Construction has officially kicked off at 15 Monteith Street, a new affordable housing complex in Bushwick, Brooklyn. Located within the sprawling Rheingold Brewery redevelopment zone, the project will debut as Rheingold Senior Residences and create 94 apartments for low-income seniors.
Tishman Speyer has purchased the vast majority of Edgemere Commons, a forthcoming affordable housing complex in Edgemere, Queens. The development site is located on the former Peninsula Hospital complex in the Rockaways, which comprises 9.34 acres.
Permits have been filed for a seven-story mixed-use building at 35-10 Union Street in Flushing, Queens. Located between Northern Boulevard and 35th Avenue, the lot is closest to the Main Street subway station, serviced by the 7 train. Wy Holding is listed as the owner behind the applications.
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.
