L+M Development Partners, Type A Projects, and MSquared recently closed on $42 million in construction financing to complete a 78-unit affordable housing project in Newark, New Jersey. The property will occupy a portion of an existing residential complex at 250 Georgia King Village in the city’s Fairmount neighborhood.
The affordable housing lottery has launched for The Clark, an eight-story residential building at 310 Clarkson Avenue in Prospect Lefferts Gardens, Brooklyn. Designed by Jonathan Kirschenfeld Architect and developed by Hudson Companies, the structure yields 170 residences. Available on NYC Housing Connect are seven units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $52,286 to $192,400.
Affordable studios and one-bedrooms at 810 Fulton Street are now available via the NYC Housing Connect lottery. The 12-story affordable housing development is located in Clinton Hill, Brooklyn and is alternately addressed as 475 Clermont Avenue.
Permits have been filed for a 15-story mixed-use building with affordable housing at 2005 Third Avenue in East Harlem, Manhattan. Located at the intersection of East 110th Street and Third Avenue, the corner lot is one block east of the 110th Street subway station on Lexington Avenue, serviced by the 6 train. Elie Fouerti is listed as the owner behind the applications.
Construction is now underway at 111 Willoughby Street, a 40-story residential tower in Downtown Brooklyn. Designed by GF55 Architects and developed by The Michaels Organization and joint-venture partners Triangle Equities and Geolo Capital, the 437-foot-tall building will yield 205,000 square feet and 227 rental homes.
