New York, NY – October 23, 2008 – (RealEstateRama) — Fifth Avenue Committee (FAC) was joined by the City’s Department of Housing Preservation & Development (HPD), Brooklyn Borough President Marty Markowitz, Councilmember Bill de Blasio, and local elected officials and housing advocates today to break ground on a major new affordable, supportive housing development in the South Park Slope neighborhood of Brooklyn.
The five-story building at 575 5th Avenue will house 49 affordable, supportive residential studio units—60 percent of which will be housing for the formerly homeless, and 40 percent of which will be affordable to low-income adults. The building – which will be built where a City-owned parking lot once stood – will also have 1,500 square feet of ground-floor retail space, and is designed to qualify as a LEED Gold development by using environmentally friendly materials and energy efficient mechanicals and building systems.
“This project is a major step forward to keeping this neighborhood and Brooklyn affordable for years to come, and to helping those who need affordable housing the most secure a productive future,” said Michelle de la Uz, Executive Director of Fifth Avenue Committee. “We are proud to have led this project to fruition, and are thankful for the support of the City’s Department of Housing Preservation & Development, Mayor Bloomberg, our local elected officials – especially Council Member de Blasio – Community Board 7, and local residents.”
“HPD’s Supportive Housing Loan Program has funded more than 3,000 supportive housing units citywide since Mayor Bloomberg took office in 2002,” said HPD Assistant Commissioner Tim O’Hanlon. “The City will continue to work with organizations like the Fifth Avenue Committee and our local representatives to create more housing developments that offer critical services to our vulnerable populations so they can resume healthy and productive lives. These developments also provide affordable housing to local, hardworking households that want to remain in the communities they helped to create.”
The building’s units will be affordable to residents making at or below 60 percent of the US Department of Housing and Urban Development’s (HUD) Income Limits, or the equivalent of $29,000.
Once completed, supportive services in the building will be operated by the Center for Urban and Community Services. The development was designed by the award-winning firm Amie Gross Architects. The completion of construction is anticipated in late 2009.
For more information on FAC and our affordable housing opportunities please see our website at www.FifthAvenueCommittee.org
