The River Crossing building in Harlem; Photo by CTC Creative
A group of real estate investors is buying 2,800 New York City rental apartments for $1.2 billion. But instead of keeping with the industry’s custom of converting affordable units into market-rate homes, L+M Development Partners and its partner Invesco Real Estate plan on returning a chunk of those units to long-term regulation. The venture involves the purchase of five former Mitchell-Lama buildings in Manhattan, with four in Harlem and one on Roosevelt Island.
Courtesy of Curtis + Ginsberg Architects
A lottery launched this week for 113 mixed-income apartments in Edgemere, a beach-front neighborhood just outside of Far Rockaway in Queens. Designed by Curtis + Ginsburg, the eight-story building meets passive house certification by utilizing a geo-thermal cooling and heating system with a resilient, flood-proof design. Qualifying New Yorkers earning 30, 40, 50, 60 and 100 percent of the area median income can apply for the available units at 45-19 Rockaway Beach Boulevard, which range from a $331/month studio to a $1,910/month three-bedroom.
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Rendering via L+M and Curtis+Ginsberg Architects
Plans for a seven-building affordable housing development in Brooklyn’s Brownsville were released this week, as part of the city’s revitalization effort in the neighborhood. As part of the “Brownsville Plan,” the proposed project includes eight-to nine-story residential buildings with new retail and community space along Livonia Avenue. The project would extend the existing Marcus Garvey Apartments, a housing complex built in the mid-1970s that currently has many underutilized parking lots (h/t YIMBY). Overall, the more than 900,000-square-foot development will bring over 840 affordable apartments, currently estimated to be set aside for New Yorkers earning 80 percent or below the area median income.
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Rendering courtesy of Handel Architects
Permits have been filed for a 37-story, 384-unit tower in East Harlem as part of Sendero Verde, a massive mixed-use complex developed by Jonathan Rose Companies and L + M Development. The site’s newest building is set to rise at 1681 Madison Avenue and measure just over 385,000 square feet. Floors five through 36 of the Handel Architects-designed building will contain 12 apartments each; offices and retail space will occupy the first three levels, as CityRealty learned. A fresh pair of renderings of Sendero Verde highlights the winding central landscaped path, nonprofit DREAM’s charter school and the extensive community space planned for the development.
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Rendering courtesy of Dattner Architects
Nearly a year ago, L+M Development Partners and Hornig Capital Partners broke ground on a $156 million, mixed-use development on the St. Barnabas Hospital campus in the Belmont section of the Bronx, adjacent to Little Italy’s Arthur Avenue and just a short walk to the Bronx Zoo. A pair of all-affordable housing projects–an 11-story, 181-unit building at 4511 Third Avenue and a 12-story, 133-unit building down the street at 4439 Third Avenue–the Dattner Architects-designed complex aims to combine health care services, affordable housing, job creation, outdoor fitness areas, and healthy food options to low-income residents of the community. And these residents earning 60 percent of the area median income can now apply for 218 apartments, ranging from $865/month studios to $1,289/month three-bedrooms.
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Photo via Paul Sableman/Flickr
A 110-unit, mixed-use project in Alphabet City is nearing completion, and with that, has just launched its affordable housing lottery for 28 apartments. The mixed-income units are available to those earning 40, 60, and 130 percent of the area median income and range from $596/month studios to $2,519/month two-bedrooms. The 75/25 project at 79 Avenue D offers a terrace, landscaped roof deck, fitness center, lounge, bike room, and, of course, proximity to all the trendy spots in the East Village and Lower East Side.
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Rendering of Bronx Point courtesy of S9 Architecture
A new rendering of Bronx Point, a mixed-use development planned for the South Bronx waterfront, has been unveiled, providing a closer look at L+M Development Partner and Type A Projects’ plan to bring over 1,000 units of housing, a food hall and the country’s first brick-and-mortar museum designated to Hip-Hop to the neighborhood. As YIMBY reported, the housing will be delivered in two phases, with the first bringing 600 units of permanent affordable public housing by 2022. The second phase is expected to wrap up about three years after the first. Designed by S9 Architecture, the complex will include a new waterfront esplanade, state-of-the-art multiplex theater, flashy outdoor performance area and educational spaces.
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Rendering of 247 Cherry Street via SHoP Architects
In an effort to slow construction of three residential towers in the Two Bridges neighborhood, City Council Member Margaret Chin and Manhattan Borough President Gale Brewer will submit an application to the Department of City Planning that forces the plan to go through the city’s land use review process. Developments at the waterfront site include a 1,000+ foot tower from JDS Development Group, a 1.1 million-square-foot development from L+M Development and CIM Group, and a 724-foot rental building from Starrett Development. According to Politico, the Manhattan pols hope the review process will encourage public scrutiny of the projects, including a demand for shorter structures.
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, Fri, September 22, 2017
Rendering via S9 Architecture
A vacant waterfront site in the booming South Bronx will give way to an enormous affordable housing complex with 1,045 residential units, a home for the much-hyped Universal Hip-Hop Museum, a waterfront esplanade and outdoor performance space, a multiplex theater, and, of course, a food hall, in this case curated by Anna Castellani of Brooklyn’s wildly popular Dekalb Market Hall. The Real Deal reports that L+M Development Partners won the bid for the $200 million project, dubbed Bronx Point, which is located adjacent to Mill Pond Park and the 145th Street Bridge that runs into Manhattan.
More details ahead
Renderings via Handel Architects
Despite Mayor de Blasio’s success meeting his affordable housing goals, East Harlem has fallen behind. As 6sqft recently reported, out of the 21,963 new units added in 2016, just 249 were built in East Harlem, prompting the city to expedite the construction of 2,400 affordable units there over the next few years. A large chunk of this will come from Sendero Verde, a massive, mixed-use development that will bring 655 affordable rentals to the block bound by East 111th and 112th Streets and Park and Madison Avenues. Back in February, Jonathan Rose Companies and L+M Development Partners released a rendering from Handel Architects of the 751,000-square-foot project, but now CityRealty has uncovered an entire batch of drawings from the firm that detail how it will be the country’s largest passive house project and weave together the residences, a school, supermarket, and four community gardens, all surrounding a multi-layered courtyard.
More looks and details ahead