|
|
|
|
Brooklyn's Progress
March 2001 Borough President Howard Golden welcomes Rafael and Maria Mulero on Thursday, February 8, 2001, to their new apartment, one of twenty units, at the newly redeveloped Sullivan Street Apartments, 46 Sullivan Street, Red Hook. Sullivan Street Apartments is the site of the former Sullivan Hotel constructed in the early 1900’s for the use of longshoremen visiting Red Hook. In the last 20 years the Sullivan Hotel stood vacant and became a community eye-sore. The project to build new housing consisted of rehabilitation of the building into 20 class A multiple dwellings and approximately 3,000 square feet of office space which will be leased to a qualified community organization. Each apartment has been renovated with entirely new systems including new sheetrock, kitchens and baths, windows, roof and exterior. A side yard will provide open space for recreation. The Borough President said, “I congratulate and commend the developer of this site, Higher Ground Limited Partnership, and Strategic Urban Solutions, for their fine work in giving new life to what a short time ago was an unused building. I also wish to thank Community Board Six and the Red Hook Tenants Association for their help”. The Borough President continued, “The development of more affordable housing is one of our most important goals in Brooklyn. What we see at Sullivan Street is a fine example of what can be accomplished through creative initiatives in housing development”. “We’re so thrilled this day has come”, said Craig Hammerman, District Manager of Community Board Six. “Projects like the Sullivan Street Apartments bring us closer to realizing the community’s goals as articulated in the 197-a Plan. Red Hook needs affordable housing options. Borough President Golden brought leaders from the neighborhood, the development community and government agencies together. Working together we turned a problem site into a welcome sight in Red Hook.” The opportunity to greet tenants was also extended to other elected and community leaders who represent the area. The project was developed under the Small Homes Loan Program of the Office of Development of NYC Department of Housing Preservation and Development. Under this program Higher Ground Limited Partnership received low interest rate loans from Capital Budget funds as well as the Brooklyn Borough President’s discretionary fund. Fleet Bank participated as construction loan lender and Fleet Securities as tax credit syndicator. This project continues Borough President Howard Golden’s commitment to implement Brooklyn Community Board 6’s 197-a Plan adopted in 1996, which focuses on creation of new housing units in the area. The project is among several of the Borough President’s housing initiatives targeting low- and market-rate housing in the borough. The developer, Higher Ground Limited Partnership, is a partnership of The Arker Companies, based in Woodmere, New York, and Greg O’Connell, a local developer who purchased the former Sullivan Hotel to create additional housing for the community. Alex Arker, who led the Higher Ground development team said, “Higher Ground and the Arker Companies are committed to building affordable housing and this is one of several projects we have developed in the Borough of Brooklyn. We’re grateful for the support of the Borough President and all the area’s leaders and representatives.” The developer has provided substantial equity under the Federal Low Income Tax Credit Program. Under this program all of the apartments at Sullivan Street are to be rented to persons with incomes at or less than 60% of NYC Median Income (which is currently $56,200 for a household family of four). Rents for a one-bedroom apartment are $535 and $644 for a two-bedroom apartment. All of the units have been rented and full occupancy is expected by March 2001. The units have been marketed under required HPD guidelines, which mandate a lottery selection pursuant to an advertising campaign in citywide and local newspapers. In addition, a direct mailing reached community based organizations within the Community District. Exterior signage on the building advised passers-by where to request applications as well. Higher Ground Limited Partnership received approximately 1,000 applications for 20 units. After receiving the applications Higher Ground LP recorded all applications and selected twenty winners with HPD supervision. |
|
Join the Chamber
