Affordable Housing | 6sqft https://www.6sqft.com NYC Real Estate news and information Thu, 16 Nov 2023 20:10:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.1 NYC’s first 100% affordable housing development with new public library opens in Sunset Park https://www.6sqft.com/nycs-first-100-affordable-housing-development-with-new-public-library-opens-in-sunset-park/ https://www.6sqft.com/nycs-first-100-affordable-housing-development-with-new-public-library-opens-in-sunset-park/#respond Thu, 16 Nov 2023 16:51:59 +0000 https://www.6sqft.com/?p=175398

The Brooklyn Public Library and Fifth Avenue Committee on Wednesday opened the Sunset Park Library and Apartments, a first-of-its-kind development with 100 percent affordable housing above a new state-of-the-art public library branch. The eight-story mixed-use building at 372 51st Street brings new affordable housing homes to Sunset Park for the first time in two decades. [...]

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The Brooklyn Public Library and Fifth Avenue Committee on Wednesday opened the Sunset Park Library and Apartments, a first-of-its-kind development with 100 percent affordable housing above a new state-of-the-art public library branch. The eight-story mixed-use building at 372 51st Street brings new affordable housing homes to Sunset Park for the first time in two decades. Officials say the project could establish a new model for co-located affordable housing developments in the city.

Designed by Mitchell Giurgola Architects, the building’s new library occupies the first two and a half levels of the building. The expanded branch spans over 20,000 square feet, roughly twice the size of the old Sunset Park branch. The new library features bright lighting, and an open, flexible layout with modern technological systems including an HVAC system.

The library, considered the BPL’s busiest branch, now features the largest dedicated space for teens of any library in the borough, a new recording studio, and a community program room that can be rented for community events during and outside of regular library hours.

“Sunset Park has always been one of our busiest libraries, and we’re thrilled to welcome the neighborhood back to a new space built on a foundation not only of concrete, but of community input, engagement and passion,” Linda Johnson, President and CEO of BPL, said.

“In addition to providing a large, inviting and functional library for visitors to enjoy our programs and collections, the building also provides urgently needed 100 percent affordable housing in Sunset Park — the first collaboration of its kind in the city. We are profoundly grateful to Fifth Avenue Committee for their invaluable partnership, to the State and City of New York, and to our elected officials and other key partners who helped make this project a reality.” 

Library patrons are welcomed by two large-scale murals created by Tatiana Arocha, featuring captivating scenes of nature that are as diverse and vibrant as Sunset Park itself. On display in the library’s vestibule is destellos naranjas en la copa de los árboles (glimpses of orange between the treetops), a portrait of an urban forest that depicts plants native to Brooklyn and animals from distant lands.

Arocha’s second artwork, Antes del amanecer (Before Dawn), is installed on the blue wall of the main reading room and features a large, mystical tree with two owls.

The affordable housing component is located on floors two through eight of the building; there are 49 permanently affordable units across about 50,000 square feet. The residences are a mix of studios, one-, two-, and three-bedrooms.

Apartments are reserved for low- and moderate-income residents earning between 30 percent and 80 percent of the area median income. There are additional apartments for Section 8 recipients and formerly homeless households.

A second-floor roof deck with roughly 2,000 square feet of outdoor space will host library programming and also be used for recreation. The laundry room is located adjacent to the roof deck and provides natural lighting and easy access to the outdoor space. The building also features energy-efficient kitchen appliances, high-end finishes, bicycle storage, high-speed internet, an on-site superintendent, Wi-Fi in common areas, and views of Lower Manhattan and the New York Harbor.

The project is the result of a unique collaboration between the library, FAC, New York State Homes and Community Renewal, and the city’s Department of Housing Preservation and Development.

The development of the library cost $17 million, approximately half of what it would cost to build a similarly-sized standalone library on its own. Funding was sourced from an NYSED State Grant, capital funds from BPL, and revenue from the sale of BPL’s Brooklyn Heights Library.

The Brooklyn Heights Library opened on the ground floor of the luxury condo One Clinton last year, becoming the second-largest library in the system.

“The opening of the new Sunset Park library has been long awaited by many in our community,” Council Member Alexa Avilés, who represents the neighborhood, said. “Libraries provide some of the most key bedrock services that city government has to offer and I’m grateful to BPL and Fifth Avenue Committee for their hard work. Coupling construction with some of the only truly affordable housing created in Sunset Park for many years has meant delivering on spaces our community both deserves and needs.”

