The affordable housing lottery has launched for 505 State Street, a 44-story mixed-use building at 100 Flatbush Avenue in Downtown Brooklyn. Designed and developed by Alloy Development, the structure yields 440 residences. Available on NYC Housing Connect are 45 units for residents at 40 to 100 percent of the area median income (AMI), ranging in eligible income from $29,109 to $127,100.
Avery Hall has closed on a $72.5 million construction loan to complete a new 17-story rental property at 544 Carroll Street in Gowanus, Brooklyn. The loan, provided by TD Bank, was arranged by JLL Capital Markets on behalf of Avery Hall and co-developers Declaration Partners and Bridge Investment Group.
The first phase of the Starhill affordable housing complex has topped out in the Morris Heights section of The Bronx. The complex is currently addressed as 1600 Grand Avenue and this first phase will include a 14-story building with 326 affordable apartments, including 200 units for formerly homeless adults grappling with substance abuse.
The New York City Planning Commission has approved plans to construct a 970-unit affordable housing complex along the Bronx River waterfront. Located in the Crotona Park East neighborhood, the development is currently addressed as 1460-1480 Sheridan Boulevard and will include three 24-story buildings.
A mixed-use development at 335 Fifth Avenue in Chelsea, Manhattan has officially broken ground. Located at the corner of Fifth Avenue and 3rd Avenue, the project is the latest development from MAG Partners and global holding company Safanad, who’ve retained COOKFOX Architects to design the property and Urban Atelier Group as general contractor.
