The New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) joined the Northeastern Conference of Seventh Day Adventists (NEC), Fifth Avenue Committee (FAC), and Mega Contracting to break ground today on Northeastern Towers Annex, a joint venture development in Jamaica, Queens. This new 10-story building will create 159 affordable apartments for very low-income seniors aged 62 years and up. This project is being financed through HPD\u2019s Senior Affordable Rental Apartments (SARA) Program and HDC\u2019s Extremely Low and Low-Income (ELLA) Program.<\/p>\n
\u201cThrough Housing New York 2.0, we committed to put seniors first while working on every front to unlock underused lots and put them to use as affordable housing. Working with non-profit, faith-based, and private partners, this innovative development will pair 159 new affordable apartments for seniors with on-site social services,\u201d said\u00a0HPD Commissioner Maria Torres-Springer<\/b>. \u201cI want to thank our partners at NEC, FAC, HDC, and all our dedicated partners for working with us to make sure that quality, affordable housing is within everyone\u2019s reach.\u201d<\/p>\n
\u201cWith Northeastern Towers Annex, we are delivering on the promise of Housing New York to provide greater stability to our city\u2019s most vulnerable seniors through the creation of deeply affordable housing,\u201d said\u00a0HDC President Eric Enderlin<\/b>. \u201cThis project represents the power of public-private partnership, and I\u2019d like to express my appreciation for the collective creativity and hard work of all involved.\u201d<\/p>\n
This unique project, adjacent to an existing senior low-income apartment building on Guy R. Brewer Boulevard, will include 58 studios, 100 one-bedroom apartments, and 1 two-bedroom superintendent\u2019s apartment. A portion of the apartments will be set aside for seniors with mobility, visual, and hearing impairments, and a portion of the apartments will be reserved for formerly homeless households. Addressing the needs of seniors on fixed or very low incomes, the building will be 100% affordable for low- and very-low income residents while also offering on-site social services provided The Hellenic American Neighborhood Action Committee (HANAC).<\/p>\n
\u201cThis is an important day and a major step in addressing the urgent need for affordable housing in Jamaica,\u201d says\u00a0Council Member Adrienne Adams (D-Jamaica)<\/b>. \u201cNortheastern Towers Annex is an exciting development that will meet many goals as we address the affordable housing crisis and residential needs of older New Yorkers. I look forward to this exciting example of progress in our borough and creating affordable units for vulnerable populations of various incomes.\u201d<\/p>\n
\u201cThe need for affordable housing \u2013 especially for seniors \u2013 in Queens and New York City has never been greater. The development of 159 more new affordable units of housing specifically for seniors on fixed- or very low-incomes is a most welcome addition to Jamaica. Thanks to this unique joint partnership, the new homes and amenities will help support our elders to age gracefully with dignity, and to remain active and engaged in our communities,” said\u00a0Queens Borough President Melinda Katz.<\/b><\/p>\n
In addition to Northeastern Towers Annex\u2019s affordable apartments, the site will include several on-site amenities specifically designed for its senior residents. On-site features will include: a community room, a media room, an exercise and wellness center, social service and office suites, warming pantry and storage, laundry and television lounges on every floor, a library and club room, a rooftop with terrace and separate rooftop garden area, a personal care room, and 90 parking spaces reserved for residents.<\/p>\n
\u201cThe Northeastern Conference of Seventh-day Adventists is proud to stand with our neighbors\u00a0to insure that senior citizens, who have given so much to our community, enjoy safe, clean and affordable housing in their sunset years,\u201d\u00a0says Dr. Daniel Honore, President of the Northeastern Conference of Seventh-day Adventists.<\/b><\/p>\n
\u201cFifth Avenue Committee is thrilled to break ground on Northeastern Towers Annex –\u00a0 our first project in Queens and our first affordable housing exclusively for seniors.\u00a0 This project has been a true partnership with the Northeastern Conference of Seventh Day Adventists from\u00a0inception, and FAC is very excited to be working with our long-time partner Mega,\u201d says\u00a0Michelle de la Uz, Executive Director of Fifth Avenue Committee<\/b>. \u201cWe thank the local elected officials, the City of New York and Wells Fargo for their financial support and investment, and we\u2019re enthusiastic about bringing much needed affordable, senior housing to Jamaica and helping seniors to remain in the community and borough they love.\u201d<\/p>\n
The project was financed through $90.6 million in public and private investment. NYC Housing Development Corporation provided more than $50 million in tax-exempt bonds and an additional $8.7\u00a0million in corporate reserves. NYC Department of Housing Preservation and Development provided more than $13 million in local subsidy. In addition, the project benefits from Low-Income Housing Tax Credits (LIHTC) that generated more than $37 million in tax credit equity from investors through Wells Fargo, who also provided the letter of credit.<\/b>Queens Borough President Melinda Katz provided $1,000,000 in discretionary capital funding from the City of New York.<\/p>\n
\u201cWells Fargo would like to congratulate everyone at Fifth Avenue Committee, NEC, Mega Contracting, HPD, HDC and HUD on this vital project.\u00a0 When complete, the building will provide 159 apartments and on-site services to low income and formerly homeless seniors who are so deserving of a beautiful new building to call home,\u201d says\u00a0Page Travelstead, Senior Vice President at Wells Fargo Bank<\/b>. \u201cOur goal at Wells Fargo is to support long-term economic growth and improve the quality of life for the communities that we serve.\u00a0 We are so grateful that through our involvement in the NE Towers Annex project, we can play a small role in creating a vibrant seniors community in this Jamaica neighborhood.\u00a0 On a more personal note, as a former FAC project manager, I am thrilled to be a financing partner on this project and see all the great work that FAC continues to do throughout Brooklyn and now Queens!\u201d<\/p>\n
Northeastern Towers Annex is expected to be completed in September 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"
The New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) joined the Northeastern Conference of Seventh Day Adventists (NEC), Fifth Avenue Committee (FAC), and Mega Contracting to break ground today on Northeastern Towers Annex, a joint venture development in Jamaica, Queens. This new 10-story building […]<\/p>\n","protected":false},"author":5795,"featured_media":5504,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-5498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-partner-resources"],"yoast_head":"\n