Within 18 months, developers BFP Companies have renovated 468 low-income apartments and are developing another 242

East New York’s redevelopment continues to make progress with its affordable housing plan and developers BRP Companies and the New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) celebrated completion of more than half of the 710 newly renovated and newly developed units that are being introduced to the neighborhood. So far, 468 low-income units have been fully redesigned and the company has broke ground on another 242 at Livonia Commons, which is currently under development.

“In many ways, Livonia Commons (L2) and the East New York Resyndication Project represent the multifaceted nature of HPD’s work, both in East New York and across the broader city as a whole,” said HPD Commissioner Vicki Been in a press statement.

In 2013, BRP purchased 63 buildings with 486 affordable apartments for $100 million before renovating the interiors. Since then, $180 million has been invested into East New York and has plans to create 50,000 square feet of community and retail space.

From http://ny.curbed.com/2016/9/24/13041446/east-new-affordable-housing

Advertisements