A new affordable housing development has broken ground at 201-207 7th Avenue in Chelsea, Manhattan. The nine-story, affordable cooperative building will replace four aging properties at the corner of 22nd street, which are only partially occupied by five residents.
Designed by Amie Gross Architects, the new development will comprise 26 co-ops ranging from studios up to three-bedroom units. A retail suite occupies roughly 3,500 feet of the building’s ground floor.
The structure’s look and feel are inspired by the detailed façades, stonework, and brick masonry found in the historic mercantile and residential buildings in Chelsea. Renderings of the building reveal a similar mix of beige and brown masonry, a simple window system, and setbacks at the eighth for a communal terrace.
Additional amenities will include a shared courtyard, a laundry room, and a bike room.
“The building design is inspired by the community – by both its residents and architecture,” said president of Amie Gross Architects, Amie Gross. This project embodies the commitment of Amie Gross Architects to sustainable and affordable structures that are made to last.”
Construction was financed through New York City Department of Housing Preservation and Development’s (HPD) Affordable Neighborhood Cooperative Program (ANCP), which selects qualified developers to rehabilitate or redevelop distressed city-owned multifamily buildings in order to create rare affordable homeownership opportunities in New York City.
“This administration is committed to helping long-time New Yorkers own a piece of their neighborhoods and ensuring that those homes remain affordable far into the future,” said HPD commissioner Adolfo Carrión Jr. “Through our Affordable Neighborhood Cooperative Program, we’re thrilled to provide deeply affordable homeownership opportunities to both new and existing residents in Chelsea.”
The five existing residents have been temporarily relocated and are currently attending co-op homeownership training. When construction is complete, these people will have the option to purchase their co-op for $2,500, or as low as $250 if their income qualifies. The remaining units will be limited to purchasers earning up to 130 percent AMI.