Probably the most greatest inexpensive housing traits in Coney Island will convey 1,300 much-needed houses to the network upon of completion

BROOKLYN, N.Y., Oct. 29, 2024 /PRNewswire/ — Lately, Space Democratic Chief Hakeem Jeffries, together with Pristine York Town Officers joined BFC Partners to honour the magnificent opening of 1607 Surf Street, a untouched inexpensive housing construction within the middle of Coney Island, Brooklyn. Advanced in partnership with, L+M Development Partners LLC. and Taconic Investment Partners, the newly built development, designed by means of S9 Architecture and Engineering, brings 376 100% inexpensive apartment devices to the network, in addition to 11,000 sq. ft of retail range, 9,000 sq. ft of network range, and a 2,500-square-foot number one help facility operated by means of NYC Condition + Hospitals.

The improvement, a part of the second one segment of BFC Companions’ 3 segment Coney Island undertaking, offer fashionable, inexpensive housing choices and crucial products and services to the community. The ten-story development was once made imaginable during the backup of a number of key town systems, together with the Pristine York Town Branch of Housing Preservation and Construction (HPD), the Pristine York Town Housing Construction Company’s (HDC) Extraordinarily Low & Low-Source of revenue Affordability (ELLA) Program and Voluntary Inclusionary Housing Program. Financing was once supplied by means of Wells Fargo.

“12 years ago, our community was hit hard by Superstorm Sandy on this very day. But Coney Island is a resilient community, and we know that a setback is nothing more than a setup for a comeback,” stated Space Democratic Chief Hakeem Jeffries (NY-08). “Superstorm Sandy was a setback, but the Coney Island community continues to come back. This affordable housing development will ensure that low-income families, working families and moderate-income families in this community can remain here and continue to make the Coney Island neighborhood one of the greatest in the world.”

“We are thrilled to welcome residents to 1607 Surf Avenue (formerly referred to as Coney Island II), marking a significant milestone in our ongoing efforts to positively impact communities and build quality affordable housing in New York City,” stated Winthrop Wharton, Spouse, BFC Companions. “The addition of 376 much-needed homes at this building is a key step in our broader vision to deliver 1,300 homes by the final phase of the project. This highlights the strength of public-private partnerships and our dedication to delivering vital housing and resources to the community.”

This marks BFC Companions’ inaugural undertaking in Coney Island, solidifying their popularity as one of the lively inexpensive housing builders. The undertaking is split into 3 stages: Coney Island I (2926 West 19^th Boulevard), II (1607 Surf Street), and III (1709 Surf Street). The 3 constructions will jointly serve 1,300 inexpensive housing devices. Moreover, the mixed-use construction will component a 2,500 square- bedrock NYC Condition + Hospitals number one help facility. Each and every development additionally comprises designated devices particularly for previously unhoused Pristine Yorkers.

Situated similar the Stillwell Street subway station the place the B, D, F, Q, and N traces converge, the untouched development supplies citizens with direct and handy get right of entry to to all portions of Pristine York Town. Moreover, it supplies BFC Companions with an street to backup the Town and Order’s targets for extra transit-oriented construction.

“The second phase of the Coney Island mixed-use development delivers hundreds of new affordable homes, along with a new primary care facility that will further improve healthcare access in the neighborhood,” stated Eric Enderlin, President, HDC. “Amid our city’s unprecedented housing shortage, HDC is proud to join our partners in financing projects like Coney Island Phase II to meet the urgent housing needs of New Yorkers.”

“We are proud to be part of the partnership that will bring 1,300 new affordable apartments to iconic Coney Island,” stated HPD Commissioner Adolfo Carrión, Jr. “Investing in 1607 Surf Avenue is part of a broader strategy to build more housing in every neighborhood, embrace creative, sustainable approaches to confront the housing shortage, and improve the quality of life of the host community.”

“I commend BFC Partners for reaching this important milestone in Phase II of its Coney Island project,” stated Council Member Justin Brannan. “As a native New Yorker dedicated to this city and particularly to this borough, I’m thrilled to witness these buildings taking shape and providing affordable housing for New Yorkers, including those who were previously unhoused.”

