NEWS

• Construction begins at Rheingold Senior Residences project in Bushwick, Brooklyn (January 2022)
• Three rent-regulated Glendale apartment buildings undergo $5 million upgrade with new ownership (March 2021)
• Non-profits have critical role to play as affordable housing developers (February 2021)
• Rockabill announces Devine as Principal (February 2021)
• St. Philip Neri Continues to Serve Those in Need (January 2021)
• Goddard Riverside’s Phelps House, a finalist for the New York Housing Conference Community Impact Competition (Dec 2020) (December 2020)
• Stephan Russo joins panel discussion at Homeless Services United Symposium (December 2020)
• Phelps House Refinancing (March 2020)
• NYC Chalks Up $15M Affordable Housing Preservation Deal (April 2019)
• Enterprise, HPD, Rockabill Development, and Selfhelp Community Services Announce $15 Million Deal to Acquire Unregulated Buildings to Preserve as Affordable Housing in Glendale, Queens, New York (April 2019)
• Vincent’s Village Affordable Housing Complex Breaks Ground In Nanuet, Rockland County (April 2019)
• Tim Collins featured on NYHC’s Video Honoring MBD Community Housing Corp. (December 2018)
• $92.7M project completed at low-income apartment complex (June 2018)
• Ribbon-Cutting Ceremony for the Modernization, Upgrade, and Preservation of Fox Hill Apartments (June 2018)
• Partners Close on Project to Preserve 35 Affordable Housing Units in Williamsburg, Brooklyn (July 2017)
• HDC Joins CABS and St. Nick’s Alliance Celebrate the Rehabilitation of 270 Pulaski Street (July 2013)

NYC Chalks Up $15M Affordable Housing Preservation Deal

One of the Glendale apartment buildings. Image courtesy of Enterprise

Publication: Multi-Housing News
By: Greg Isaacson

The New York City Acquisition Fund has provided a $15.1 million loan to acquire and preserve three apartment buildings in Queens as affordable housing, marking the city’s first deal under the Neighborhood Pillars Program that aims to safeguard the affordability of existing buildings.

The loan deal was coordinated by a roster of organizations, including the New York City Department of Housing Preservation and Development (HPD), in concert with privately held Rockabill Development. Rockabill will co-own the properties alongside Selfhelp Community Services, a not-for-profit organization that will provide services for older residents as they age in place and require assistance…

Click here to read the full press release online
Click here to read more about the project on our website