New renderings from Urban Architectural Initiatives are the first to reveal Euclid Glenmore Apartments, an eight-story affordable housing property at 437 Euclid Avenue in East New York, Brooklyn. Designed by The Lantern Organization and Mega Contracting Group, which closed on $11.5 million in construction financing to complete the project, the building will comprise 135 units. A total of 81 units will be reserved for formerly homeless families, and the remainder for households at or below 60 percent area median income (AMI).
The affordable housing lottery has launched for 9-24 Main Avenue, a six-story mixed-use building in Astoria, Queens. Designed by Gerald Caliendo Architect and developed by Ravi Patel, the structure yields 14 residences. Available on NYC Housing Connect are ten units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $77,143 to $187,330. All new leases also get one month free rent.
Permits have been filed for an 11-story residential building at 2324 Second Avenue in East Harlem, Manhattan. Located between East 119th and East 120th Streets, the lot is near the 116th Street subway station, serviced by the 6 train. Chicago-based Lakshmi Capital Management LLC is listed as the owner behind the applications.
Summer has come and gone, and as New Yorkers roll back their clocks, YIMBY rolls out our latest quarterly report that analyzes in detail the trends behind three months’ worth of construction permit filings. In the period from July through September of 2022, the Department of Buildings registered a total of 769 new construction filings throughout New York City, which promise to add 7,217 units to the city’s residential and hotel stock. The permit numbers maintain the robust filing volume we have observed so far throughout the year, as even the quarter’s least-active months continue to far outpace the figures from last year.
Developers, New York City officials, and community leaders recently joined to celebrate the grand opening of 425 Grand Concourse, a 26-story affordable housing property in Mott Haven, The Bronx. Designed by Dattner Architects and developed by Trinity Financial and local non-profit group MBD Community Housing Corporation, the 300,000-square-foot structure will yield 277 affordable apartments, an educational facility, a health clinic, a supermarket, and a community cultural space.