Bloomberg’s New Housing Marketplace Plan Allocates $8.4 Billion for Affordable Housing

By Veronica Grecu, Associate Editor Senior Housing News highlights New York City’s adherence to the national effort to become more green and sustainable. An example is the completion of Serviam Gardens, an affordable housing complex for low- and moderate-income Bronx [...]

Senior Housing News highlights New York City’s adherence to the national effort to become more green and sustainable. An example is the completion of Serviam Gardens, an affordable housing complex for low- and moderate-income Bronx seniors developed by Fordham Bedford Housing Corporation (FBHC).

Phase one of the development, Serviam I, was constructed at a total cost of $20.9 million and includes 83 apartment units meant for low-income seniors who earn less than 50 percent of the area median income. It was completed in 2009 by a joint venture between FBHC, the U.S. Department of Housing and Urban Development (HUD) and the NYC Housing Preservation and Development (HPD). The total development cost for Serviam II was $47.3 million and the 158 units will be occupied by seniors who earn between 28 and 80 percent of the area median income.

The two-tower housing project was designed by OCV Architects who incorporated green features as required by FBHC’s compliance to the Enterprise Green Communities Criteria (EGCC), the national green building criteria that aims at lowered utility costs and increased sustainability while ensuring financial stability for tenants and affordable housing owners alike. The green features include a green roof, a rain water recycling system, energy efficient lighting and cooling systems and a super-insulated building envelope. Apart from the senior apartments, the development also includes recreation space, on-site social services, a library, child-care facilities and parking space.

In other affordable development news, a new 104-unit housing community was opened last week in Brownsville. The Brooklyn Daily Eagle reports that the 13 four-story apartment building development located at 550 Watkins St. is a joint venture between CPC Resources Inc. and the East Brooklyn Churches, with help from HPD and HDC.

The $28.5 million housing development includes 35 one-bedroom, 57 two-bedroom, 11 three-bedroom apartments and an additional super’s unit, as well as other facilities such as on-site laundry and parking space. The apartments are meant for low-income families earning between 50 and 60 percent of the area median income, or as low as $34,550 for a family of three, informs the Brooklyn Daily Eagle.

Both the Serviam Gardens and the Brownsville housing projects were developed under Mayor Michael Bloomberg’s New Housing Marketplace Plan which allocates $8.4 billion for 165,000 units of affordable housing units for 500,000 low-income New York residents.