Developers and city officials recently celebrated the completion of 50 Penn, a 218-unit affordable housing property at 50 Pennsylvania Avenue in East New York, Brooklyn. Developed by Pennrose with design by Dattner Architects, the building’s residential collection includes include 56 studios, 96 one-bedroom, 48 two-bedroom, and 18 three-bedroom apartments.
The Moinian Group and Bushburg have successfully closed on a $105 million construction loan to complete 2840 Atlantic Avenue, a rising property in East New York, Brooklyn that will include residential and affordable housing units, community space, lower-level retail, and 109 parking spaces.
Developers and New York City officials recently joined to celebrate the first phase of completion at Linden Terrace, a 548-unit affordable housing complex in East New York, Brooklyn. Located at 2858 Linden Boulevard, the building comprises 234 affordable homes. The teams also celebrated the commencement of construction for the second and third buildings, which will eventually comprise 159 and 155 additional affordable apartments.
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.
A consortium of private developers recently closed on a $600 million loan to complete renovations and infrastructure upgrades across a 1,673-unit NYCHA public housing portfolio. Boulevard Together Developer LLC, a joint venture with The Hudson Companies, Property Resources Corporation, and Duvernay + Brooks, is undertaking the refurbishment of a total of 29 buildings in East New York.
