Merchants Capital recently secured funding to redevelop a historic hospital structure in Jamaica, Queens into low-income and supportive housing. The announced funding package amounts to $21 million in the form of a Freddie Mac unfunded forward Low-Income Housing Tax Credit (LIHTC) cash loan on behalf of private affordable housing developer Dunn Development Corp.
Installation of the glass and brick curtain wall of 460 Main Street, aka Riverwalk 8, is nearing completion on Roosevelt Island. The 21-story, 341-unit building is designed by Handel Architects and is being developed as a joint venture between Related Companies and Hudson Companies. This will be the eighth component in the nine-building Riverwalk rental complex.
Buyers are now moving into a newly complete condominium building at 91 Leonard Street in TriBeCa, Manhattan. The structure was completed earlier this year by Toll Brothers City Living, the urban development division of Toll Brothers, Inc.
Construction is moving along on the topped-out residential structure at 500 West 25th Street in Chelsea. Most of the windows are installed, but a considerable amount of exterior work still remains to be completed before the scaffolding and black construction netting is ready to come down. GF55 Partners is the architect of record and GDS Development is developing the ten-story building, which is located next to the High Line at the corner of West 25th Street and Tenth Avenue.
Developers and city officials recently gathered at 405 Dumont Avenue to celebrate the commencement of construction on a new 100-percent affordable housing project. The development is known as Van Dyke III and is situated within the Van Dkye Houses campus in Brownsville, Brooklyn.
