Debevoise Senior Housing, a 100 percent affordable housing property for senior residents, opened this week in Williamsburg, Brooklyn. The new property is located at 40 Debevoise Street and was developed in partnership by The Arker Companies, New York City’s Department of Housing Preservation and Development (HPD), and the Jewish Association Serving the Aging (JASA).
The closing of construction financing was announced for a new 47-story mixed-use residential development at 550 Tenth Avenue in Hell’s Kitchen. The project is developed by Gotham Organization and Goldman Sachs Asset Management JV in a joint venture equity partnership, with Wells Fargo and US Bank providing a $212 million construction loan, and Lionheart Strategic Management providing $35 million in mezzanine financing.
The affordable housing lottery has launched for Plank Road Apartments, a 27-story residential building at 662 Pacific Street in the Pacific Park mega-development in Prospect Heights, Brooklyn. Designed by Marvel Architects and developed by The Brodsky Organization, the structure yields 312 residences. Available on NYC Housing Connect are 94 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $53,040 to $167,570.
Permits have been filed for a five-story mixed-use building with mixed-income housing at 975 Nostrand Avenue in Crown Heights, Brooklyn. Located between Empire Boulevard and Montgomery Street, the lot is two blocks from the Sterling Street subway station, serviced by the 2 and 5 trains. Sally Gilliland of Cadman Associates LLC is listed as the owner behind the applications. Earlier this year Hudson Companies purchased the site from Midwood Investment & Development for $41.5 million.
Construction is now complete at Park Avenue Apartments, a mixed-income affordable housing property in Claremont, The Bronx. Located at 3500 Park Avenue, the seven-story building comprises 115 units of affordable housing, including 69 units with supportive services funded through the Empire State Supportive Housing Initiative.
