in 1928 and has had numerous additions since then. RM Friedland, which brokered the deal, announced the $6.45 million sale and the developer’s intention to preserve the masonry façade, while turning it into 109 affordable housing units and 100 parking spaces for local merchants.
Fleet Financial Group is developing a state-of-the-art healthcare facility called Eastern Mirage Medical Center at 42-31 Union Street in Flushing, Queens. The 104,000-square-foot medical center will be located within the tallest building in Flushing, an 18-story mixed-use structure that will also house the Eastern Mirage hotel.