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NYC Department of Housing Preservation & Development
Press Room

Wednesday, December 2, 2009
MAYOR BLOOMBERG, SENATOR SCHUMER, CONGRESSMAN SERRANO, SPEAKER QUINN AND FANNIE MAE ANNOUNCE HOUSING DEVELOPER LED BY MO VAUGHN WILL PURCHASE TROUBLED SOUTH BRONX HOUSING PORTFOLIO
Mayor Michael R. Bloomberg, Senator Charles E. Schumer, Congressman José E. Serrano, Council Speaker Christine C. Quinn, Deputy Mayor for Economic Development Robert C. Lieber, Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero and Fannie Mae Executive Vice President of Housing & Community Development Ken Bacon today announced that Omni New York LLC – led by former New York Met Maurice “Mo” Vaughn – has been chosen as the successful bidder for the debt on a portfolio of properties in the South Bronx owned by entities of the Ocelot Capital Group. The Ocelot entities, which have allowed the buildings to fall into a state of disrepair, recently defaulted on their mortgage, prompting foreclosure proceedings. To ensure the properties ended up in the hands of a responsible developer that would invest in and maintain the affordability of the units, HPD, Fannie Mae and Deutsche Bank worked collaboratively to identify viable bidders for the mortgages covering 14 of the original 25 buildings. The collateral for the current loan portfolio is made up of fourteen individual properties consisting of 416 units with mortgage debt totaling $23.8 million, which Omni has purchased from Fannie Mae and Deutsche Bank at a reduced price through the bidding process. Omni has committed to invest up to $1 million in emergency repairs and will work to obtain the deed to each of the properties in order to take title and become the long-term owner of each property.




Thursday, November 19, 2009
HPD ANNOUNCES DEVELOPMENT TEAMS TO BUILD 770 UNITS OF NEW MIXED-USE AFFORDABLE HOUSING AT THREE SITES IN SOUTH BRONX
New York, NY - New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero announced today the selection of the developers who will construct mixed-use affordable housing on the last large city-owned tracts of land in the Melrose Commons North Urban Renewal Area (URA), the same neighborhood that became notorious for massive private-sector disinvestment and arson during the 1970s. The developers were chosen through a competitive Request for Proposals (RFP). Phipps Houses Group was selected to build approximately 216 units of lower-income housing for Site A, Blue Sea Development and WHEDCo were chosen to build approximately 290 mixed-income units on Site B, and the team of CPC Resources, The Briarwood Organization and The Bridge will develop RFP Site C with a total of appropriately 257 units of affordable housing.




Monday, November 9, 2009
HPD ANNOUNCES $28.7 MILLION IN FEDERAL STIMULUS FUNDING TO FINANCE MORE THAN 600 UNITS OF AFFORDABLE HOUSING IN NYC
New York, NY - New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero today announced the recipients of the agency’s second round of funding from the American Recovery and Reinvestment Act’s Tax Credit Assistance Program (TCAP). $28.7 million in federal TCAP funds will be distributed to ten (10) developments in New York City to help finance the construction or rehabilitation of approximately 604 units of affordable housing in the Bronx, Brooklyn, and Manhattan. Earlier this year, New York City became the first City in the nation to begin construction of new affordable housing using TCAP funds. Building affordable housing in neighborhoods across New York City is a central component of the Bloomberg Administration’s Five Borough Economic Opportunity Plan to create jobs for New Yorkers today, implement a vision for long-term economic growth and build affordable, attractive neighborhoods.




Monday, November 2, 2009
Homeownership Opportunities Come to the East Concourse Section of the Bronx
NEW YORK, NY, October 30th, 2009 – Today NYC Development Corporation (HDC) President Marc Jahr, Bronx Borough President Ruben Diaz, Jr. and Vincent Riso from the Briarwood Organization were joined by Daniel Martin from the Housing Partnership Development Corporation, Marian Zucker, Executive Vice President of the New York State Affordable Housing Corporation Fund (AHC) to celebrate the grand opening of The Solara, also known as Grant Avenue Co-op Apartments. The creation of affordable housing in neighborhoods across New York City is part of the City's Five Borough Economic Opportunity Plan to create jobs for New Yorkers today; and implement a vision for long-term economic growth resulting in affordable, attractive neighborhoods.




Thursday, October 29, 2009
HPD, HDC, RICHMAN GROUP DEVELOPMENT CORP, AND ELECTED OFFICIALS CELEBRATE GROUND BREAKING FOR MIXED-INCOME AFFORDABLE APARTMENTS IN CENTRAL HARLEM
Harlem, NY - New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero and New York City Housing Development Corporation (HDC) President Marc Jahr joined, City Councilwoman Inez E. Dickens, Manhattan Borough President Scott Stringer, Richman Group Development Corporation President Kristen Miller, and Maria Barry of Bank of America Merrill Lynch to celebrate the ground breaking for The Balton and Douglass Park. The two new apartment buildings will bring a total of 226 mixed-income units to an almost full block site on West 127th and 128th streets in Central Harlem, and will create an estimated 1,050 construction related jobs. The projects are among the first in the country to start construction utilizing the Tax Credit Assistance Program (TCAP) funds, which were allocated to New York State under the American Recovery and Reinvestment Act of 2009. The Balton and Douglass Park projects are being developed on formerly city-owned land through the competitively bid Cornerstone Program, an HPD multi-family new construction initiative. Building affordable housing in neighborhoods across New York City is a central component of the Bloomberg Administration’s Five Borough Economic Opportunity Plan to create jobs for New Yorkers today, implement a vision for long-term economic growth and build affordable, attractive neighborhoods. Also attending the ground breaking were State Senator Bill Perkins and State Assemblyman Keith Wright.




