Merchants Capital has provided $104 million in construction financing for a major rehabilitation project at Harlem River Houses and the adjacent Harlem River II Campus, collectively known as Harlem River Houses I and II. The New York City Housing Authority (NYCHA) public housing complex sits between 151st and 153rd Street, Macombs Place, and Harlem River Drive in Harlem.
Construction is now underway at 515 Blake Avenue, a large parcel of land in East New York that will eventually support 255 affordable housing units. The HELP ONE project will yield a mix of supportive housing and low-income apartments, and is among Brooklyn’s largest affordable housing projects announced this year.
The affordable housing lottery has launched for Cyrus Place Apartments, an eight-story mixed-use building at 4697 3rd Avenue in Fordham, The Bronx. Designed by Curtis + Ginsberg Architects and developed by Bronx Pro Group, the structure yields 53 residences and ground-floor commercial space. Available on NYC Housing Connect are 44 units for residents at 30 to 80 percent of the area median income (AMI), ranging in eligible income from $16,560 to $118,400.
The New York City Housing Authority is working in partnership with Douglaston Development, L+M Development Partners, Dantes Partners, and SMJ Development to complete major renovations at the Linden and Penn-Wortman Houses in East New York, Brooklyn. Together, the public houses comprise 1,922 units.
Construction is expected to begin in January on Melrose North, a residential development that will bring 171 units of supportive and affordable housing to 925 Courtlandt Avenue in South Bronx’s Morrisania neighborhood. In a partnership between developer Bronx Pro Group and the New York City Housing Authority (NYCHA), the $92 million project will be built on a vacant NYCHA waste facility site.
