In Development

The Robeson - 407 Lenox Ave

  • Developer: 407 Lenox Avenue, LLC
  • Address: Lenox Avenue between West 130th and 131th Street, Harlem New York
  • Specs: 10–story mixed use new construction building with 79 mixed-income units, 7,500 sf of ground floor commercial space, and 2,500 sf of community facility space. The affordability mix ranges from 50% to 130% of AMI. The site was rezoned R7-2 (4.00 FAR) to R8A w/ MIH (7.20 FAR).
  • Amenities: Fitness center, common outdoor space, bicycle parking, laundry room, high grade finishes, PTAC heating and cooling, and dishwashers.
  • Financing: Conventional debt, HDC & HPD subsidy and developer equity.
  • Projected Timeline: Start Q3 2018 – 24 month construction period.
  • Estimated Development Cost: $45,000,000

Mount Hope Repositioning

  • Developer: NCV HOPE LLC
  • Location: Mount Hope neighborhood of the Bronx
  • Specs: In-place rehabilitation of 516 affordable rental units within 13 buildings.
  • Projected Timeline: Start Q1 2019 – 21 month construction period.
  • Financing: Private senior debt, HPD PLP subsidy, and developer equity.
  • Estimated Development Costs: $97,500,000

The Leroy

  • Developer: 407 Lenox Avenue, LLC
  • Address: 225 West 140th Street
  • Specs: 7–story mixed use new construction building with 20 mixed-income units and 2,500 sf of community facility space. The affordability mix ranges from 60% to 130% of AMI.
  • Amenities: Fitness center, common outdoor space, bicycle parking, laundry room, high grade finishes, PTAC heating and cooling, and dishwashers.
  • Projected Timeline: Start Q1 2018 – 24 month construction period.
  • Financing: TE Bonds, HDC & HPD subsidy, LIHTC & SLIHC equity and developer equity.
  • Estimated Development Cost: $15,000,000

Balton Commons

  • Developer: Balton Commons LLC
  • Address: 267 West 126th Street, Harlem NY
  • Specs: 7-story mixed use passive house new construction building with 37 mixed-income units, 4,500 sf of tech incubator space, 1,200 sf of ground floor commercial space, and 1,350 sf of community facility space. The site was awarded as part of NYC HPD M/WBE RFP.
  • Amenities: Fitness center, common outdoor spaces, bicycle parking, laundry room, high grade finishes, VRF heating and cooling and dishwashers.
  • Projected Timeline: ULURP for UDAAP designation & disposition of city-owned land Q3 2018. Construction start closing Q4 2018 – 24 months construction period.
  • Financing: Private debt, HPD subsidy & LIHTC equity.
  • Estimated Development Cost: $19,000,000

  • Developer: 7th Avenue Housing Development Fund Company
  • Address: 2524 – 2526 Adam Clayton Powell, Harlem New York
  • Specs: A gut rehabilitation of an 18 unit multifamily residential units and 1 retail unit for Low and Moderate income tenants.
  • Anticipated Completion: Q3 2018
  • Financing: Community Preservation Corporation and HPD.
  • Total Development Costs: $6,000,000