Manhattan
All Saints Housing Development
Client
SFDS Communiuty Development Corporation
Funding Sources
Enterprise Community Partners, Inc., NYC Housing Development Corporation (HDC), NYC Department of Housing Preservation and Development (HPD), JPMorgan Chase
Description
All Saints Housing is a new 99-unit, three-building development in East Harlem. All 99-units in the buildings are designated for low-income residents, including 20 apartments for formerly homeless families and individuals. The completion of the three All Saints buildings marks the revitalization of an East Harlem block located on 131st Street between Madison Avenue and Park Avenue that was once heavily populated by vacant lots and unstable buildings. The All Saints project is also part of the New York State Energy Research and Development Authority (NYSERDA) called the Energy Star Multifamily Pilot. As part of the pilot, Lott Community Development Corp worked with energy consultants to develop and design systems that help the buildings achieve maximum energy efficiency.
Muscoota Project
Client
HOPE Community
Funding Sources
NYC Department of Housing Preservation & Development, TD Bank, Local Initiatives Support Corporation, Manhattan Borough President Scott Stringer
Description
The Muscoota project is Hope Community’s oldest development and forms a small, but important part of East Harlem’s history and renaissance. For the 63 households that make up the Muscoota project, no governmental financing — with the exception of a few Section 8 — has been used in the development or operation of the buildings for the past 40 years. As a result, the five buildings are now in great need of renovation and major repair. Today, 44% of the residents of the project earn less than 60% of area median income (AMI). Another 19% earn between 60% and 80% of AMI.
Logan Gardens
Client
Community Assisted Tenant Controlled Housing, Inc. (CATCH)
Funding Sources
HDC first mortgage funded through proceeds from the sale of tax-exempt bonds with a second mortgage through HPD 8A and as of right “4%” Federal Low-Income Housing Tax Credits.
Description
The former distressed apartment building, located at the corner of Convent Avenue and131st Street in Harlem, has been rehabilitated by CATCH into a thriving home for 102 senior and disabled residents. The building once housed Knickerbocker Hospital and is named in honor of Dr. Arthur C. Logan, a leading civil rights activist and prominent surgeon.
Friendly Hands Apartments
Client
The Alembic Development Company
Funding Sources
Project financing sources include NYC Housing Development Corporation LAMP, the Department of Housing Preservation and Development’s Mixed-Income Rental Program (MIRP) and Low Income Housing Tax Credits.
Description
Friendly Hands Apartments, located inEast Harlem, is a 76-unit affordable housing development that includes 3,700 square feet of community space. Units target low-income families earning less than 60% of area median income.