Low-Income Affordable Housing Project Underway in Brooklyn
- Apr 13, 2015
By Veronica Grecu, Associate Editor
Work is now underway on a new supportive housing development in Brooklyn’s Ocean Hill neighborhood.
The housing project, called the Henry Apartments, is being constructed by a joint venture between Alembic Community Development and Services for the Underserved (SUS)—a nonprofit organization that supports veterans and individuals and families facing a wide range of challenges, from homelessness to physical and mental disabilities—working in partnership with the New York City Department of Housing Preservation and Development (HPD) and New York City Housing Development Corporation (HDC).
According to an official statement announcing the start of construction, the total development cost of the Henry Apartments is $61.9 million, with financing coming from Mayor Bill de Blasio’s Housing New York: A Five-Borough, 10-Year Housing Plan, as well as HDC and HPD grants. Richman Housing Resources will act as tax credit syndicator and Wells Fargo will act as lender.
Located at 768-770 Decatur St./1696-1712 Broadway, Henry Apartments will sit on a long vacant land formerly owned by the city. As previously reported by Brownstoner, the site is immediately close to Henry Distributors, a seller of hardware and building materials. Allegedly, business owner Stan Henry is a partner in the construction project along with Alembic Community Development.
The mixed-use project consists of two, six-story buildings (Building A and Building B) that will offer 134 affordable housing units. According to official information, 78 units will be set aside for formerly homeless families and individuals, while the remaining residences will be occupied by extremely low- and low-income individuals earning from $29,400 to $50,340 annually. Renters will pay only 30 percent of their monthly income toward rent payments.
Amenities at Henry Apartments include laundry facilities, building elevators and below-grade bicycle storage. Each building will have its own urban farming area, as well as landscaped outdoor space with seating and tables.
Henry Apartments will also include 7,000 square feet of street-level commercial space which most probably will be occupied by SUS.
Rendering via SUS on Flickr