13 March 2013
- Affordable Lender CPC Gets $250M Boost [✜]
-
Good for them (and good on Citigroup for putting up the money). CPC let itself get distracted by being thinking they should be a developer, which they never were. Their core role of providing funding for affordable housing is too important:
Experts, such as president of the city Housing Development Corporation Marc Jahr, see CPC’s focus on small, four-story walk-ups and six-story elevator buildings as essential to revitalizing the city. “The fate of a neighborhood resides in the fate of those buildings,” Jahr told the Journal.
10 January 2013
- Renderings: New Development at Manhattan and Box [✜]
-
Greenpointers has renderings for the new mixed affordable/market-rate development going in at the site of the former BRT trolley barn at 1133 Manhattan Avenue. I noted before the similarity of this project to 11 Broadway - turns out there is another connection in the architect (the design team behind 11 Broadway is now at Perkins Eastman).
26 December 2012
- New Affordable Development in Greenpoint [✜]
-
210 units of new housing will rise on the site of the former Brooklyn Heights Railroad Co. trolley barn at Manhattan between Box and Clay. The building (Crain's says it's a "tower", but the R6A puts a 7-story cap on the whole thing) will have half the units set aside middle- and low-income residents, with the other half being market rate. I'm not sure if the income splits are exactly the same, but this mixed affordable/market-rate development scenario is a very similar set up to 11 Broadway.
Domino Sells
Related, Silverstein Also Looked at Domino
Community Anxious Over Possible Domino Sale
Two Trees to Buy Domino?
30 May 2012
- LPC Warehouse RFP Issued [✜]
-
Brownstoner has published the full text of the press release for the Landmarks Warehouse RFP. This is the site at 337 Berry between South 4th and South 5th Streets that was promised as affordable housing in the 2005 rezoning. CB1 pushed hard to get the City to agree to some additional community benefits, most notably a local presence on the development team. And lo, HPD delivered:
As part of the RFP’s threshold criteria, at least one Principal of the development team must also be a locally-based development company
That probably does not mean that a local partner is required, but it comes darn close. Los Sures should have the inside track here, assuming that they can put together a viable proposal and convince the city that they can pull the project off.