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517-unit luxury development tops out along Gowanus Canal https://www.6sqft.com/517-unit-luxury-development-tops-out-gowanus-canal/ https://www.6sqft.com/517-unit-luxury-development-tops-out-gowanus-canal/#respond Fri, 10 Nov 2023 16:01:42 +0000 https://www.6sqft.com/?p=174809

A huge mixed-use development with over 500 apartments has topped out along the Gowanus Canal. The two-tower, 21-story project at 267 Bond Street and 510 Sackett Street measures over 600,000 square feet and includes 57,300 square feet of retail space and a new park and esplanade along the famously polluted waterfront. Developed by PMG and [...]

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A huge mixed-use development with over 500 apartments has topped out along the Gowanus Canal. The two-tower, 21-story project at 267 Bond Street and 510 Sackett Street measures over 600,000 square feet and includes 57,300 square feet of retail space and a new park and esplanade along the famously polluted waterfront. Developed by PMG and Carlyle, the development is part of the 2021 Gowanus rezoning effort, which will bring thousands of new homes to the Brooklyn neighborhood. The development, dubbed Society Brooklyn and Sackett Place, has a completion date of 2025.

Designed by SLCE Architects, the two buildings include 517 homes, 25 percent of which are designated as affordable through the city’s Mandatory Inclusionary Housing Program.

Spanning 371,000 square feet, Society Brooklyn will include 244 units, including a mixture of studios, one-, and two-bedroom residences, and 34,000 square feet of commercial space. Measuring 234,000 square feet, Sackett Place will contain 23,300 square feet of commercial space and include 173 one-, two-, and three-bedroom residences.

Amenities will include a wellness center, an outdoor swimming pool, a rooftop terrace with expansive skyline views, and easy access to an adjacent waterfront park and esplanade.

As part of the rezoning effort, a section of the development’s retail space called the “Gowanus Mix,” will showcase community-minded retail, experimental and maker studios, and local food and beverage vendors, all of whom will be dedicated to sustainability and environmental resiliency.

The topping-off comes shortly after the project received an additional $335 million in funding from Urban Atelier Group, which is the development’s construction manager.

“UAG is excited to take part in the continuous transformation of the Gowanus Canal, contributing to the revitalization of this historic area,” Andy D’Amico, President and CEO of UAG, said in an official press release.

“We are collaborating closely with key stakeholders to bring our shared vision for these developments to fruition. Ultimately, Gowanus is more than just a location; it symbolizes our dedication to bolstering citywide housing initiatives and urban regeneration.”

Approved by the City Council in November 2021, the Gowanus rezoning plan aims to create 8,500 new apartments throughout the Brooklyn neighborhood by 2031, more than one-third of which will be set aside for low- and moderate-income households.

In the two years since the rezoning passed, Gowanus has already seen a lot of change. As City Limits reported, roughly half of the expected 8,500 apartments are in the planning or construction stages.

The ambitious initiative will also tackle addressing the problems caused by the area’s infamous Gowanus Canal, which was designated in 2010 as a Superfund site and is currently being cleaned up by the Environmental Protection Agency after more than a century of toxic pollution. The EPA is working to remove 581,000 cubic yards of polluted sediment from the bottom of the canal and cap it to prevent further pollution.

To accommodate the influx of residents in the neighborhood and prevent further strain on the sewer system, the city in March broke ground on one of two new underground storage tanks that will prevent up to 12 million gallons of sewage overflow from entering the canal during flooding events and rainstorms.

The first tank, bounded by Nevins Street, Butler Street, and Degraw Street will hold up to eight million gallons of sewage waste and include 3.6 acres of public open space on the waterfront. The second tank, to be located at a bend in the canal at Second Avenue and Sixth Street, will be able to hold up to four million gallons of sewage overflow.

PMG purchased the site in 2021 for $9 million, according to The Real Deal. In June, private equity firm Carlyle paid PMG $100 million and joined as a co-developer for the project. The project must be completed by 2026 to receive a 421-a tax break.

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Coney Island rental a block from the beach opens lottery for 299 units, from $410/month https://www.6sqft.com/coney-island-rental-a-block-from-the-beach-opens-lottery-for-299-units-from-410/month/ https://www.6sqft.com/coney-island-rental-a-block-from-the-beach-opens-lottery-for-299-units-from-410/month/#comments Wed, 08 Nov 2023 17:39:59 +0000 https://www.6sqft.com/?p=174595

Applications are being accepted for 299 mixed-income units at a new 100 percent affordable development one block from the beach in Coney Island. The 10-story mixed-use building at 1607 Surf Avenue is the second phase of a development project from BFC Partners that includes 1,000 new affordable homes. New Yorkers earning 30, 50, 70, and [...]

