NYCHA closes on $245M funding deal to build Libeskind’s affordable homes

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The city has finalized a $245 million financing package to
bring to life two new affordable housing developments, including one designed
by world famous architect Daniel Libeskind.

Together, Casa Celina in the Bronx and Atrium at Sumner in Bed-Stuy, will create 393 new affordable apartments for New York seniors.

“Seniors are a top priority for this Administration’s ambitious affordable housing plan,” said HPD Commissioner Louise Carroll. “Casa Celina and Atrium promise to be thriving communities with seniors receiving the support they need to prosper.”

RENDERING OF CASA CELINA

Construction on the 205-unit Casa Celina building at a
vacant parking lot site at NYCHA’s Justice Sonia Sotomayor campus and the
190-unit Atrium at Sumner building on NYCHA’s Sumner Houses campus in Brooklyn
is expected to begin later this month.

The 16-story Casa Celina – named after Justice Sonia
Sotomayor’s mother – will feature 158 studio apartments and 46 one-bedroom
apartments, as well as one two-bedroom superintendent apartment, with 62
apartments set aside for homeless seniors and the remaining 142 apartments
available to households earning at or below 50 percent of Area Median Income.
NYCHA residents will be given preference for 36 of the apartments in the
development.

Located on the corner of Watson Avenue and Thieriot Avenue, the building was designed by Magnusson Architecture and Planning and developed by Xenolith Partners; The Kretchmer Companies; Management LLC; and the not-for-profit Jewish Association Serving the Aging (JASA). Mountco will be serving as the project’s general contractor.

THE ATRIUM AT SUMNER

The Atrium at Sumner in Bedford-Stuyvesant will feature 130
studio apartments and 59 one-bedroom apartments, as well as one two-bedroom
superintendent apartment, with 57 apartments set aside for homeless seniors and
the remaining 132 apartments available to households earning at or below 50
percent of Area Median Income. NYCHA residents will be given preference for 33
of the apartments. The 11-story building is organized around a central atrium
with corridors overlooking a year-round indoor garden on the ground floor.

The Atrium was designed by the world-renowned architecture
firm Studio Libeskind and will be developed by Urban Builders Collaborative,
LLC., RiseBoro Community Partnership, Inc., and Selfhelp Realty Group – The
Melamid Institute for Affordable Housing.

The Atrium at Sumner is designed to Passive House Standards,
resulting in 60 to 70 percent less energy consumption compared to the average
New York City apartment building. The development will also feature a community
garden for residents and outdoor seating adjacent to the building’s entrances.
The Sumner Houses campus’ open space next to the new building will also receive
a new playground, walking paths, lighting and seating.

Permanent financing for the $113 million project at Casa
Celina includes $43 million in HDC bonds, $7.7 million in HDC Extremely Low
& Low-Income Affordability (ELLA) subsidy, $52.7 million in Low Income
Housing Tax Credit (LIHTC) equity, and $9.9 million from other sources.

Permanent financing for the $132 million project at the
Atrium at Sumner includes $41 million in HDC bonds; a $12 million subsidy from
HDC’s Extremely Low & Low-Income Affordability (ELLA) and HPD’s Senior
Affordable Rental Apartments (SARA) programs; roughly $63 million in Low Income
Housing Tax Credit (LIHTC) equity; $3.5 million in Reso A funds from Brooklyn
Borough President Eric Adams, City Council Members Corey Johnson and Robert
Cornegy, and the City Council’s Black & Asian Caucus; $2.2 million from the
Dormitory Authority of the State of New York; $300,000 from the New York State
Energy Research and Development Authority (NYSERDA) and $10 million other
sources.

The New York City Housing Authority (NYCHA); the NYC
Department of Housing Preservation and Development (HPD); and the NYC Housing
Development Corporation (HDC) finalized the financing.

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