Community organizations RiseBoro Community Partnership and St. Nicks Alliance were selected by the Department of Housing Preservation and Development as developers for a 100-percent affordable housing project on a city-owned, vacant lot in Bushwick, CityLand reports.
The City Planning Commission approved on Wednesday an application by HPD for the construction of a new affordable 20-unit building at 63 Stockholm Street. Both Brooklyn Community Board 4 and Brooklyn Borough President Eric L. Adams issued favorable recommendations for the application.
The two nonprofit developers plan to construct a four-story building on the 7,500-square-feet lot that will yield 20 affordable rental units. Four of these units will be available at 37-40 percent of the area median income, seven units at 47-50 percent AMI, and nine units will be made available at 77-80 percent AMI. Estimated monthly rents will range between $524 to $1,749, depending on the size of the unit.
The building will be constructed in compliance with the city’s sustainability standards and feature solar shading, wall thicknesses and airtightness, low voltage equipment, low flow appliances, and heat capture and air source heat pumps. These features will not only reduce the building’s carbon footprint but will also bring down the cost of utilities, which will increase the affordability for its tenants.
For the construction of the building, RiseBoro Community Partnership and St. Nicks Alliance plan to hire M/WBE contractors. Additionally, the two organizations will offer their workforce development programs to give preferential hiring to local employees. The architect on record is STAT Architecture.
Upon the project’s completion, the two organizations will be 50/50 owners of the building.