Construction is now underway at 515 Blake Avenue, a large parcel of land in East New York that will eventually support 255 affordable housing units. The HELP ONE project will yield a mix of supportive housing and low-income apartments, and is among Brooklyn’s largest affordable housing projects announced this year.
Construction is rising above street level on 35 Commercial Street, a 22-story residential tower in Greenpoint, Brooklyn‘s Greenpoint Landing mega-complex. Designed by Handel Architects and developed by Park Tower Group along with Greenpoint Landing Associates, New York City’s Housing Preservation & Development (HPD), and the Housing Development Corporation (HDC), the 344,463-square-foot structure will yield 373 affordable housing units. Construction began last year after the acquisition of $170 million in construction financing. Monadnock Construction is the general contractor for the property, which is located between the intersection of Bell Slip to the west and Commercial and Clay Streets to the south.
Caton Flats, a new 14-story affordable housing property in Brooklyn, is now the new home of the Flatbush Central Caribbean Marketplace. Located at 2123 Caton Avenue in Flatbush, the marketplace formerly existed as Flatbush Caton Market and was a neighborhood staple for more than 20 years.
Phipps Houses has successfully closed on a $188 million financial package to complete the second phase of renovations at Lambert Houses. Located in the West Farms section of The Bronx, the affordable housing complex spans 12 acres of land near the Bronx Zoo.
LIHC Investment Group, Camber Property Group and Settlement Housing Fund have completed an $85 million acquisition of Lexington Court in East Harlem. The nine-building complex comprises 229 affordable apartments primarily along East 118th and East 119th Streets surrounding Park, Lexington, and Third Avenues.
