Real Estate Weekly
Image default
Construction & Design Featured

Apartments rise on Brooklyn church site

Work is underway to build a 67-unit affordable apartment building on the former site of True Holy Church in Ocean Hill, Brooklyn.

The development will also create a new home for the church.

The City Planning Commission lasy year approved a rezoning application by developer Atlantic East Affiliates, an affiliate of the Ridgewood Bushwick Senior Citizens Council, to rezone 1860 Eastern Parkway to make way for the new 10-story building with ground floor community facility space.

The building will be named in honor of Harry T. Nance, True Holy Church’s Pastor Emeritus who served from 1978 to 2006. True Holy Church will maintain ownership of the land. A new 4,913 s/f church sanctuary will be located on the ground floor of the new building, along with a 1,672 s/f community facility space. The lower level will contain another 4,802 of community space for church use.

The residential portion of the building will be owned and managed by RiseBoro Community Partnership, a Bushwick-based non-profit community development organization.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “The Harry T. Nance Apartments is another example of the State’s investment in the future of Central Brooklyn. Today’s announcement celebrates the start of construction on 67 affordable apartments and a new home for a critical neighborhood institution, the True Holy Church.

“Thanks to our partnership with RiseBoro, HPD and the True Holy Church, this development will ensure that Central Brooklyn’s neighborhoods continue to grow stronger and prosper. We look forward to welcoming residents to their new home.”

Apartments will be affordable to extremely low-, very low-, and low-income households with income limits set at $21,930 for an individual and up to $75,120 for a household of three.

The project also participated in the city’s Mandatory Inclusionary Housing program through Option 1. As a result, 25 of the 67 apartments will be permanently affordable. An additional 17 apartments will be permanently affordable through HPD financing.

All other apartments will be subject to a 60 year affordability agreement with renewal expectations. The development will also include housing for formerly homeless veterans.

The 10-story building will be designed to meet Passive House standards, a technique that uses extreme insulation, air-tightness, and energy recovery ventilation to dramatically reduce energy consumption.

The building will also provide superior air quality and noise attenuation, and lower utility costs to residents.

The total development cost of the project is approximately $35.7 million. Financing includes $10.5 million in City Capital from HPD, and $2 million Reso A funds from New York City Council Member Rafael L. Espinal, Jr. of Brooklyn District 37. HCR provided $2.2 million in Housing Trust Fund (HTF) financing.

Construction commences in Fall 2018 and the building is scheduled to be completed in Fall 2020.

(Visited 1 times, 1 visits today)

Related posts

Italian chocolate masters lease NYC basecamp for US retail expansion

REW

Chicago brokerage expands into NYC with big-name hire

REW

Douglaston completes build-out for urgent care center at Crossroads Plaza

REW