The New York City Housing Authority and its partners have reached a significant milestone by closing on a $635.6 million PACT project aimed at renovating 87 buildings in East Brooklyn. This comprehensive initiative will benefit nearly 3,500 residents, providing them with upgraded apartments, public spaces, grounds, and building infrastructure.
Developers and city officials gathered at 117 West 79th Street to celebrate the opening of Park 79, a new affordable housing project for seniors on Manhattan’s Upper West Side. The building contains 77 apartments, on-site supportive and social services, and a collection of indoor and outdoor amenity spaces.
The affordable housing lottery has launched for Park 79, a seven-story senior housing building at 117 West 79th Street on the Upper West Side of Manhattan. Designed by CTA Architects and developed by Fairstead in partnership with Project FIND, the structure yields 77 residences. Available on NYC Housing Connect are 53 units for residents at 40 to 50 percent of the area median income (AMI), ranging in eligible income from $0 to $53,400.
Fairstead and LIHC Investment Group have announced plans for a six-story mixed-use development at 127 Orchard Street in Newark, New Jersey. Part of Essex Plaza, a 13-building residential complex, the new structure will replace a surface-level parking lot and yield 365,000 square feet with 241 units. Forty percent of these will be set aside as affordable units for households and individuals at 60 percent area median income (AMI). In practice, that equates an annual income of $64,400 for a four-person household.
Fairstead and LIHC are working in partnership to complete major upgrades and facility improvements across 13 affordable housing buildings in Newark, New Jersey. Referred to as the Essex Plaza portfolio, the collection of buildings comprises 691 affordable apartments, many of which are reserved for senior households.