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Applications are being accepted for 299 mixed-income units at a new 100 percent affordable development one block from the beach in Coney Island. The 10-story mixed-use building at 1607 Surf Avenue is the second phase of a development project from BFC Partners that includes 1,000 new affordable homes. New Yorkers earning 30, 50, 70, and 120 percent of the area median income, or between $17,006 for a single person and $210,120 for a household of seven, can apply for the apartments, priced from $410/month studios to $2,656/month three bedrooms.

Designed by S9 Architecture, the $189 million mixed-use building measures 361,000 square feet and contains 376 affordable rental units. A new primary care facility operated by NYC Health and Hospital Corporation is on the ground floor.

Residences include 94 studio apartments, 105 one-bedroom apartments, 150 two-bedroom apartments, and 26 three-bedroom apartments, with 57 of the units set aside for formerly homeless households. The apartments feature in-unit dishwashers and hardwood floors.

Amenities include a landscaped roof deck, fitness room, children’s play space, party room, a shared laundry room, and a tenant lounge. The property also has 61 above-ground parking spaces rentable by tenants. The building sits one block from the historic Coney Island beach and boardwalk.

The building is the second phase of BFC Partner’s three-phase Coney Island development. Phase one concluded with the opening of 2926 West 19th Street, a two-tower, 16-story project from L+M Development Partners Inc., BFC Partners, and Taconic Investment Partners. Work began on 1607 Surf Avenue last January. The final phase is planned for 1709 Surf Avenue with 464 affordable units.

The project is funded by the NYC Department of Housing Preservation and Development and the NYC Housing Development Corporation’s Extremely Low and Low-Income Affordability Program and Voluntary Inclusionary Housing Program, as 6sqft previously reported.

Nearby public transit options include the F and Q subway lines, as well as the B36, B74, and B82 buses.

Qualifying New Yorkers can apply for the apartments until January 5, 2024. Complete details on how to apply are available here. Preference for 50 percent of the units will be given to residents of Brooklyn Community District 13. Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.

If you don’t qualify for the housing lotteries mentioned, visit CityRealty.com’s no-fee rentals page for other apartment deals in the city.

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Lottery opens for 40 middle-income units near the park in Prospect Lefferts Gardens, from $2,350/month https://www.6sqft.com/lottery-opens-for-40-units-at-210-clarkson-in-prospect-lefferts-gardens/ https://www.6sqft.com/lottery-opens-for-40-units-at-210-clarkson-in-prospect-lefferts-gardens/#comments Wed, 01 Nov 2023 14:30:00 +0000 https://www.6sqft.com/?p=173920

A housing lottery opened this week for 40 middle-income units at a new residential development in Prospect Lefferts Gardens. Located at 210 Clarkson Avenue, the eight-story mixed-use rental building offers residents modern apartments with state-of-the-art amenities and easy access to Prospect Park. New Yorkers earning 130 percent of the area median income, or between $80,572 [...]

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A housing lottery opened this week for 40 middle-income units at a new residential development in Prospect Lefferts Gardens. Located at 210 Clarkson Avenue, the eight-story mixed-use rental building offers residents modern apartments with state-of-the-art amenities and easy access to Prospect Park. New Yorkers earning 130 percent of the area median income, or between $80,572 for a single person and $198,250 for a household of five, can apply for the apartments, priced at $2,350/month for one bedrooms and $2,750/month for two bedrooms.

Rendering courtesy of Hill West Architects

Developed by K2 Real Estate Partners and designed by Hill West Architects, 210 Clarkson contains a total of 165 rental units. Amenities include private working spaces, a gym, a yoga studio, a lounge, a game room, a screening room, a pet spa, and a large outdoor terrace. A new supermarket will be on the ground level.

The apartments feature thoughtfully crafted layouts with spacious floor plans and stainless steel appliances in both the kitchens and bathrooms. Select units come with walk-in closets, separate home offices, and outdoor terraces, according to the building’s website.

Prospect Lefferts Gardens, home to both tree-lined residential streets and bustling commercial avenues, offers endless options for dining, shopping, and nightlife. The 585-acre Prospect Park is a few blocks west and several subway lines make it a decently easy commute to Manhattan.

