Affordable Housing


Rendering of Atlantic Chestnut 1 Phase

Phipps Houses Secures $217 Million Financing for Phase 1 of Atlantic Chestnut Development in East New York, Brooklyn

Non-profit housing developer Phipps Houses closed on $217 million in construction financing for the first phase of Atlantic Chestnut, a massive three-phase development in Brooklyn. When completed, Atlantic Chestnut will bring 1,200 affordable housing units to the East New York neighborhood under the 2016 East New York Rezoning. With Dattner Architects handling design, the Atlantic Chestnut development will consist of three mid-rise apartment buildings featuring affordable apartments, 60,000 square feet of commercial and community facility space, attended parking for 200 cars, and residential amenities comprising of a gym, children’s playroom, a lounge, a party room, and landscaped courtyards and roof deck. The project is being built by Monadnock Construction.

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26-02 4th Street in Astoria, Queens

Affordable Housing Lottery Launches for 26-02 4th Street in Astoria, Queens

The affordable housing lottery has launched for 26-02 4th Street, a seven-story mixed-use residential building in Astoria, Queens. Designed by Gerald Caliendo Architects, the structure will yield 53,438 square feet and 46 units. Available on NYC Housing Connect are 14 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $49,715 to $192,400.

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Canton Flats in Flatbush, Brooklyn. All images courtesy of NYC Housing Connect

Affordable Housing Lottery Launches for 254 Units at Caton Flats in Flatbush, Brooklyn

The affordable housing lottery has launched for Caton Flats, a 14-story mixed-use residential building at 800 Flatbush Avenue in Flatbush, Brooklyn. Designed by Magnusson Architecture And Planning and developed through a partnership between BRP Companies, Housing Preservation and Development, the Housing Development Corporation, and the Caribbean-American Chamber of Commerce and Industry, the structure will also yield 5,000 square feet of supplemental community space owned and operated by the Caribbean American Chamber of Commerce and Industry and 10,000 square feet of local retail. Available on NYC Housing Connect are 254 units for residents at 40 to 165 percent of the area median income (AMI), ranging in eligible income from $21,635 to $244,200.

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