L+M Development Partners has closed on $179 million in financing that will support the construction of three new buildings within the Marcus Garvey Extension Project. Located in Brownsville, Brooklyn, the buildings will establish 348 affordable and supportive housing units and approximately 13,400 square feet of commercial and community facility space.
Queens-based developer Like Minded People has released renderings for a recently approved eight-story residential development in Brownsville, Brooklyn. Frank J. Quatela Architect was commissioned to design the new building at 1663 East New York Avenue, which will eventually comprise 42 affordable housing units.
Construction has started on Park Haven Apartments, a new mixed-income apartment complex in Mott Haven, The Bronx. Located at the corner of East 142nd Street and St. Ann’s Avenue, the ten-story building includes 178 residential units, a ground-level grocery store, and community facilities.
Construction has topped out on Victory Plaza, a new mixed-income affordable housing block at 11 West 118th Street in Harlem. Designed by Aufgang Architects for developers Camber Property Group and Harlem Congregations, the nine-story building will eventually contain 136 rental units including a total of 41 apartments reserved for formerly homeless seniors.
Merchants Capital recently secured funding to redevelop a historic hospital structure in Jamaica, Queens into low-income and supportive housing. The announced funding package amounts to $21 million in the form of a Freddie Mac unfunded forward Low-Income Housing Tax Credit (LIHTC) cash loan on behalf of private affordable housing developer Dunn Development Corp.