Permits for the new rental building were filed in December 2019, according to Yimby. In addition to the residences, 210 Clarkson has roughly 18,700 square feet of commercial space and 700 square feet for a community facility.

In November 2019, SCALE Lending provided K2 Real Estate Partners with a $68.5 million construction loan to finance 210 Clarkson. SCALE is the real estate affiliate of Slate Property Group and is one of the most prominent money lenders in the New York City real estate market, according to Yimby. The loan was arranged by Meridian Capital Group.

Nearby public transit options include the 2, 5, B, Q, and S trains, as well as the B12, B44, B44-SBS, and B49 buses.

Qualifying New Yorkers can apply for the affordable units until January 3, 2024. Complete details on how to apply are available here. Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.

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Supportive housing development for homeless LGBTQ young adults opens in Harlem https://www.6sqft.com/supportive-housing-homeless-lgbtq-young-adults-harlem-nyc/ https://www.6sqft.com/supportive-housing-homeless-lgbtq-young-adults-harlem-nyc/#respond Wed, 25 Oct 2023 18:21:36 +0000 https://www.6sqft.com/?p=173395

A new housing development with supportive services for LGBTQIA+ young adults opened in Harlem this week. Gov. Kathy Hochul and Mayor Eric Adams announced on Tuesday the completion of Homeward Central Harlem, a residential project with 50 apartments and on-site services provided by Homeward NYC, a non-profit that provides housing and support for homeless New [...]

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A new housing development with supportive services for LGBTQIA+ young adults opened in Harlem this week. Gov. Kathy Hochul and Mayor Eric Adams announced on Tuesday the completion of Homeward Central Harlem, a residential project with 50 apartments and on-site services provided by Homeward NYC, a non-profit that provides housing and support for homeless New Yorkers. The nine-story building at 15 West 118th Street will offer counseling, case management, group activities, skills-building programs, and connections to community resources.

Rendering courtesy of Gov. Kathy Hochul’s Office.

Developed by TypeAProjects and Azimuth Development Group, the nine-story building includes 50 fully furnished studio apartments for young adults between the ages of 18 and 25. Tenants have already moved into a majority of the apartments. As Gay City News reports, LGBTQ youth are at a higher risk of homelessness; in New York City, LGBTQ young people make up roughly 34 percent of those aged 13-20 living in foster care.

Residents are referred to the building by the NYC Department of Homeless Services, the Department of Youth and Community Development’s Runaway & Homeless Youth program, and the Administration for Children’s Services Foster Care. Housing within the building is non-time limited, which means residents won’t age out of services on their 26th birthday.

Residents will have access to an on-site gym, a communal meeting area, a kitchen, desktop computers, an outdoor patio, a laundry room, low-cost internet service, and are assisted with getting access to financial and health care benefits, according to Gay City News.

“With 50 units of supportive housing and comprehensive counseling, case management, and community resources located right on-site, Homeward Central Harlem is a testament to New York’s ongoing commitment to supporting our LGBTQIA+ community,” Hochul said.

“Homelessness, housing insecurity, and discrimination are still a reality for far too many LGBTQIA+ individuals in our state, but through transformative investments in housing and wraparound services and collaboration with partners like Mayor Adams and Homeward NYC, my administration will continue working to uplift this community and ensure that LGBTQIA+ New Yorkers of all ages can access safe, secure housing with the resources they need to thrive.”

Homeward Central Harlem is Homeward NYC’s third supportive housing development designated for LGBTQIA+ youth.

“LGBTQIA youth are often pushed into homelessness by their family of origin due to sexual orientation or gender identity. When your family tells you that who you are is fundamentally wrong, it fractures your sense of self and safety,” Jeannette K. Ruffins, CEO of Homeward NYC, said in a statement.

“LGBTQIA youth become homeless younger and are often homeless longer. With supportive housing (that’s affordable housing with built-in support services), these young adults are in a safe and affirming space where they can start to explore what they want for the future.”

Residents will pay 30 percent of their monthly income as rent, and the city’s Department of Housing Preservation and Development will cover the difference through its 15/15 program.

HPD has provided a full 420-c tax exemption for the building, according to the governor’s office.

The new development falls under Hochul’s $25 billion Housing Plan, which promises to create or preserve 100,000 affordable homes across the state, including 10,000 with support services for vulnerable populations.

