Affordable housing

Rendering of Innovative Urban Village, via Gotham Organization

Innovative Urban Village Receives $270 Million In Construction Financing In East New York, Brooklyn

7:30 am on April 10, 2024 By Max Gillespie

Gotham Organization, in collaboration with Monadnock Development, the Christian Cultural Center, and New York City and State authorities, has secured $270 million in construction financing for the first phase of the Innovative Urban Village in East New York, Brooklyn. The project, which was designed by PAU, aims to transform 10.5-acre site currently owned by the Christian Cultural Center into a mixed-use urban village.

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Housing Lottery Launches for Fabric Astoria at 22-51 45th Street in Astoria, Queens

7:00 am on April 10, 2024 By Vanessa Londono

The affordable housing lottery has launched for 22-51 45th Street, one of two eight-story buildings in the Fabric Astoria residential complex in Astoria, Queens. Designed by Dattner Architects and developed by Mega Development, the structure yields 64 residences. Available on NYC Housing Connect are 20 units for residents at 80 to 130 percent of the area median income (AMI), ranging in eligible income from $62,983 to $146,900.

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270 West 96th Street courtesy of Fetner Properties

266 West 96th Street Finishes Construction on Manhattan’s Upper West Side

8:00 am on April 8, 2024 By Michael Young and Matt Pruznick

Construction is wrapping up on 266 West 96th Street, a 23-story residential building on Manhattan’s Upper West Side. Designed by SLCE Architects and developed by Fetner Properties, the 235-foot-tall structure yields 171 rental units with 68 dedicated to affordable housing, as well as 8,961 square feet of community facility space. Urban Atelier Group is the general contractor for the property, which is located on an interior lot between West End Avenue and Broadway.

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Housing Lottery Launches for 714 East 217th Street in Williamsbridge, The Bronx

6:30 am on April 8, 2024 By Vanessa Londono

The affordable housing lottery has launched for 714 East 217th Street, a four-story residential building in Williamsbridge, The Bronx. Designed by Baobab Architects and developed by Shaya Seidenfield, the structure yields 17 residences. Available on NYC Housing Connect are 16 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $72,000 to $167,570.

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Photograph from 'City of Yes' affordable housing announcement, via nyc.gov

Mayor Adams Announces Proposal To Lift Floor-To-Area Ratio For New Developments

7:00 am on April 7, 2024 By Max Gillespie

Mayor Eric Adams has announced a new initiative within the “City of Yes for Housing Opportunity” proposal that seeks to generate tens of thousands of affordable homes in New York City. The new initiative is targeting areas previously out of reach for many working-class New Yorkers due to an outdated floor-to-area-ratio cap, which historically has restricted the construction of new homes in high-demand zones. The proposal is seeking to lift the floor-to-area-ratio cap in these areas, such as in Midtown, Manhattan.

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