Developers Jonathan Rose of the Rose Companies and Gerard Lettire closed a couple of weeks ago on financing for the Tapestry, a 184-unit, affordable housing project 245 East 124th Street (at Second Avenue) in Harlem. The 12-story rental development will seek a LEED Silver rating from USGBC, meet the Enterprise Green Communities Criteria, and participate in NYSERDA’s Multifamily Performance Program. Rose broke ground on the $65 million project yesterday and assembled financing from a dizzying number of sources- Enterprise tax credits, tax-exempt bonds, loans, and other grants. Mr. Rose told the New York Times last week that, even in the midst of the credit crunch, financing is still out there for developers who “have a good track record, and financial strength, and the project has to be well thought-out.”
November 19th, 2008 | Stephen Del Percio | 0 comments | ContinuedAll Posts Tagged With: "Harlem"
David & Joyce Dinkins Gardens: First Green Exclusively Affordable Housing Development in Harlem
On Monday, Jonathan Rose Companies and the Harlem Congregations for Community Improvement (“HCCI”), co-developers of David & Joyce Dinkins Gardens, opened the $19.5 million, 85-unit green building at 263 West 153rd Street, just across the Harlem River from Yankee Stadium between Frederick Douglass Boulevard and Macomb Place. The project is named for former New York City Mayor David Dinkins and his wife- Mr. Dinkins is the only African-American to serve as mayor in Gotham’s history- and the development is part of Mayor Bloomberg’s plan to build 165,000 units of affordable housing for 500,000 New Yorkers over the next ten years.
April 1st, 2008 | Stephen Del Percio | 4 comments | Continued
Observatory Place: East Harlem’s First Green Building Underway at 2021 First Avenue
Designed and developed by Gary Silver Architects, Observatory Place at 2021 First Avenue and East 104th Street is an 11-story luxury condominium project that will seek an unspecified level of LEED certification- the first such application in East Harlem. The mixed-use project offers 38 residential units with bamboo flooring and an 11th floor green roof, as well as a lobby with bike and Fresh Direct storage space. Silver told Multi-Housing News that the development is “geared to attracting young people who live in rental buildings in Harlem or other parts of the city and are ready to take that next step and purchase an apartment with a monthly mortgage comparable or even lower than paying rent. We had a clear focus of who our target buyer was and what they were looking for.”
February 8th, 2008 | Stephen Del Percio | 1 comment | Continued