Brooklyn
Old Precinct Condominium
Client
North Brooklyn Development Corp.
Funding Sources
NYC Department of Housing Preservation and Development, City Councilwoman Diana Reyna, Brooklyn Borough President Marty Markowitz, New York City Housing Partnership
Description
43 Herbert Street is a landmark police precinct complex, consisting of a three-story station house and a stable wing to the east, connected by a one-story passageway. Developed by North Brooklyn Development Corporation (NBDC), this building has been converted to 14 condominium units varying from one to three bedrooms. As a Landmark and SHPO (State Office of Parks and Historic Preservation) project, every exterior and some of the interior details are preserved and carefully replicated. The Station House envelope accommodates four apartments per floor, twelve units in total. The ground floor units are duplex apartments with recreation rooms in the cellar. The second and third floor apartments are flats. The carriage house houses two apartments and is accessed via the link between the two structures.
The Hawthorne Condominium
Client
Pratt Area Community Council, Inc. (PACC)
Funding Sources
A unique financing structure utilizing a HUD grant, a Local Initiatives Support Corporation (LISC) acquisition/construction mortgage, a Reso-A grant and an Affordable Housing Corporation grant.
Description
PACC renovated a historic brownstone mansion on Classon Avenue between Quincy Street and Gates Avenue
to create twelve affordable condominium units for moderate-income residents. This renovation is part of PACC’s larger effort to create affordable homeownership opportunities in the Clinton Hill and Bedford-Stuyvesant neighborhoods of Brooklyn.
River Rock
Client
Guytech Management Services, Inc.
Funding Sources
NYC Housing Development Corporation LAMP Program, NYC Dept. of Housing Preservation and Development MIRP Program, Banco Popular Letter of Credit and Commercial Loan, Enterprise Community Partners 4% tax credit equity, Brooklyn Borough President assistance.
Description
Completed in August 2010, this 49,957 square foot building contains 16 one-bedroom units and 37 two-bedroom units, all of which will be occupied by persons whose incomes are 60% or below the Area Median Income (approximately $46,100 for a household of four). Eleven of these units will be set aside for homeless families. The development includes approximately 12,000 square feet of ground-floor retail space and 3,800 square feet of community space on the second floor. The community space will be occupied by the Sabaoth Group, Inc, a local community-based, non-profit service provider that will be available to offer assistance to the special needs tenants as well as the entire community.
The Gates Cooperative
Client
Pratt Area Community Council, Inc.
Funding Sources
NYC Department of Housing Preservation and Development, Housing Development Corporation and New York State Affordable Housing Corporation.
Description
Developed under the NYC Dept. of Housing Preservation and Development Cornerstone program, this 34-unit affordable cooperative is located on Gates Avenue between Tompkins Avenue and Throop Avenue in the Bedford-Stuyvesant neighborhood of Brooklyn. The Gates has been constructed using many Green Design features, which will reduce energy usage and result in energy cost savings for homeowners.