Construction is rising rapidly on The Nova, a 24-story residential project at 41-05 29th Street in Long Island City, Queens. Designed by Fogarty Finger and developed by SB Development Group, the 290-foot-tall structure will yield 86 homes and ground-floor retail space on a triangular plot at the confluence of 29th Street and 41st Avenue. The developers recently secured a construction loan from SCALE Lending worth $55 million to complete the project.
The Department of City Planning is reviewing proposals to construct a 4.65-acre mixed-use affordable housing development near the Metro-North Station in Wakefield, The Bronx. If approved, the six-building complex would create approximately 1,200 income-restricted apartments, 28,000 square feet of retail space, 87,000 square feet of community facilities, 130,000 square feet of publicly accessible open space, and 600 parking spaces.
The affordable housing lottery has launched for The Posh, a seven-story residential building at 1941 Coney Island Avenue in Midwood, Brooklyn. Designed by Fischer + Makooi Architect, the structure yields 51,240 square feet and 43 residences. Available on NYC Housing Connect are 13 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $63,429 to $167,570.
Breaking Ground and the African American Planning Commission Inc. recently celebrated the opening of their co-developed residential property at 7 Livonia Avenue in Brownsville, Brooklyn. Known as Edwin’s Place, the property comprises 125 units of affordable and supportive housing in addition to new community space and ground-floor retail.
Demo permits have been filed for 14 Fifth Avenue in Manhattan’s Greenwich Village, the site of a planned 19-story residential tower designed by Robert A.M. Stern Architects and Hill West. Located between East 8th Street and East 9th Street with 52 feet of frontage along Fifth Avenue, the property is currently occupied by a four-story residential building with 20 units. Madison Realty Capital is listed as the owner behind the application, after purchasing the 5,255-square-foot site for $27.5 million in 2015.