Greenpoint‘s latest affordable housing property will soon take shape at 35 Commercial Street following the acquisition of $170 million in construction financing. The forthcoming property is located within the Greenpoint Landing mega-complex in north Brooklyn and will eventually introduce 374 affordable housing units to the neighborhood.
The New York City Council recently voted to approve rezoning as part of the Uniform Land Use Review Procedure (ULURP) process for 30-02 Newtown Avenue in Astoria, Queens. Originally zoned R7A, the property has since been up zoned to R8A with a 7.2 floor area ratio. Lynest Associates LLC is listed as the owner with Nexjen Real Estate as the representative in the ULURP process.
The Department of Housing Preservation and Development (HPD) is now in search of a development partner to accelerate Resilient Edgemere, a major initiative to reinvigorate the Edgemere section of the Rockaways. The primary objective of the plan is to advance development of mixed-use, residential, and affordable housing properties in the community.
The affordable housing lottery has launched for 460 Seneca Avenue, a four-story residential building in Ridgewood, Queens. Designed by P. Georgopoulos Architect, the structure yields 4,982 square feet. Available on NYC Housing Connect are three units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $76,972 to $139,620.
SMA Equities recently secured a $56 million financing package to complete a new 20-story mixed-use building in Kips Bay, Manhattan. The project is located at 202 East 23rd Street and will eventually yield a mix of income-restricted and market-rate apartments and around 2,400 square feet of lower-level retail.