Tuesday, October 27, 2009
HPD, HDC, BLUE SEA DEVELOPMENT, AND BRONX BOROUGH PRESIDENT DIAZ CUT RIBBON AT GREEN, STATE-OF-THE-ART AFFORDABLE HOMES IN SOUTH BRONX
Bronx, New York - New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero, New York City Housing Development Corporation (HDC) President Marc Jahr and Bronx Borough President Ruben Diaz Jr. joined Les Bluestone and Avery Seavey of Blue Sea Development Co. for a ribbon cutting ceremony today in the South Bronx to unveil the newly completed Eltona. The development is a five-story, 71,640-square-foot building with 63 rental apartments for families whose incomes are below 60 percent of the area median income ($46,080 for a family of four). This smoke-free, state-of-the-art development incorporates innovative and eco-friendly components such as rooftop energy generating wind turbines. Residents of the Eltona will be participating in research conducted by the Mount Sinai School of Medicine to track the health of families suffering from asthma who live in a “green building.” Also attending the ribbon cutting today were Eltona residents and representatives of New York State Energy Research and Development Agency (NYSERDA), Wildcat Service Corporation and Mt. Sinai School of Medicine.




Saturday, October 24, 2009
MAYOR BLOOMBERG BREAKS GROUND ON MAJOR NEW SUPERMARKET AT ARVERNE BY THE SEA DEVELOPMENT ON THE ROCKAWAY PENINSULA
Mayor Michael R. Bloomberg, State Senate President Pro Tempore Malcolm A. Smith, Housing Preservation and Development Commissioner Rafael E. Cestero and United Food and Commercial Workers Union Local 1500 Executive Vice President Anthony Speelman broke ground today for a major new supermarket at the Arverne by the Sea development complex on the Rockaway Peninsula. The $23 million, 55,000-square-foot Stop & Shop supermarket will be located on Rockaway Beach Boulevard between Beach 73rd and Beach 69th Streets. It will be part of the City’s Arverne by the Sea development, which will include 2,300 units of affordable and market-rate housing, parkland, a new school, and 270,000-square-feet of commercial retail space. The supermarket will create 200 construction jobs over the 16 months it will take to build, and, once complete, it will employ 100 full-time and part-time workers. As part of the City’s 2008 “Going to Market” study, Arverne was found to have a high need for more supermarkets. The announcement took place at the Arverne by the Sea development on Spinnaker Drive.




Thursday, October 1, 2009
2009/2010 "HEAT SEASON" BEGINS TODAY: HPD ENFORCES LAWS REQUIRING BUILDING OWNERS TO PROVIDE HEAT TO TENANTS
New York, NY - New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero today reminded residential building owners of their legal obligation to provide tenants with hot water year-round and heat when the outdoor temperature warrants it.




Tuesday, September 29, 2009
HPD COMMISSIONER CESTERO JOINS BRONX PRO REAL ESTATE MANAGEMENT TO CELEBRATE OPENING OF 90 NEW UNITS OF “GREEN” AFFORDABLE HOUSING FOR BRONX RESIDENTS
Bronx, NY - New York City Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero joined Bronx Pro Real Estate Management President Peter Magistro, today to celebrate the opening of 1085 Washington Avenue Apartments, a new 90-unit affordable housing development that features numerous elements that help the building and its residents contribute to a greener, more sustainable New York City. One of these elements is a 1,850-square-foot green roof top garden. Other distinguished in attendance included Enterprise Community Partners, Inc.’s Vice President and New York City Office Director Abby Jo Sigal, Banco Popular Regional Executive, Michele F. Imbasciani, and DreamYard’s Co-Director Jason Duchin. DreamYard is the anchor tenant of 1085 Washington and the largest arts education provider in the Bronx reaching 8,500 K-12th grade students annually. Today’s celebration also marks the opening of their Art Center. Creating affordable housing that utilizes green and environmentally friendly initiatives in communities across New York City is part of the City's Five Borough Economic Opportunity Plan to create jobs for New Yorkers today, implement a vision for long-term economic growth and build affordable, attractive neighborhoods.




Saturday, September 26, 2009
HPD AND HABITAT FOR HUMANITY CUT RIBBON AT NEW AFFORDABLE, ECO-FRIENDLY CONDOS IN BROWNSVILLE, BROOKLYN
Brooklyn, NY – New York City Department of Housing Preservation (HPD) and Development First Deputy Commissioner Douglas Apple joined Habitat-NYC Executive Director Josh Lockwood today at the ribbon-cutting for the Atlantic Avenue Residences located in the Ocean Hill section of Brownsville, Brooklyn. The project is comprised of three four-story walk-up condominium apartment buildings with a total of 41 condominiums affordable to low-income families. Thanks to the environmentally friendly construction, homeowners in the Atlantic Avenue complex will save an estimated 30 percent in utility bills and will enjoy the health benefits of green building. Joining the festivities were some of the almost 10,000 volunteers who worked together to build these homes, funders who provided financial support, faith and community leaders, and elected officials who made the new homes possible. Other distinguished guests included Brooklyn Borough President Marty Markowitz, Assemblyman William Boyland, Jr., Brooklyn Community Board 16 District Manager Viola Greene-Walker, Luke Falk of the New York State Energy Research & Development Authority (NYSERDA), Marilyn Gelber of the Independence Community Foundation and Chairman and CEO of Southern Wine & Spirits Harvey Chaplin.



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