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Rendering courtesy of Village of Westbury.

$100 Million Transit-Oriented Development Coming To Westbury, Long Island

The Westbury Village Board of Trustees has unanimously approved plans for a new five-story mixed-use residential development in Westbury, Long Island. Developed by Gotham Organization, the complex will yield 184 apartments, with 10 percent dedicated to affordable housing. The project will also include more than 15,000 square feet of ground-floor retail space, 254 parking spaces, and a public plaza. The 1.92-acre property is bounded by Railroad and Post Avenues and is located directly next to the Westbury Long Island Rail Road station.

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$50.15 Million In Financing Secured For Two-Property Industrial Portfolio In Maspeth, Queens

Financing has been arranged for a two-property industrial portfolio in Maspeth, Queens. Lake Forest Bank & Trust Company, N.A. supplied the $50.15 million in debt, which JLL’s Capital Markets group arranged on behalf of Sitex Group and a diversified global investment management firm. The financing comprises a $39.4 million loan for 58-80 Borden Avenue and a $10.75 million loan for 54-12 48th Street. The portfolio spans a combined 182,511 square feet of land and is 100 percent leased, with both properties positioned near the Long Island Expressway and the Brooklyn-Queens Expressway.

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Fordham Landing South. Rendering courtesy of Perkins Eastman.

New Design Revealed for Four-Tower Fordham Landing South Complex in University Heights, The Bronx

New renderings have been revealed for Fordham Landing South, a four-tower mixed-use residential complex at 330 and 360 West Fordham Road in University Heights, The Bronx. Designed by Perkins Eastman and developed under the DS Fordham Landing 1 LLC, the development will consist of a 33-story structure and three 18-story towers rising from a shared podium, and will yield a total of 927 affordable housing units. The project will also include 12,500 square feet of community facility space, on-site parking, a cafe, and supermarket. The property is located on the eastern bank of the Harlem River at the intersection of Exterior Street and West Fordham Road, which connects to the University Heights Bridge.

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Reid & Park Rock Completes Modernization of 1,696 Affordable Units Across Brooklyn

Renovations are finished on Reid & Park Rock, a $636 million rehabilitation of 15 New York City Housing Authority developments in Brooklyn. Completed through NYCHA’s Permanent Affordability Commitment Together (PACT) program by the Reid Park Rock PACT Partners, a team of Fairstead, BRP Companies, Urbane, and the Local Development Corporation of East New York, the project modernized 1,696 affordable homes across 87 residential buildings for nearly 3,000 residents. The scope also included upgraded lobbies and common areas, new storefronts and community spaces, free community-wide Wi-Fi, and extensive site, landscaping, and outdoor amenity improvements. The properties are scattered across the East Brooklyn neighborhoods of Brownsville, Ocean Hill, East New York, and Crown Heights.

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