Construction is now underway at 88 Throop Avenue, the first of five affordable housing developments planned for the Broadway Triangle neighborhood in Brooklyn. Located at the convergence of Williamsburg, Bushwick, and Bedford-Stuyvesant, the 140-unit property will debut as Throop Corners.
JLL Capital Markets has arranged a $142 million construction loan to finance the completion of Majestic, a 12-story mixed-use building at 540 DeGraw Street in Gowanus, Brooklyn. Designed by Handel Architects and developed by Domain Companies, the Urban Investment Group within Goldman Sachs Asset Management, Vorea Group and Mega Development, the building will yield 18,000 square feet of commercial space and 255 rental units. A total 25 percent of the units will be designated for affordable housing. Future Green Studio is the landscape designer for the property, which is located between Nevins Street and 3rd Avenue.
The affordable housing lottery has launched for Linden Terrace II, an eight-story mixed-use building at 573 Emerald Street in East New York, Brooklyn. Designed by Magnusson Architecture and Planning and developed by Radson Development, the structure yields 160 residences. Available on NYC Housing Connect are 129 units for residents at 30 to 70 percent of the area median income (AMI), ranging in eligible income from $16,183 to $115,850.
Mill Brook Terrace, a new affordable housing development for seniors, has opened for occupancy at 570 East 137th Street in the Mott Haven section of The Bronx. Developed by West Side Federation for Senior and Supportive Housing and New York City Housing Authority (NYCHA), the project is a result of NYCHA’s NextGeneration Request for Proposals (RFP), a community visioning process that identified the need for additional senior housing and services in the neighborhood. West Side Federation for Senior and Supportive Housing was awarded the site in 2016 and construction was completed in December 2019. By October 2020, the property was fully leased.
The affordable housing lottery has launched for Astoria West Phase 2, two parts of a 522,000-square-foot complex comprised of a trio of interconnected structures at 11-12 30th Drive and 11-28 30th Drive in Astoria, Queens. Designed by Fogarty Finger Architects and developed by Cape Advisors, the structures yield 534 apartments and an extensive amenity package. Available on NYC Housing Connect are 126 affordable housing units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $80,572 to $187,330.
