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NYC Department of Housing Preservation & Development
Press Room

FOR IMMEDIATE RELEASE

April 25, 2003

Press Contact:
Ms. Gina Dobbs
HCCI, Inc.
(212) 283-1377 ext. 37

HCCI DOES IT AGAIN!

-- Newly Renovated Buildings on Once Vacant Block of West 148th Street in Harlem Now Home to 100 Families Thanks to Successful Public/Private Partnership --

Representatives of Harlem Congregations for Community Improvement, Inc. (HCCI), the New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) joined developers, BFC Construction Inc. and L&M Builders, LLC; elected officials, community leaders and tenants today to celebrate the ribbon cutting for Amy Gladys Farrell Gardens, a new mixed-income, affordable rental housing development at 202-218 West 148th Street in Harlem.

Once seven contiguous vacant city-owned buildings, Amy Gladys Farrell Gardens now consists of 100 residential housing units. The development is the second of three developments to be completed on West 148th Street between Adam Clayton Powell, Jr. and Fredrick Douglass Boulevards through HPD's Vacant Building 2000 Program. Developers BFC Construction and L&M Builders, who were chosen through a competitive "Request for Proposal" process, are transforming a once blighted block through the rehabilitation and new construction of 290 rental and cooperative apartments. Completion of the entire development is expected by December 2003. HCCI, a long time advocate for saving the West 148th Street buildings, is an equity partner on two of the three sites now undergoing rehabilitation.

HCCI Chairman, Reverend Canon Fredrick B. Williams stated, "Today we renew, reclaim and rebuild our community and restore a piece of Harlem's heritage for future generations."

HPD First Deputy Commissioner John Warren said, "Amy Gladys Farrell Gardens demonstrates the effectiveness of public private partnerships in transforming once derelict vacant buildings to attractive and affordable safe housing. Working together with our private sector partners, the city has invested over $1 billion to create or rehabilitate more than 40,000 homes and apartments in Harlem since 1987."

"HDC has committed nearly $27 million to revitalize this block on West 148th Street," stated Charles Brass, HDC President. "We are proud to have provided the financing to create affordable housing for a range of low, moderate and middle-income families."

Amy Gladys Farrell Gardens is the first development to receive funding through HDC's newly created Mixed-Income financing program. Under this program 20% of the apartments are reserved for low-income households earning up to 60% of the City's median income, or $31,400 for a family of four. The remaining units are reserved for moderate to middle-income households. Monthly rents range from $425 for a studio to $1,450 for a three-bedroom unit.

HDC provided $10 million of construction and permanent financing, to the Amy Gladys Farrell Gardens development, with an additional $1 million from the Empire State Development Corporation. Additional equity of $4.6 million was raised through the sale of tax credits to WNC & Associates.

Noting that the development is named in honor of his mother, Assemblyman Herman "Denny" Farrell, Jr. said, "It gives me great joy and pleasure to see that these new housing accommodations will the bare the name of my mother, Amy Gladys Farrell."

"None of this remarkable transformation would have been possible without the collaboration and support of Assemblyman Herman Denny Farrell, Jr. and HPD and HDC who continue to demonstrate their commitment to creating safe and affordable housing in the Harlem community," said Lucille L. McEwen, President/CEO of HCCI.

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