“On behalf of the NYS Assembly, I welcome Coney I, II and III at 1607 Surf Avenue. This development will provide living options for people with limited finances. Thank you BFC Partners for developing 100% affordable housing, a primary care facility, retail and community space in the Coney Island area,” stated Meeting Member Alec Brook- Krasny, NYS forty sixth Meeting District.

“We are pleased that BFC has 100% affordable units for Coney Island II,” stated Jeff Sanoff, Society Board 13 Chairperson. “We welcome the new residents to our neighborhood and hope they will be involved with the community.”

“Wells Fargo congratulates BFC Partners, L+M Development Partners and Taconic, on the completion of the Coney Island Phase 2 affordable housing development. This project represents a significant step forward in providing much needed affordable housing to the area and contributing to community revitalization while also enhancing the quality of life for residents,” stated Web page Travelstead, Managing Director, Society Lending and Funding, Wells Fargo. “Through our long-standing partnership with BFC Partners, Wells Fargo remains committed to enhancing community development and affordable housing.”

“On behalf of our partners at Taconic and Newmark, we are proud to be a part of the addition of much needed affordable housing in Coney Island,” stated Charles Bendit, co-Founder and co- Government Officer, Taconic Companions. “We have been part of this story of neighborhood growth since 2004 and are happy to see it continuing with the addition of this great project.”

“We are thrilled to celebrate the opening of Phase 2 of the Coney Island project. Now, combined with Phase 1, more than 820 families can access affordable housing in this iconic Brooklyn neighborhood. L+M is proud to continue our partnership with BFC Partners and Taconic Investment Partners to deliver the Coney Island project and bring vital resources to the community, such as the 2,500 square- foot NYC Health + Hospitals primary care facility in Phase 2 and the 6,400 square-foot New York Human Resource Administration office in Phase 1,” stated Elaine Braithwaite, Managing Director, L+M Construction Companions.

“We’re excited to see the development team bring essential housing to our community,” stated Donna Value, a Social Provider Supplier, RiseBoro Home4Good Program. “This initiative will greatly help us fulfill our mission of ensuring long-term housing stability for individuals recently transitioned from homelessness, by providing economic and housing support at Coney Island II.”

Refer to a hyperlink to photographs of the development right here: Link to photos.

About BFC Companions
BFC Companions is a full-service, actual property construction company that creates community-first, city construction answers. Since 1984, BFC has been at the vanguard of creating top constituent inexpensive, mixed-income, and marketplace price housing. We’re devoted to revitalizing communities and making improvements to the lives of our citizens and neighbors. As leaders within the ground, our executive, monetary, and network companions search us out to assistance get started untouched systems and adopt difficult initiatives. For more info, please consult with: https://www.bfcnyc.com/

The Pristine York Town Branch of Housing Preservation and Construction (HPD) promotes constituent and affordability within the town’s housing, and variety and power within the town’s neighborhoods – as a result of each and every Pristine Yorker merits a defend, inexpensive playground to reside in a local they love. We preserve development and resident protection and fitness, build alternatives for Pristine Yorkers thru housing affordability and have interaction Pristine Yorkers to form and maintain community power and variety. HPD is entrusted with pleasing those targets during the targets and techniques of Housing Our Neighbors: A Blueprint for Housing and Homelessness, Mayor Adams’ complete housing framework. To be told extra about what we do, consult with nyc.gov/hpd and fix with us on Fb, Twitter, and Instagram @NYCHousing. 

The Pristine York Town Housing Construction Company (HDC) seeks to extend the availability of multi-family inexpensive housing, stimulate economic expansion and revitalize Pristine York Town’s neighborhoods. We’re charged with serving to to finance the initiation and preservation of inexpensive housing for Pristine Yorkers and likewise handover as the important thing financing spouse within the rehabilitation of our town’s community housing conserve underneath the NYCHA Everlasting Affordability Loyalty In combination (PACT) initiative. Because the people’s greatest municipal Housing Finance Company, HDC persistently ranks a number of the people’s supremacy issuers of loan income bonds for inexpensive multi-family housing. For supplementary data, consult with www.nychdc.com and apply us on LinkedIn.

SOURCE BFC Companions

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