JV Breaks Ground on Brooklyn Affordable Housing
Once completed, the project will offer 104 units and 22,000 square feet of community space.
The Hanson Place Community Plaza has broken ground in the Fort Greene enclave of Brooklyn, N.Y. Hanson Place Church Support Corp., MDG Design + Construction (MDG), the New York City Department of Housing Preservation and Development (HDC), Citi Community Capital (CCC) and The Richman Group are joining forces to develop the $65.7 million property.
As a result of the 104 affordable apartments and 22,000 square feet of community space created, the Hanson Place Community Plaza project is expected to spur economic growth into the Fort Greene neighborhood.
The 13-story development will offer rental rates very low- to moderate-income households will find affordable, and incorporate green and sustainable design features.
The development will also feature conference rooms, office space and an 8,000-square-foot medical center offering affordable healthcare programming for the community. A 250-person multi-purpose room will also be incorporated in the building.
The multi-purpose room is designed to serve a trio of community programs. The first is Adventurers Youth Mentoring Program, whose mission is to fortify parent-child rapport via weekly, specialized activities for children aged six through 16. A second is music education and enrichment programs from Hanson Place Church Support Corp. The third is offering meeting space where local nonprofit organizations can gather.
Financing for the project is being made available by funding from HPD and HDC’s Mix & Match program. Additional funding came from $2.8 million in Resolution A (Reso A) Capital Funds from Mayor Eric Adams, the former borough president, as well as council member Laurie Cumbo. The project will be involved in HPD’s M/WBE Build Up Program. The objective of that initiative is to exceed the participation of minority- and women-owned business enterprises required for construction.
Earlier this month, Northlink Capital sold a Brooklyn property called The Vitagraph for $180 million.