The ribbon was cut earlier this month on Livonia Commons, a mixed use project in the East New York section of Brooklyn, where the NYC Housing Partnership worked with Dunn Development Corp., as the not for profit sponsor. The project consists of 278 new apartment and over 26,700 square feet of ground floor retail/community facility space in 4 separate buildings. It is the first of many projects that will contribute to Mayor de Blasio’s 200,000 unit affordable housing goals.
“We are proud to be a part of the Mayor’s stated initiative to deliver more affordable housing for New Yorkers,” said Daniel Martin, President of the NYC Housing Partnership.
Fifty-one of the units will be reserved for special needs and/or formerly homeless individuals, with onsite supportive services for these units provided by CAMBA, a Brooklyn-based non-profit organization that offers programs in economic development, education and youth development, family support, health, housing and legal services.
Financing was provided through a combination of private activity tax-exempt bonds from HDC, low income housing tax credits through HPD, State Low Income Housing Tax Credits through HCR, and additional funds from HDC and HPD, including the value of the vacant lots conveyed by the City to the NYC Housing Partnership where the buildings were built.
The NYC Housing Partnership and Dunn Development have long worked together to deliver affordable housing, including most recently in 2013 the Navy Green project in Wallabout, Brooklyn, a new 12-story, 113-unit affordable housing project with commercial, retail, community facility and outdoor recreational space.
Working with numerous partners, the NYC Housing Partnership expects to begin construction on a total more than 2,600 units before the close of the City’s fiscal year ending June 30th and over 4,000 units anticipated to break ground by end of year 2014.