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NYC Department of Housing Preservation & Development

FOR IMMEDIATE RELEASE
Friday, April 23, 2010

Eric Bederman 212-863-5176


HPD COMMISSIONER CESTERO ANNOUNCES SELECTION OF TNS DEVELOPMENT GROUP TO BUILD 240 UNITS OF AFFORDABLE HOUSING AT GREENPOINT HOSPITAL SITE

Mixed Income Affordable Development to Include Housing For Low-Income Senior Citizens 

New York, NY - New York City Department of Housing Preservation and Development (HPD) Commissioner Rafael E. Cestero announced today that TNS Development Group, Ltd., has been selected to develop affordable housing at the Greenpoint Hospital site, the largest of the public sites committed to by the Bloomberg Administration as part of the Greenpoint-Williamsburg rezoning. The site which consists of a 59,600-square-foot vacant City-owned parcel and  a vacant 4-story structure that formerly served as a nurses’ residence, is located on Maspeth Avenue between Kingsland Avenue and Debevoise Avenue in Brooklyn’s Greenpoint-Williamsburg neighborhood. The developer, chosen through a competitive Request for Proposal (RFP) process, will build a total of 240 affordable units as part of Mayor Bloomberg’s New Housing Marketplace Plan (NHMP). Launched in 2004 with the goal of creating and preserving 165,000 units by 2014, the NHMP is the largest municipal affordable housing effort in the nation. To date, nearly 100,000 affordable homes have been financed across the five boroughs.

 
“In the face of drastic shifts in the housing market that have upended the plans of so many other municipalities, we continue to move forward with our commitment to create this much-needed affordable housing in the Greenpoint-Williamsburg community,” said HPD Commissioner Cestero. “TNS Development brings a solid track record of success to this venture, and as a partner in past projects they have demonstrated a commitment to creating quality affordable housing here in New York. The redevelopment of the Greenpoint Hospital site is a key project in our efforts to increase the affordable housing stock in this community, and it brings us closer to our overall goal of creating a more affordable and sustainable city for all New Yorkers.”

 
The development plan for Greenpoint Hospital calls for the new construction of an eight-story building containing approximately 170 affordable units for low- and moderate-income families, and the rehabilitation of the former nurses’ residents with approximately 70 units to be devoted to low-income senior citizens. Ground floor commercial space, a senior care facility and accessory parking will also be provided. The affordable housing in this mixed-income development will be available to families earning below 40% AMI and up to 125% AMI. 40% AMI is equal to an annual household income of $30,750 for a family of four, and 125% AMI is equal to an annual household income of $96,000 for a family of four. The senior housing is estimated at just below 40% AMI.

 
“In our twenty year history, TNS and Great American have always taken great pride in providing meticulously designed, high quality affordable housing to New York City’s residents,” said Samuel G. Gaccione, Executive Vice President of TNS Development Group Ltd. and Great American Construction Corp. “We are thrilled with the opportunity to provide over 200 new units of affordable housing in the Greenpoint section of Brooklyn, and  we look forward to working with the local community, HPD, and our partner on this project, Lemle & Wolff.”
 

TNS Development Group, Ltd. was selected as the developer from among several competitive RFPs submitted to HPD for the site. The selection was based on an evaluation of the financial feasibility of the proposal, affordability of residential units, quality of architectural design, development and management experience as well as other factors consistent with the qualifications outlined in the RFP. 

 
Under the NHMP, the City has financed the construction of more than 37,200 new homes and the preservation of more than 62,700 units of affordable housing in the five boroughs with nearly 24,130 units financed in Brooklyn.


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NYC Department of Housing Preservation and Development (HPD):
HPD is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and viable neighborhoods for New Yorkers. It is responsible for implementing Mayor Bloomberg’s New Housing Marketplace Plan to build and preserve 165,000 units of affordable housing by 2014. Since the plan’s inception, nearly 100,000 affordable homes have been created or preserved. HPD also actively promotes the preservation of affordable housing through education, outreach, loan programs and enforcement of housing quality standards. For more information, visit www.nyc.gov/hpd.


TNS Development Group, Ltd:
TNS, along with Great American Construction have successfully rehabilitated or built nearly 3,000 multi-family dwelling units in the New York City metropolitan area representing over $260,000,000 in construction costs and are presently involved in the pre-development of nearly 800 new and rehabilitated units in New York City with construction costs estimated to be in excess of $160,000,000.

 




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