The 234 Apartment

Another program, run by the Urban Homesteading Assistance Board , works with the city on co-op conversions of buildings taken over from delinquent landlords. Tenants help with renovations and can eventually buy the units for low prices. About 30,000 apartments are in the program, which is administered by the city’s Department of Housing Preservation and Development. Since 2003 the city’s Housing Development Corporation has also been partnering with both for-profit and nonprofit developers to create new affordable apartments — 1,767 units in 21 buildings. The benefits of promoting homeownership in this way extend far beyond the individual owners, said Andrew Reicher, the executive director of the Urban Homesteading Assistance Board . “In the Lower East Side , in Harlem, in Bed-Stuy,” he said, “these owners stuck it out and struggled to improve their block, and improvements spread from their work. And they are not displaced when the neighborhood turns around.” Of course, the question fo...

Evelyn Gaston was 9 years old in 1971, when she lived with her mother and grandmother at 18 Wright St. in Rock Hill. Over the years, she raised her daughter in that home. And her daughter had her first child there. Life got away from Gaston soon after. She was unable to pay for the home, which led to it being demolished around 15 years ago. Then, she says, “ God put special people ” in her path. After learning recently that a new home was being built in that same spot, she went to her friends in city government. “After that, I didn’t have to do much,” said Gaston. “ People jumped right on in to help me, everybody stepped in to make sure I would get back on that property.” Gaston was among four people who spoke Thursday about how the Housing Development Corporation of Rock Hill (HDCRH) changed their lives for the better. The affordable housing organization held its annual luncheon and meeting at Manchester Meadows, with guests including Rock Hill Mayor Doug Echols and members of t...

WITH the median price of an apartment in Manhattan topping $1,000 a square foot, homeownership is often far out of reach. But there are options for those who cannot afford the market rate, including co-op apartments for buyers who earn a certain percentage of the area median income , or A.M.I. These buildings are scattered all over the city. Some date to the 1950s; others are brand-new and still looking for buyers. Some are limited to those who earn less than the median income -- 60 or 80 percent, for example (the median for a family of four in New York City is $83,000). Others have apartments for those earning a bit more than that sum. Many new developments try to bring in owners from different economic backgrounds, and are likely to include market-rate units as well. At one recent development, Atlantic Terrace, near the new Nets arena in Brooklyn, similar one-bedroom apartments were priced at $85,000, $113,000 and $232,000, depending on the buyer's income. A market-rate one-be...

A Kentucky development group is planning a 180- unit affordable apartment complex in north Baton Rouge on the corner of Airline Highway and Plank Road. LDG Development , which specializes in affordable housing , is still in the planning stages for the project, which is named Commodore Pointe . The Baton Rouge North Economic Development District announced the project at its meeting last night. A spokeswoman for the firm declined to comment, but LDG is not new to Baton Rouge. The firm previously developed the $ 24 million Mallard Crossing apartment complex on Greenwell Springs Road in 2012, as well as the Woodcrest Apartments, an $ 8 million development completed in 2013 on North Lobdell Boulevard . The developer is also set to cut the ribbon on the Port Royal Apartments , another affordable housing complex on Airline Highway, on May 10. In March, LDG announced a 204-unit project on Nicholson Drive and Gardere Lane. Commodore Pointe will feature two four- story residential build...

8/18/2017 4:14:00 PM Jackson's Apple Hill Apartments celebrate remodeling with Open House Apple Hill Apartments site at 15 Orchard Lane in Jackson has recently undergone some major positive changes. To celebrate this, an open house event and ribbon-cutting ceremony was held on the afternoon of Wednesday, Aug. 16. Shown above (from the left) during the ribbon-cutting are Jackson City Councilman Jeff Elliott ; Jackson Council President Eric Brown ; USDA Rural Development representative Brent Warren ; Jackson City Councilman Jon Hensler ; Architect Stan Strickland ; Bernard Swack, Robert Bender and Diana Swack of the Provident Companies ; John Kircher of the Ohio Capital Corporation for Housing; Stan Uchida of Park National Bank ; Cheryl Thiessen of Jackson- Vinton Community Action ; and Diane Alecusan of the Ohio Housing Finance Agency . (Telegram Photo By Phillip Buffington)" title="" /> The Apple Hill Apartments site...

