FOR IMMEDIATE RELEASE
July 15, 1999
Marketing Begins for Affordable New Homes in Bushwick, Brooklyn
Thanks to Housing Preservation and Development
Continues Community Redevelopment Effort that has already Provided 800 Units of
Homeownership in Bushwick
HPD Commissioner Richard T. Roberts has announced new affordable homes in Bushwick, Brooklyn. HPD has already completed over 800 units in the Bushwick and plans to develop over 400 more units of affordable housing in the area. The 19 homes are three story, two-family units, with an owner's duplex on the top two floors and a rental unit on the ground floor.
"Home ownership plays a fundamental role in stabilizing our blocks, our neighborhoods, our boroughs, and our City," said Commissioner Roberts.
The new units join over 13,500 homes, condos or coops that have been built since 1984 when the City began the Partnership New Homes and Neighborhood Builders programs. Over that period of time, the City has invested more than $161 million in homeownership, which has leveraged a total of $1.2 billion in other government and private financing.
The new homes are part of Evergreen Terrace which is located on Suydam and Hart Streets between Myrtle and Evergreen Avenues. Some homes are on Cedar Street.
HPD's Neighborhood Builders program, which is operated in conjunction with the New York City Housing Partnership, provided Delcor Associates Inc., a local construction firm, with funds to develop Evergreen Terrace. The Neighborhood Builders program provides small, locally-based builders and developers with technical assistance and seed loans necessary to build homes in their communities. The community sponsor for Evergreen Terrace is the Ridgewood/Bushwick Senior Citizen's Council, Inc.
"These homes provide much needed affordable housing, and also show our success in generating private investment to build new homes in New York City," said HPD Commissioner Roberts.
The homes are being marketed to families who earn between $31,809 and $70,950 a year. The average price for an Evergreen Terrace home is $186,000. HPD provided capital funding of $10,000 per unit which was matched by the State. In addition, the City provided the land, appraised at $193,000, for $19,000.
People interested in buying one of the homes should call Robert Lowe of Ridgewood/Bushwick at (718) 366-3800 who will describe the application process.
HPD's mission is to promote quality housing and viable neighborhoods for New Yorkers. The department is the nation's largest municipal housing development agency. Since Fiscal Year 1994, the agency has completed the construction or rehabilitation of nearly 58,000 units of affordable housing.