FOR IMMEDIATE RELEASE
March 22, 2000
Press Contacts: Lisa Bellucci, NYC Partnership: (212) 493-7589
Carol Abrams, HPD: (212) 863-5167
FAMILIES WELCOMED TO NEW AFFORDABLE HOMES IN HARLEM
Affordable Homes Sponsored by the NYC Department of Housing
Preservation & Development and NYC Housing Partnership
Officials welcomed new homeowners today at a ribbon-cutting to celebrate Malcolm Shabazz Gardens, a 123-unit housing development in Harlem.
"Homeownership is the key to stabilizing and preserving neighborhoods. The City is committed to working with communities in all five boroughs to ensure that more of our residents can afford to own homes. Malcolm Shabazz Gardens, with its 41 new three-family homes, is a vital component of Harlem's rebirth," said New York City Housing Preservation and Development Commissioner Richard T. Roberts.
Malcolm Shabazz Gardens, located on 117th and 118th Streets between Malcolm X Boulevard and Fifth Avenue, was constructed under New York City's largest new housing construction program, the Partnership New Homes Program. The developer, Harlem Central Homes, Inc. is The Bluestone Organization Company that has built other affordable homes for New York City residents under the New Homes Program. Subsidies from the City, State and Federal governments allow the homes to be affordable to families with incomes between $35,000 and $70,950. The homes consist of an owner's unit three-bedroom duplex with two baths, finished cellar and landscaped rear yard; a one-bedroom rental unit; and a two-bedroom rental unit.
"As Chair of Community Board #10, I am very happy to see this project come to fruition because it really adds to the revitalization of the Harlem community," said Stanley Gleaton. "It assists Harlem's residents in achieving homeownership."
Masjid Malcolm Shabazz was the community sponsor and assisted with marketing and outreach to the community. Imam Izak-el M. Pasha said, "We thank G-d for the people of this noble community, who are deserving of decent and affordable housing and homes, for their consistent support of good leadership. And we pray that generations of these homeowners would find progress for the good life that they deserve and want."
"State of New York Mortgage Agency (SONYMA) and Affordable Housing Corporation (AHC) are proud to insure and provide grant funds to Shabazz Gardens. The over $2 million in grants will allow even more New Yorkers to become homeowners by making these three-family homes more affordable. These grants are just one example of how the agencies are carrying out Governor Pataki's commitment to create and preserve affordable housing in New York State," Stephen J. Hunt, SONYMA and AHC President and CEO said. "Decent, affordable housing is the cornerstone of a strong community. The grants are investments in the future of New York State and will have positive social and economic benefits today and tomorrow."
"Malcolm Shabazz Gardens is part of the new Harlem Renaissance," said Veronica M. White, President and CEO of the New York City Housing Partnership. "It is great to celebrate with all of our public and private sector partners."
Shabazz Gardens is a Global Resources for Affordable Neighborhood Development (GRAND) deal. The construction lenders on the development were Chase Community Development Corporation and Carver Bancorp, Inc.; the mortgage lenders were Chase Bank and HSBC Bank USA. The total development cost was $16.5 million.
The New York City Housing Partnership works to promote development of affordable housing, revitalization of neighborhoods and expanded participation by local residents and entrepreneurs in the economic benefits of community development. The Housing Partnership was established in 1982 by the City's business and civic organization, the New York City Partnership.
The New York City Department of Housing Preservation and Development's mission is to promote quality housing and viable neighborhoods for New Yorkers. The Department is the nation's largest municipal housing development agency.