Governor Cuomo Announces Completion of New Affordable Housing Development in Brooklyn
The Fountains Phase One Offers 332 Affordable and Energy-Efficient Apartments for Families and Adults with Disabilities
Development Will Ultimately Include Over 1,100 Affordable Homes on State’s Former Brooklyn Developmental Center Site
New York (STL.News) Governor Andrew M. Cuomo today announced completion of the initial phase of The Fountains in Brooklyn, a 6.7-acre mixed-use development complex that will ultimately offer 1,163 affordable homes. Together, the first two completed buildings of the project include 332 affordable apartments and supportive services for people with intellectual and developmental disabilities so they can live independently. The development is being constructed on the site of the State’s former Brooklyn Developmental Center in East New York.
“We have made an unprecedented commitment to address the lack of affordable housing in every corner of New York, but especially in Brooklyn, where the financial hardship caused by the COVID-19 pandemic has been severe,” Governor Cuomo said. “Our aggressive approach to building new developments like The Fountains will provide high-quality, energy-efficient homes and supportive services to those who need them most as we continue to come back from this crisis.”
The Governor’s commitment to providing all New Yorkers with access to safe, affordable housing is reflected in the State’s unprecedented $20 billion, five-year Housing Plan. The plan makes housing accessible and combats homelessness by building or preserving more than 100,000 affordable homes and 6,000 with supportive services.
Designed to provide good quality, affordable homes to low-income households and those in need of supportive services, The Fountains is part of the Governor’s overall strategy to revitalize communities and grow the economy. Since 2011, New York State Homes and Community Renewal has invested nearly $2.5 billion in Brooklyn that has created or preserved 11,800 affordable homes.
The first phase includes a new building at 11629 Seaview Avenue with 65 affordable apartments. Seventeen units will be reserved for adults with intellectual or developmental disabilities who will have access to comprehensive onsite supportive services provided by the Block Institute, Inc. These households will also receive rental subsidies provided by the New York State Office for People With Developmental Disabilities. Ten units will be fully accessible and adaptable for residents with mobility, hearing or vision impairments.
Support for the $23.4 million Seaview Avenue building included an allocation of federal and state Low-Income Housing Tax Credits through New York State Homes and Community Renewal. The New York State Energy Research and Development Authority’s Multifamily New Construction Program awarded $158,600 for this project and also provided a total of $152,840 in NY-Sun incentives, including $53,120 from the Multifamily Affordable Housing Incentive for a 195.48 kW solar system. Additional financing was provided by Bank of America.
Another building, located at 911 Erskine Street, offers 267 affordable apartments for families. Sixty-seven apartments are reserved for adults with intellectual or developmental disabilities who will receive supportive services from the Block Institute and rental subsidies through OPWDD.
911 Erskine Street was constructed under New York’s Climate Bond program to drive the development of affordable housing that has a positive impact on the environment and climate. Both buildings were designed to meet the standards of Energy Star Multifamily High Rise and Enterprise Green Communities programs to achieve maximum energy efficiency. Energy efficient features include high efficiency condensing boilers and heat pumps, Energy Star appliances and photo sensors and timers to control outdoor and site lighting.
Financing for the $86.8 million building on Erskine Street included permanent tax-exempt climate bonds, federal Low-Income Housing Tax Credits and subsidy from HCR. Additional financing was provided by the New York City Department of Housing Preservation and Development.
The Fountains is located close to public transportation, Shirley Chisholm State Park, bike trails and community resources such as grocery stores, parks, schools and other retail establishments.
The decommissioned State property, purchased through Empire State Development’s competitive request for proposal process, is being developed by the Arker Companies. Under the terms of the sale, the Arker Companies paid $10 million for the property, which was previously owned by the Dormitory Authority of the State of New York. The property was part of the former state-run Brooklyn Developmental Center, which closed in 2015.
The Fountains complements Governor Cuomo’s $1.4 billion Vital Brooklyn initiative which is targeting and investing in eight integrated areas, from health care to housing, establishing a new standard for addressing chronic economic and racial disparities in Brooklyn’s high-need communities. The Vital Brooklyn initiative will create 4,000 affordable homes in Central Brooklyn’s neighborhoods.
NOTE: this is NOT the complete release.