Case study : The Robeson
The Robeson is an M/WBE mixed income project by Lemor Development Group LLC. The project consists of a 79-unit new construction multifamily affordable housing development on two privately-owned vacant parcels and 3 city owned parcels in Harlem. One of the vacant parcels was previously owned by the Downtown Baptist Church, Inc. (the “Church”) which was sold to Lemor Development Group LLC in return for a newly constructed Church condominium unit in the new building. Additionally, the project consist of 1 commercial space and 1 community facility space. The building consists of 10 stories and approximately 99,273 square feet of mixed use space. The residential units for the building will be comprised of 16 studio units, 25 one-bedroom units, 31 two-bedroom units, and 6 three-bedroom units. The rentable unit Area Median Income (“AMI”), adjusted for family size, is as follows: 16 units < 47% AMI, 24 units < 80% AMI and 38 units < 130% AMI for the New York, NY Metropolitan Statistical Area.
As counsel to Lemor Development Group LLC, Goldstein Hall successfully negotiated and crafted a church development agreement with the Church and Lemor Development Group LLC. Additionally, Goldstein Hall successfully shepherd the project through an acquisition closing and a construction loan closing consisting of approximately $45,000,000 in private and public financing. The uniqueness of this deal is the balance of building a Church within an affordable housing project. The Robeson is a perfect example of a developer partnering with a church to create affordable housing while simultaneously meeting the church’s needs of a new sanctuary space.