The affordable housing lottery has launched for 815 Kings Highway, a 19-story mixed-use building in Gravesend, Brooklyn. Developed by Yelena Maksumov and designed by Vikatos Architect PC, the structure yields 24 residences. Available on NYC Housing Connect are five units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $143,829 to $238,160.
St. Nicks Alliance has closed on financing for the redevelopment of three Brooklyn properties yielding 44 affordable homes in East Williamsburg and Bushwick. The $26 million project encompasses two adjoining 16-unit buildings at 984-988 Greene Avenue and six-unit properties at 315 Harman Street and 19 Kingsland Avenue. The development is backed by a $2.26 million construction and permanent loan from LISC NY, which will cover hard costs associated with the redevelopment, along with soft costs and financing costs.
The affordable housing lottery has launched for 664-672 Beck Street, a five-story residential building built in 1925 in Longwood, The Bronx. Owned by Mhany Management, the structure was recently renovated and yields 42 residences. Available on NYC Housing Connect are four newly constructed units for residents at 40 to 77 percent of the area median income (AMI), ranging in eligible income from $0 to $162,008.
The affordable housing lottery has launched for 2229–2259 Dix Avenue Apartments, five four-story residential buildings in Far Rockaway, Queens. Developed in 1998 by Dix-McBride LLP headed by George Fakiris, the structures yield 130 residences. Available on NYC Housing Connect are 62 units for residents at 40 to 60 percent of the area median income (AMI), ranging in eligible income from $41,760 to $126,240.
The City Planning Commission has approved The Frances, a 21-story mixed-use residential building at 100-12 Queens Boulevard in Forest Hills, Queens. Designed by Fogarty Finger and developed by Benenson Capital Partners, the nearly 280,000-square-foot structure will yield 390 rental units, with 100 designated as affordable housing. The project will also include roughly 16,200 square feet of retail and will introduce upgrades to the surrounding infrastructure. The 26,000-square-foot property is bounded by 67th Avenue and 67th Road and features 260 feet of frontage along Queens Boulevard.
