Merchants Capital has provided $104 million in construction financing for a major rehabilitation project at Harlem River Houses and the adjacent Harlem River II Campus, collectively known as Harlem River Houses I and II. The New York City Housing Authority (NYCHA) public housing complex sits between 151st and 153rd Street, Macombs Place, and Harlem River Drive in Harlem.
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.
The Landmarks Preservation Commission (LPC) unanimously approved a comprehensive renovation of the historic Harlem River Houses surrounding West 151st Street and Adam Clayton Powell Jr. Boulevard in Upper Manhattan. The scope of work includes major improvements to the existing landscape design and outdoor recreation areas, lighting and security improvements, new retail storefronts, refurbished apartments, and sustainability improvements.
The affordable housing lottery has launched for 7 Dey Street, a 34-story mixed-use building designed by FXCollaborative in the Financial District of Manhattan. The lottery is run in cooperation with SL Green, NYC Department of Housing Preservation and Development, and non-profit Settlement Housing Fund. Available on NYC Housing Connect are 63 units for residents at 70 to 130 percent of the area median income (AMI), ranging in eligible income from $45,566 to $167,570.
Construction is imminent on Twin Parks Terrace, a 14-story affordable housing development in the Bronx’s Fordham Heights neighborhood. Settlement Housing and Joy Construction are developing the project on land owned by New York City Housing Authority (NYCHA), in partnership with New York City Department of Housing Preservation and Development, New York City Housing Development Corporation, and NYCHA. Danois Architects is designing the mixed-use building that will include 182 residential units, amenities, 10,489 square feet of ground-floor retail, and 1,883 square feet of community facility space.