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Next to a transit hub and historic park in Jamaica, 67 mixed-income luxury units are available, from $1,585/month https://www.6sqft.com/housing-lottery-opens-for-67-units-next-to-rufus-king-park-in-jamaica/ https://www.6sqft.com/housing-lottery-opens-for-67-units-next-to-rufus-king-park-in-jamaica/#comments Tue, 24 Oct 2023 15:44:01 +0000 https://www.6sqft.com/?p=173209

A new rental in Queens is now accepting applications for 67 mixed-income apartments. Located at 153-10 88th Avenue in the heart of Jamaica, The 88 includes luxury units and amenities, including two landscaped rooftop decks. The building sits next to Rufus King Park and is near several public transit lines. New Yorkers earning 80 and [...]

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A new rental in Queens is now accepting applications for 67 mixed-income apartments. Located at 153-10 88th Avenue in the heart of Jamaica, The 88 includes luxury units and amenities, including two landscaped rooftop decks. The building sits next to Rufus King Park and is near several public transit lines. New Yorkers earning 80 and 130 percent of the area median income, or between $57,292 for a single person annually and $198,250 for a household of five, can apply for the apartments, which range from $1,585/month studios to $3,075/month two bedrooms.

Rendering courtesy of NYC Department of Housing Preservation and Development

Developed by Zara Realty and designed by Ismael Leyva Architects, the nine-story building contains 223 apartments, 30 percent of which are priced below the market rate. The 88 features energy-efficient features like an HVAC system that consumes less energy than traditional systems and a solar roof.

All tenants have access to a valet parking garage with electric charging stations, a fitness center with a yoga studio, a library, a lounge, and two expansive landscaped roof decks with grilling stations and shading dining areas.

Additional perks include bike storage lockers, a shared laundry room, a media room, an open lawn space, and a 24-hour attended lobby.

Alchemy Studio designed the interior of the apartments, which boast spacious layouts, custom floor-to-ceiling windows, chef-quality kitchens with white oak cabinetry, white quartz countertops, and a full suite of state-of-the-art appliances, and bathrooms with spa-like features, including custom vanities and standing glass showers in select units.

Certain units also come with private rooftop terraces with views of Jamaica’s hillsides and the historic Rufus King Park.

Residents will have easy access to abundant public transit options, including the F, E, J, and Z subway lines, the several Queens-bound buses, and the Long Island Rail Road.

Qualifying New Yorkers can apply for the affordable units until December 18, 2023. Preference for 50 percent of the units will be given to residents of Queens Community District 12. Complete details on how to apply are available here. Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.

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Bronx Point phase one opens with 542 new homes and a waterfront park https://www.6sqft.com/bronx-point-phase-one-opens-with-542-new-homes-and-a-waterfront-park/ https://www.6sqft.com/bronx-point-phase-one-opens-with-542-new-homes-and-a-waterfront-park/#comments Fri, 20 Oct 2023 17:45:00 +0000 https://www.6sqft.com/?p=173013

The first phase of a major mixed-use development in the South Bronx has officially opened. Officials on Thursday unveiled 542 new units of affordable housing and a 2.8-acre waterfront public park now complete as part of the $349 million Bronx Point project. The development will also be home to the Universal Hip Hop Museum, which [...]

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The first phase of a major mixed-use development in the South Bronx has officially opened. Officials on Thursday unveiled 542 new units of affordable housing and a 2.8-acre waterfront public park now complete as part of the $349 million Bronx Point project. The development will also be home to the Universal Hip Hop Museum, which will open in 2025 as the first museum of its kind in the country.

Photo credit: Sylvester Zawadzki

Developed by L+M Development Partners, Type A Projects, Bronx Works, and the city of New York in a public-private partnership, the 22-story mixed-use development measures roughly 530,000 square feet. The development, designed by S9 Architecture, sits on a formerly vacant city-owned site on the Harlem River.

“Today’s ribbon cutting ceremony represents the next step forward in our complete reimagining of a once dormant site, and we look forward to welcoming our first residents to Bronx Point in the coming weeks,” Lisa Gomez, CEO and Partner at L+M Development Partners, said. “We are especially grateful to Type A Projects, The Hip Hop Museum, BronxWorks and our partners in city and state government for their crucial assistance in making the dream of Bronx Point a reality.”

A majority of the 542 homes that are now open were available to New Yorkers through a housing lottery that opened in May. According to the developer, more than 63,000 people applied to live at the development.

