JV to Develop 175-Unit Affordable Property in Upper Manhattan
- Mar 12, 2018
The Department of Housing Preservation and Development (HPD), the New York City Housing Development Corp. and the New York Public Library (NYPL) have announced their plan to build a 175-unit affordable community in Manhattan. The property is set to include a universal pre-K facility that will be operated by the New York City Department of Education and a new public library to be owned and operated by NYPL. Dubbed The Eliza, the property will be developed by a joint venture between Community League of the Heights, Ranger Properties, Alembic Community Development and the Children’s Village. Fogarty Finger Architecture and Andrew Berman Architect are the designers of the new building.
Located at 4790 Broadway, the community will be close to Inwood Park and Fort Tryon Park. Named in honor of Eliza Hamilton, The Eliza is set to be a 14-story building with a mix of studios, one-, two- and three-bedroom apartments. In addition to a new three-level library branch, the project will include:
- a gym
- tenant lounge
- roof garden
- bike room
- laundry room
All units will be affordable to extremely low-, very low- and low-income households, as well as to formerly homeless families. The apartments will be restricted to individuals earning between $20,040 and $40,080 annually and households of three earning between $34,360 and $51,540. More than 20 percent of the units are set aside for families of three earning less than $26,000.
The development is being financed under Mayor de Blasio’s Housing New York plan, through the Extremely Low and Low-Income Affordability program. The site is subject to the requirements of Mandatory Inclusionary Housing, which will guarantee that approximately 25 to 30 percent of all homes will be permanently affordable. HPD will guarantee future control of the land through the use of a remainder interest—a legal tool that will give the city ownership of the property at the end of the initial affordability period, unless the owner agrees to extend the affordability period.
“Through Housing New York, we strive to pair affordable housing development with the dynamic community spaces that neighborhoods need to thrive. The Eliza—fittingly named for one of the earliest supporters of the Inwood library and a champion of literacy and education—weds deeply affordable homes with a beautifully redesigned library and a new pre-K facility that will benefit the Inwood neighborhood for generations to come,” said HPD Commissioner Maria Torres-Springer, in prepared remarks.
The Eliza will also feature community programing through an onsite Activities, Culture, Training Center, which will provide space for education-, health- and wellness-related programs, as well as jobs training and cultural activities. Spanning 4,030 square feet, the pre-K facility will be accessible via a private corridor off of Broadway. Additionally, the three classrooms will be connected to a 2,100-square-foot exterior terrace.
The new Inwood Library will be the same size as the current facility and will include a collection of books and circulating material, digital resources, publicly accessible computers and Wi-Fi access. The design is set to incorporate collaborative work spaces, quiet reading spaces and flexible space to accommodate classrooms for education programs.
The Inwood Library project is part of Inwood NYC, a community-wide comprehensive planning initiative led by the New York City Economic Development Corp. HPD will provide part of the financing needed and the Robin Hood Foundation will provide a $5 million grant. Inwood residents will have access to a temporary library for the duration of construction.
Images courtesy of Fogarty Finger Architecture & Andrew Berman Architect