Affordable housing

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$335 Million in Financing Secured for Second Phase of La Central Development, South Bronx

The team behind the La Central Development has closed a deal for financing towards the construction of their massive mixed-use project in the Melrose Community of the South Bronx. This is one of the largest mixed-income projects currently under construction in New York City. Once complete, the project will span 1.1 million square feet, with five buildings and 992 units entirely devoted to affordable housing.

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Lenox Terrace Redevelopment

Expanded Plans Adding 1,642 New Units to Lenox Terrace Revealed in Harlem

Yesterday, YIMBY brought you news of the stabilization of the city’s new development pipeline through the end of 2017. Echoing the end-of-year positivity, 2018 has already brought one major new development to light, on Surf Avenue in Coney Island. Today, we have the latest on an even larger project coming to Harlem, with the reveal for the first rendering of the massive expansion proposed for Lenox Terrace, which would eventually yield over 1,600 new apartments by the time of full build-out.

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Central Park's rolling 15-year median snowfall

Why New York City’s Rapidly Rising Snowfall Totals Are No Holiday Miracle

When “White Christmas” was written in 1942, Irving Berlin had good reason to yearn for the snows “just like the ones [he] used to know.” Measurements of the white stuff in Manhattan had been slumping since the late 1800s, with the 15-year rolling median of 35.5 inches from 1884 falling to a mere 15.6 inches by the year of the song’s release, and then plunging further, to only 13.4 inches in 1998-99. What has followed is nothing short of a holiday miracle: in the subsequent eighteen years, snowfall has increased in an unprecedented fashion across much of the Northeastern seaboard, with the rolling median at Central Park now reaching 40 inches. With New York City’s median recent snowfalls tripling in a matter of two decades and surpassing totals at the end of the Little Ice Age at the same time that temperatures have continued to warm, it is time for the city’s inhabitants to ask why exactly this is happening, and consider the practical implications that a rapidly-shifting climate will have on real estate.

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1561 Walton Avenue, rendering courtesy Briarwood Organization

Construction Complete for 1561 Walton Avenue, Concourse, The Bronx

Construction has wrapped on an affordable housing project at 1561 Walton Avenue, in The Bronx’s Concourse neighborhood. The 11-story building was a joint development by the Briarwood Organization and the Settlement Housing Fund (SHF), to create 59 affordable apartments for people with an income of 40% to 90% relative to the Area Median Income. The building was designed with the goal of fostering community within open spaces. Briarwood is also responsible for general contracting, while SHF is responsible for development.

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