TODAY’S DEAL: Boston Capital Invests Over $7M in 53-Unit Affordable Housing Community in Harlem

By Anuradha  Kher, Online News Editor New York– Boston Capital has invested $7,392,761 in Harriet Tubman House Apartments (pictured), a to-be-built, 53-unit multifamily development in Harlem, N.Y. The general partner is West Harlem Group Assistance Inc. (WHGA). “Boston Capital is excited to be involved in the rehabilitation and production of much-needed affordable housing in Harlem, expanding…

By Anuradha  Kher, Online News Editor New York– Boston Capital has invested $7,392,761 in Harriet Tubman House Apartments (pictured), a to-be-built, 53-unit multifamily development in Harlem, N.Y. The general partner is West Harlem Group Assistance Inc. (WHGA). “Boston Capital is excited to be involved in the rehabilitation and production of much-needed affordable housing in Harlem, expanding the options available to individuals and families with low- to moderate-incomes,” says Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital. Harriet Tubman House Apartments will include the rehab of two existing buildings that formerly served as a homeless shelter, and the construction of one new building, which will be joined with one of the two existing structures. The development will feature 53 units and will include two studios, 13 one-bedroom, 26 two-bedroom and 12 three-bedroom units. Amenities will include 1,500 sq. ft. of community space featuring a community room and laundry facilities. The development will offer on-site maintenance staff, a common sixth floor roof deck, a meeting space with a kitchen, a pantry and recreation area for residents. The development will target families at 60 percent or less of the Area Median Income (AMI). Additionally, 16 (30 percent) of the development’s units will be reserved for formerly homeless persons or families. These households will be referred to the property by the City departments of human and social services, as well as from transitional housing facilities run by affiliates of WHGA.

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