The apartments include 135 studios, 192 one-bedrooms, 122 two-bedrooms, and 93 three-bedrooms, priced between $465/month and $3,332/month. New Yorkers earning 30, 50, 80, and 120 percent of the area median income– or between $18,515 annually for a single person and $198,600 for a household of seven–were eligible to apply for the apartments.

Bronx Point residents have access to on-site laundry, a gym, a community center, outdoor space, a children’s playroom, a 24-hour attended lobby, and an outdoor terrace.

Also officially open is the new public park and esplanade designed by Marvel with Abel Bainnson Butz. The open space includes a new waterfront promenade with flood mitigation measures, a children’s play area, and a plaza at Exterior Street.

“Bronx Point symbolizes a culmination of collective vision in community-driven design. A design that not only meets the neighborhood’s active space needs but that also champions waterfront ecology, landscape, and education,” Yadiel Rivera-Diaz, Partner, landscape architect at Marvel, said.

“Now fully accessible and usable, the waterfront and new park seek to forge connections between residents and the Harlem River. Paying testament to the power of community, Bronx Point is a hub for learning, gathering, play, physical activity, and exploration for all ages and abilities. Marvel is elated to have played a role in this project, giving Bronx residents ‘a voice’ in its design and outcome.”

Construction on the project broke ground in January 2021 shortly. The second phase of the project includes the remaining apartments and the retail and community spaces.

The permanent home for the Universal Hip Hop Museum will open in 2025 on the ground level of the development. Exhibits will celebrate all things hip hop, which was invented in the Bronx in the 1970s.

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NYC on track to build just 11,000 homes this year, half of 2022 total, report finds https://www.6sqft.com/nyc-build-just-11000-homes-in-2023-amid-housing-crisis/ https://www.6sqft.com/nyc-build-just-11000-homes-in-2023-amid-housing-crisis/#respond Thu, 19 Oct 2023 15:51:18 +0000 https://www.6sqft.com/?p=172890

New York City will build just 11,000 new units of housing this year, a sharp decline from the year before and way below the number of homes needed to address the city’s current housing crisis. According to a report released Wednesday by the NY Building Congress, construction of new residential units dropped by 62 percent [...]

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New York City will build just 11,000 new units of housing this year, a sharp decline from the year before and way below the number of homes needed to address the city’s current housing crisis. According to a report released Wednesday by the NY Building Congress, construction of new residential units dropped by 62 percent in 2023, due to the expiration of the 421-a tax abatement in combination with high interest rates.

Image courtesy of the NY Building Congress

According to the report, the initial projection for the number of new units the city would create this year was 30,000, but the outlook has dropped to just 11,300. By 2030, NYC’s housing gap is expected to reach more than half a million units.

“The loss of the 421-a tax abatement combined with high interest rates led to slower overall growth, though renovations and alterations have continued,” the report reads.

The report also indicates an increase in construction spending in 2023 to $83 billion, up by $13 billion even after adjusting for inflation. This increase can be attributed to the completion of projects that have been delayed for years due to the pandemic, as well as new developments in manufacturing, warehouses, life sciences, and schools, according to The City.

“Construction spending has always served as an indicator of a region’s economic health, and we’re proud to report continued growth and resilience, high levels of employment and billions of dollars in economic outputs across New York City,” Carlo A. Scissura, president and CEO of the NY Building Congress said.

“Notably, residential construction has declined citywide due to the expiration of 421-a, high interest rates and outdated bureaucratic red tape. The Building Congress calls for policies to support housing production at all levels of affordability to combat our housing shortage and ensure New York is a functional and affordable place for all New Yorkers.” 

Image courtesy of the NY Building Congress

The report also found that although construction employment this year lags behind pre-pandemic levels by five percent, the building industry is projected to grow by nearly 19,000 new jobs over the next three years. The industry is expected to return to pre-pandemic employment levels by 2025.

Non-residential developments still lead construction spending, which was a total of $34.9 billion in 2023. By the end of the year, 6.65 million square feet of new office space will be completed. The construction of new office space is expected to decrease by a million square feet each year through 2025.

Image courtesy of the NY Building Congress

Government spending on the development of new infrastructure is expected to dominate the market for the next few years. In 2023, government construction spending will reach $22 billion, up from $20 billion in 2022.

Over the next three years, the Metropolitan Transportation Authority is expected to invest $30 billion in projects throughout the five boroughs, a 47 percent increase over the agency’s pre-pandemic spending from 2017 to 2019.

