Hi Tim;Thanks for the interest you’ve shown in the project. We are very happy to have received the support of CB-9 for the project and we will use it in the furtherance of our project. HDC does its bond financing twice a year and, having wrapped up December, they are now planning their project list for this June. Together with my partner Alex Goldin and the support of the Chase Community Development Bank, we intend to make our presentation to them later this month. HDC has deferred our project twice previously, so we’re hopeful that the third time is a charm.All the best,Tom
I'm with Tom. I hope this thing goes through and we can start welcoming new neighbors with plates of cookies real soon. Not that the vacant lot and murals don't have their charm of course.
8 comments:
Speaking of construction on that block, any idea what's up with the former K-Dog site? I remember reading here about a catering company moving in but yesterday there was a notice from the city about unauthorized work.
Just walked by the former Kdog and saw work going on and permits posted on the wood boards that prevent us from peeking inside. That said anyone have any additional info on what exactly will be going in there- coffee/bagels? Sandwiches? Prepared foods?
Also is there anything we can do as a community to help the Lincoln Rd developers get their financing so they can move forward already? As lovely as the fading murals are, I am eager to see building begin there! And in the interim is there anything that can be done about the darkness there in the night? When I exit the subway after dark I can't help but feel uncomfortable about the lack of lighting around the subway bc of
This boarded up large space adjacent to it.
The K-Dog cum Blue Roost cum ??? is proceeding full-steam ahead. Don't let the plywood fool you; this is going to be another welcome addition to the 'hood. I'll let you know details just as soon as the fellas give me the green light.
And no, there's nothing we can do to make the State give up the dough. We already did our part, by granting unanimous approval from the Community Board for their plan. I'm confident they'll get it together, but bureaucracy moves at its own pace.
The Chase Community Development bank?
Seems a bit odd for our community
https://www.chase.com/online/commercial-bank/solutions-cdf-bettertomorrow.htm
Glad to see Tom Anderson spearheading the Lincoln Road project. Met him during his Shinnecock days on Union Street in Park Slope. Really good guy.
Dan: How so? It's an 80/20 building with the backing of the state for 20% affordable and 80% just below market. Chase would be the underwriter. All apartments will be part of the state's rent stabilization guidelines. It's actually pretty cool that if you get into this building, you should be able to stay in this building. Not much new construction "luxury housing" has this kind of long-term commitment to residents. Renters can no longer expect that cost-of-living raises will keep pace with rents. I like that programs exist to address that.
But it most definitely ain't public housing, or even cheap housing. The 80% of apartments will be way outside the reach of the median household income around here.
HDC does its bond offering several times during the year - not just their massive offerings in June and December (see nychdc.com).
Not that it matters, but no funding from the state - HDC is a NYC agency (NYSHFA is the related state agency), and the country's largest issuer of multi-family housing bonds.
What can we do to support the development - there must be some decision makers we can help influence?
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