NEW YORK, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company , today announced its closing of a $550,000, 000 permanent Freddie Mac loan made to joint-venture partners The Moinian Group and SL Green Realty Corp . for Sky Residences (“Sky”), one of Manhattan’s premier mixed-use residential buildings . The Greystone Bassuk debt advisory team , led by Richard Bassuk and Drew Fletcher, represented the Borrower and assisted in obtaining the Freddie Mac loan through Greystone’s Affordable Lending team . The transaction marks the largest-ever single-asset tax- exempt financing completed by Freddie Mac and a first-of-its- kind private placement structure that includes permanent financing for hundreds of affordable housing units in New York City. Steve Rosenberg , CEO of Greystone, together with Billy Posey, Joe Mosley, and Jeff Englund, collaborated with Freddie Mac on the structure for Moinian and SL Green, and spearheaded the loan proc...

92-61 165th Street, Rendering via NHS Development Corporation With new residential and commercial developments and transit options, Jamaica, Queens is on the brink of renewal, after many years of neglect. Adding to the area’s revitalization, the construction of a new 14- story affordable housing building was finished last fall. Now, applications are being accepted at the building for 88 affordable apartments at 92-61 165th Street in Jamaica Center, Queens. New Yorkers earning 40 and 60 percent of the area median income can apply for units ranging from a $494 per month studio to a $1182 per month three-bedroom . Developed by Archer Merrick, the building features amenities like on-site laundry, an outdoor courtyard, recreation room and bicycle storage. Located near York College, residences have access to the E, F, J and Z trains as well as the Long Island Rail Road Station at Sutphin Boulevard. Qualifying New Yorkers can apply for the affordable apartments at 92-61 16th Street unti...

Long Island City waterfront ." /> The project will bring 1,000 apartments, commercial space and a new school to the Long Island City waterfront . View Full Caption NYCEDC HUNTERS POINT — Critics of the city's plan to build a school, offices and 1,000 apartments on the Long Island City waterfront called it "irresponsible" to develop the site because it's located in a hurricane evacuation zone that's prone to flooding during storms. Advocates said they would rather see the two city-owned parcels — located next to the East River at the end of 44th Drive — converted to public parkland, with plantings, oyster beds and other green infrastructure to help make the area more resistant to floods.  "We think continuing to build in a flood plain is irresponsible," said Diane Hendry, a member of the LIC Coalition, an advocacy group that launched a petition last week opposing the city's plans. "The land is a natural wetlands. It should be preserv...

AT least two projects nestled in a mature residential precinct in District 9 near Somerset are being run as serviced apartments - despite not having the regulatory approval to do so - and a third one is opening. Oxley Thanksgiving Residence , a freehold condominium at 328 River Valley Road owned by Chinese temple Poh Ern Shih , and St Thomas Lodge , which also sits on freehold land at 32 St Thomas Walk , are listed for short-term stay on the website of accommodation service provider Atas Residence . The Business Times' visit to these projects confirmed that they are being run as serviced apartments. A third property, Devonshire Apartments at 17 Devonshire Road , has just undergone a major renovation, and the units there are understood to be starting a new chapter as serviced apartments this month. BT's query to the Urban Redevelopment Authority (URA) confirmed that these three properties are currently approved for residential use, but "do not have planning permission to...

$4 Million Project Includes 40 Senior Living Apartments The Heritage Place senior living apartment complex took another step closer to becoming a reality as the building permit was issued on Monday, Aug. 15. The complex will be constructed next to Orscheln’s, beside and behind the Dos Primos restaurant location . It will feature affordable housing for senior citizens who are 55 and older. The project was proposed more than a year ago to the Board of Aldermen by Woodco, Inc., out of Billings, Mo. The company secured federal and state tax incentives to take on the project which has made the process take longer. The project will be developed by DowCon, LLC, out of Kansas City. Doff Woodman, of Woodco, addressed the board about the development and noted it will be a top-notch facility. In addition to the apartment units there will also be a community building constructed with space for an exercise room, common areas, kitchen and porches for residents to gather. Those interested in b...