The Port Authority of NY and New Jersey is projected to invest $1.8 billion in capital projects throughout NYC this year, down from $2 billion in 2022.

To boost the production of housing citywide, the Building Congress recommends that city officials introduce a new 421-a tax incentive, continue to incentivize office-to-residential conversions, expedite permit approvals, widen Minority and Women-Owned Business Enterprise opportunities, and more.

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Major Willets Point development with NYC’s first pro soccer stadium enters public review https://www.6sqft.com/willets-point-development-with-nyc-soccer-stadium-public-review/ https://www.6sqft.com/willets-point-development-with-nyc-soccer-stadium-public-review/#respond Tue, 17 Oct 2023 19:56:17 +0000 https://www.6sqft.com/?p=172594

Plans for a 23-acre mixed-use development in Queens with thousands of affordable housing and New York City’s first professional soccer stadium are moving forward. The second phase of the Willets Point project entered the uniform land use review procedure (ULURP) on Monday, which puts the plan in front of the public for feedback before being [...]

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Plans for a 23-acre mixed-use development in Queens with thousands of affordable housing and New York City’s first professional soccer stadium are moving forward. The second phase of the Willets Point project entered the uniform land use review procedure (ULURP) on Monday, which puts the plan in front of the public for feedback before being voted on by the City Council. This phase includes 1,400 of the 2,500 total affordable homes, a new 650-seat public school, 40,000 square feet of public open space, retail space, a 250-key hotel, and the first-ever soccer-specific stadium in the city.

Announced by Mayor Eric Adams last November, the “Willets Point Transformation” proposal includes a total of 2,500 affordable apartments, which would make it the largest affordable housing project created in the city in 40 years. The first 1,100 of the 2,500 units have already been cleared in the ULURP process and construction is expected to break ground by the end of 2023.

Phase two includes 1,400 of the total affordable homes as well as a new 650-seat standalone public school, public open space, and the permanent home for New York City Football Club (NYCFC), according to the city’s Economic Development Corporation. The 25,000-seat stadium will be located across the street from Citi Field.

Developed by the soccer team, Related Companies, and Sterling Equities and designed by HOK, the stadium will feature a striking, “activated cube” entranceway, which will be illuminated on match days with vibrant colors and imagery to ensure a dynamic experience for stadium visitors, according to a press release. S9 Architecture and Turner Construction Company are design and construction partners on the project.

The project is expected to generate $6.1 billion in economic impact over the next three decades, creating 1,550 permanent jobs and 14,200 construction jobs.

“Today, we take a major step closer to creating 2,500 affordable homes — New York City’s largest fully affordable housing project in decades — while simultaneously creating 16,000 good-paying jobs to provide a true pathway to the middle class, right in the heart of Queens,” Adams said.

“With this plan, our administration is seizing a once-in-a-generation opportunity to create a brand-new neighborhood — a Willets Point that offers opportunity for working people and all New Yorkers. As we begin the land use review process, we look forward to building on our extensive engagement by continuing conversations with community members and building a true ‘City of Yes.’”

The seven buildings of affordable housing will anchor the new neighborhood, which will focus on pedestrian-centric urban planning principles, with pedestrianized common areas and space for small businesses and recreation.

A new rendering depicts the NYCFC mascot, The Piegon, on the outside of the stadium.

NYCFC, the 2021 MLS champions, will finance the stadium’s construction, which is projected to cost $780 million. The city will lease the land to the soccer team and the developers for 49 years, with the opportunity to extend the lease for 25 more years.

While the stadium will be privately financed, the owners will not have to pay real estate taxes for the duration of the lease, according to the New York Times.

The stadium is expected to open in 2027, a year after the 2026 FIFA World Cup is hosted by NYC and New Jersey.

“Queens and New York City need and deserve this transformational new community in Willets Point,” NYCFC Vice Chairman, Marty Edelman, said. “We promised our growing fan base we would build their home in the five boroughs, and with their continued enthusiastic support, we continue our journey to have that home as part of this unprecedented new housing community.”

Plans to redevelop the former dumping ground and industrial neighborhood have been in the works for decades. In 2007, former Mayor Michael Bloomberg announced plans for a mixed-use development that included apartments, offices, and a shopping mall, but ended up being stalled and eventually discarded because of a lawsuit.

