Firm Role
Co-Developer
Project Type
Residential with office/community Space
Construction Type
New Construction
Owner
HCCI
Property Manager
Prestige Management
Development Team
Architect: Victor Body Lawson Associates
General Contractor: The Bluestone Organization
Attorney: Lawyers Alliance of NY
Consultant: Urban Oasis Development LLC
Development Profile
53 Units
45 one-bedroom
6 two-bedroom
1 two-bedroom superintendent
20,000 Community and Office Space for HCCI
Parking & Number of Spaces
R7-2 Zoning with Quality Housing Standards
Central Air, fully handicap accessible, 9th floor recreation space
including outdoor terrace
Development Plan
Urban Redevelopment
Development Budget
Sources:
LIHTC Equity - $10.3m
Commercial Loan - $3.4M
Housing Trust Fund - $2.2M
Deferred Fee - $0.3M
Total Sources: $16.2M
Uses:
Soft Costs - $1.6M
Hard Costs - $13.1M
Fee - $1.2M
Other - $0.3M
Total Project Costs: $16.2M
Primary Funders
New York State Division of Housing and Community Renewal
Housing Trust Fund
Federal Tax Credits
Enterprise Community Investment for tax credit Equity
Enterprise Community Partners for Green Communities funding
JPMorganChase Community Lending
Project Status
Pre-development