SELFHELP, LONG ISLANDAffordable Senior Housing/ Supportive Housing/
This project is a permanently affordable 45 unit senior residence, located in Long Island. Of the 44 residential one bedroom units, 14 units (30%) will be set aside for frail or disabled homeless seniors, supported by funding through the Empire State Supportive Housing Initiative (“ESSHI”), 8 units will receive Project Based Section 8 subsidies, while the remaining 22 units will be available to seniors earning at or below 60% Area Median Income.
Designed by Studio Daniel Libeskind, and with Selfhelp Community Services, Inc. providing on-site services through the Selfhelp Active Services for Aging Model, the development design incorporates concepts which promote socialization and aging in place. Surrounding a common courtyard terrace, each unit opens to a light filled hallway, with full height windows, directly connecting each resident’s entrance with this amenity.
All of the 44 units are handicap adaptable. The five story building also incorporates Passive House design principles and has significant green and energy efficient features, in line with Enterprise Green Communities and Energy Star Multifamily High Rise programs.
This project was awarded 9% tax credits through HCR in May 2019. Closing on the construction financing occurred in May 2020; equity financing was provided by Hudson Housing Capital; debt financing for construction is being provided by Capital One; and permanent financing will be provided by Community Preservation Corp. through Freddie Mac. The general contractor is Procida Construction Corp. The project has a construction timeline of 20 months.
- Upon completion, this project will create 44 new affordable housing apartments for residents who have special needs or are elderly in Nassau County.
- The project addresses the significant need for housing for those residents with limited or fixed incomes.
- Crucial services for the tenants will be housed in the building and provide for special amenities for the Frail Elderly population it will serve.
- The development aids the client with achieving their mission for their community.
- Consulted the owner on business ideas arising from various areas of the development including project analysis, budget and underwriting expertise.
- Negotiated with State funding agency for the project’s development and financing.
- Assisted in the completion of the necessary funding applications for LIH Tax Credits.
- Negotiated the terms and conditions with the financial partners for the construction and permanent financing including, but not limited to partnership agreements, investor and construction loan documents.
- NYS Division of Housing and Community Renewal: 9% Tax Credit Allocation
- Nassau County: HOME Funds
- Capital One Bank: Construction Loan Financing
- Community Preservation Corporation: Permanent Financing through Freddie Mac
- Hudson Housing Capital: Tax Credit Syndicator
- Weinberg Foundation: Grant Provider
- Studio Libeskind: Architect
- Procida Construction Corporation: General Contractor