MDG Opens Affordable Community in Brooklyn
The 104-unit property includes community space and a medical center.
MDG Design + Construction has finished work on Hanson Place Community Plaza, a 104-unit partially affordable housing community in Brooklyn, N.Y. A total of 87 units are fully affordable, designated for very low- to moderate-income households.
MDG broke ground on The Hanson Place in April 2022. Partners on the project include Hanson Place Church Support Corp., New York City Department of Housing Preservation and Development, Citi Community Capital and The Richman Group.
Financing for the $65.7 million project included a $49.3 million construction loan provided by the New York City Housing Development Corp., a $3.1 million loan provided by Hanson Place Church Support Corp. and $1.9 million in construction financing from MDG, according to Yardi Matrix data.
Hanson Place Church and the Department of Housing Preservation and Development provided additional funds through their Mix & Match Program, while Mayor Eric Adams and Council Member Laurie Cumbo approved $2.8 million in Resolution A capital funds. Hanson Place Community Plaza is also subject to a 99-year unsubordinated net ground lease, the same source shows.
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The community is in Brooklyn’s Fort Greene neighborhood, at 142 S. Portland Ave. The property is near Interstate 278 and several public transit options, providing access to the wider metro region.
MDG specializes in rehabilitating or developing affordable housing projects throughout New York City. To date, the company created or preserved approximately 23,500 units of affordable housing and is responsible for over $3.9 billion invested in underserved communities.
A health-driven community
The 13-story building features 22,000 square feet of community space that includes amenities such as a multipurpose room, terraces and laundry facilities. Residents can also access an 8,000-square-foot medical center that provides affordable healthcare programming, conference rooms and office space.
Designed to serve a trio of community programs, the multipurpose room will offer music education and enrichment programs from Hanson Place Church Support Corp., a nonprofit meeting space for local organizations to gather and the Adventurers Youth Mentoring Program, which aims to help fortify parent-child relationships via weekly, specialized activities.