In January 2019, Mayor Bill de Blasio revived the plan, announcing the addition of affordable housing to the project and a remediation of the site. Since the plan was revealed, a majority of the area’s more than 200 businesses have been evicted or bought out, according to the New York Times.

As part of the public process, the project will be reviewed by the local community board, the Queens borough president, the City Planning Commission, the City Council, and finally, the mayor.

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Live in NYC’s first all-electric skyscraper in Downtown Brooklyn, from $763/month https://www.6sqft.com/live-at-nycs-first-all-electric-skyscraper-in-downtown-brooklyn-from-763/month/ https://www.6sqft.com/live-at-nycs-first-all-electric-skyscraper-in-downtown-brooklyn-from-763/month/#respond Tue, 10 Oct 2023 16:52:49 +0000 https://www.6sqft.com/?p=171825

New York City’s first all-electric skyscraper launched a housing lottery on Tuesday for 45 mixed-income apartments. The 44-story residential tower in Downtown Brooklyn, previously 100 Flatbush Avenue and now called 505 State Street, will run totally off electricity instead of natural gas and apartments will have sustainable features. New Yorkers earning 40, 60, and 100 [...]

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New York City’s first all-electric skyscraper launched a housing lottery on Tuesday for 45 mixed-income apartments. The 44-story residential tower in Downtown Brooklyn, previously 100 Flatbush Avenue and now called 505 State Street, will run totally off electricity instead of natural gas and apartments will have sustainable features. New Yorkers earning 40, 60, and 100 percent of the area median income can apply for the apartments, which include studios ranging from $763 to $2,017/month, one-bedrooms from $812 to $2,155/month, two-bedrooms from $965 to $1,502/month, and three-bedrooms from $1,105 to 1,725/month.

Designed and developed by Alloy Development, 505 State Street falls under the first phase of Alloy Block, a mixed-use five-building development that will bring 850 apartments (200 of which will be considered affordable), 100,000 square feet of office space, and two public schools to the neighborhood.

The skyscraper features a carbon-neutral, all-electric design, with all of the functions that normally run on gas operating on electricity instead. Alloy recently issued a request for proposals to work with a firm on enrolling the tower in community solar projects that will provide the development with a 100 percent local renewable energy supply. Alloy says it’s the first developer to pursue such a program following new rules regarding Local Law 97 issued by Mayor Eric Adams last month, which allows developers to comply with the law through off-site solar programs.

Apartments come equipped with sustainable features like induction cooktops and heat pump dryers and are finished with thoughtfully sourced natural materials like concrete and wood.

“The city’s first fully electrified skyscraper can serve as a model for other neighborhoods as cities around the world look to chart a greener path – and as a welcoming home and workplace for those seeking out a greener lifestyle and a sustainable future,” Jared Della Valle, CEO of Alloy, said.

The building’s amenities include a gym with a yoga studio, a pool, a gym, a media room, a party room, an outdoor terrace, a recreation room, a 24/7 attended lobby with concierge service, and package lockers.

Upon completion, Alloy Block will include two new schools: the Khalil Gibran International Academy (KGIA) and a public elementary school. KGIA is the city’s first Arabic-language-focused high school and will be able to accommodate a larger number of students in their new space. The school will also include a new cafeteria, gym, and library.

Both of the new schools were designed by the Architecture Research Office and developed in collaboration with the NYC Educational Construction Fund. The schools will strive to meet the strict energy-efficiency standards that qualify for Passive House certification, and upon receiving certification, would be the first public schools in the city to do so.

Alloy Block was first approved by the NYC Council in September 2018, after negotiations that led to the heights of its two tallest buildings being lowered from 986 to 840 feet, and 560 to 510 feet. As part of the agreement, the number of units in the complex was cut from 900 to 870.

Construction on the first phase of Alloy Block broke ground in July 2021, which included the 44-story tower, retail space, and two public schools. The skyscraper topped out in January. The project’s second phase of development will include a mixed-use residential, office, and retail tower, which will also have space for a new cultural institution.

Nearby public transit options include the 2, 3, 4, 5, B, D, N, Q, and R subway lines, the B37, B41, B45, B63, B65, and B67 buses, and the Long Island Rail Road.

Qualifying New Yorkers can apply for the apartments until December 11, 2023. Complete details on how to apply are available here. Preference for 50 percent of the units will be given to residents of Brooklyn Community District 2. Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.

If you don’t qualify for the housing lotteries mentioned, visit CityRealty.com’s no-fee rentals page for other apartment deals in the city.

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