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Does TNR Have the Funding to Build Greenpoint Hospital?

The Daily News reports this morning that TNS Development – the group that won the bid from the City to build affordable housing at the Greenpoint Hospital site – may not have the funding lined up to do the project. Specifically, TNS’s bid to the City included almost $4 million in funding from Borough President Marty Markowitz – money that Markowitz says he has not been asked for and probably wouldn’t give if he was asked for it:

‘I have not received any request for funding … nor have I made any commitment to this organization.’ [Markowitz] wrote in a letter this month to Housing Preservation and Development officials.
‘Your development staff should be familiar with my past … appropriations to realize that the sums being requested exceed the funds I have provided to individual housing projects during my tenure.’

This confirms what I have been hearing for some time now: that TNS probably does not – and will not – have the funding to do the project.

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