● BLUE SEA DEVELOPMENT LLC
Harlem homes get new lease on life
Governor Andrew M. Cuomo announced the preservation of Philip’s Senior House, a 14-story Mitchell Lama building with 200 units in Central Harlem.
As part of its rehabilitation and modernization, Philip’s Senior House will also remain affordable for low- and moderate-income seniors for forty years.
“Upgrading Mitchell-Lama developments like the Philip’s Senior House is a central part of our strategy to provide better affordable housing options to New Yorkers,” Governor Cuomo said.
“By completely restoring this building, we have provided a more vibrant and welcoming place for hundreds of senior citizens. This ambitious project has been further supplemented by our $1 billion House New York program – the state’s largest investment in affordable housing in more than a decade – allowing us to create more vibrant communities across the state.”
Before the renovation, the Philip’s Senior House complex at 220 West 133rd Street sat nearly 50 percent vacant, having suffered years of severe deferred maintenance.
In 2012, New York State Homes and Community Renewal (HCR) provided more than $22.6 million in tax exempt bonds, $1.8 million in subsidy and $1.19 million in an annual allocation of low-income housing tax credits for the Philip’s Senior House refinancing and revitalization, allowing for all units in the complex to be upgraded.
The New York State Energy Research and Development Authority (NYSERDA) provided $124,500 in energy efficient incentives. Total development costs for the renovation were $38.9 million. The project was completed by Blue Sea Development, LLC.
$350M logistics center moving forward
McGowan Builders Inc. recently retrofitted a historic building at 851 West 40 Street in Miami Beach to serve as a TD Bank branch.
McGowan modernized the 40-year-old building to LEED-Certified status. Operating at this location is part of TD Bank’s plan for a larger presence in Miami Beach.
Mc owan Builders overcame several challenges inherent to working with historic buildings.
Without disturbing the building’s outer shell, the builder installed a new roof, waterproofing, underground utilities and mechanical systems, interior finishes and impact windows.
In addition to amending the building to meet strict modern building codes, McGowan’s work was awarded LEED Certification by the U.S. Green Building Council.
McGowan also installed mosaic tile, a canopy and a new stucco façade.
This project is the firm’s second for TD Bank in the region — earlier this year, the company built the first 2,900 s/f TD Bank branch in South Florida, which was also awarded with LEED status.
Builder braced to start rental community
Ingerman has closed on a 2.6-acre parcel in Wood-Ridge, Bergen County, with plans to build 104 affordable rental apartments.
The new affordable housing community will be developed as part of Wesmont Station, the award-winning, 70-acre mixed-use neighborhood conceived by master developer, Somerset Development.
The three new affordable apartment buildings will be located adjacent to the new NJ TRANSIT train station currently under construction at Wesmont Station.
The train station, which serves as the cornerstone of the Wesmont Station neighborhood, is being developed by Somerset Development in partnership with NJ TRANSIT, and will provide residents with direct access to Midtown Manhattan via a 25-minute commute.
The new Ingerman development at Wesmont Station marks another step in the effort by regional developers to transform underutilized industrial areas into pedestrian-focused and socio-economically diverse neighborhoods.
Ingerman has started to prepare the site for vertical construction, which is planned to commence during the fall.
The company will begin accepting applications from prospective residents for the new apartments early next year, with move-ins scheduled to begin in 2015.
The apartment buildings will be developed to meet Energy Star Homes and New Jersey Housing and Mortgage Finance Agency (NJHMFA) Green Building standards for energy efficiency.
Scheduled to open in 2015, the new Wesmont train station will connect with NJ TRANSIT’s Main-Bergen County Line to Manhattan.
The first phase of the Wesmont Station development comprises a 406-unit luxury rental apartment community, Avalon at Wesmont Station, developed by AvalonBay Communities. The Avalon complex also features 27,000 s/f of retail.
Additionally, Pulte Homes is currently under construction on a new community of 217 luxury for-sale townhomes — Liberty Square at Wesmont Station. Future development phases of Wesmont Station will include the construction of single-family homes and live/work townhomes.
● avr realty co.
Assistance sought for Meadows project
Brookhaven Town Supervisor Edward P. Romaine and Brookhaven Industrial Development Agency Chairman Frederick C. Braun, III announced that the Brookhaven IDA has accepted an application seeking economic assistance for a proposed mixed-use community in Yaphank.
The application, from Yonkers-based AVR Realty Co., seeks assistance for construction of Phase 1 of the Meadows at Yaphank, a $231 million, mixed-use, master planned sustainable community with 850 housing units, a 220-room hotel and 327,000 s/f of retail space.
It will be located on 322 acres at the northwest corner of the Long Island Expressway. The 10-year-long overall project would result in the creation of 811 full-time-equivalent construction.
AVR’s application is subject to a future public hearing and final approval by the IDA.