Monday, May 9, 2022

Governor Hochul and Mayor Adams Announce Completion of $72 Million Mixed-Use Affordable Housing Development in Downtown Brooklyn

 Nevins Street Apartments

Nevins Street Apartments Adds 129 Affordable and Supportive Homes to Downtown Brooklyn with 6,000 Square Feet of Retail Space 

78 Apartments Reserved for Formerly Homeless Individuals, Veterans, Young Adults, and Individuals Recovering From a Substance Use Disorder

Part of Governor's $25 Billion Five-Year Transformative Housing Plan

 Governor Kathy Hochul and New York City Mayor Eric Adams today announced the completion of Nevins Street Apartments, a $72 million mixed-use housing development that creates accessible, supportive and affordable homes in Downtown Brooklyn. The development complex includes the entire renovation of a century-old building and the new construction of an adjacent 10-story building. Nevins Street Apartments features 129 affordable apartments, including 78 supportive homes reserved for individuals who need tailored services to live independently and 6,000 square feet of commercial space.

"In the wake of the pandemic, it is critical that we take bold action to make New York a more affordable place for all, and that is why my administration launched a comprehensive $25 billion affordable housing plan to help ensure every New Yorker has access to safe, affordable housing," Governor Hochul said. "New York is committed to tackling the housing crisis with transformative projects like Nevins Street Apartments that drive neighborhood revitalization and provide New Yorkers with the support and stability they need to thrive."

"We need to solve the crisis of homelessness with the crisis of housing, and I am proud to have supported a project as Borough President and now as mayor that helps us do exactly that," Mayor Adams said. "This project represents exactly what we need more of in New York City: collaboration between city and state to provide affordable homes for families in shelters, New Yorkers struggling with mental health challenges, or veterans who have served our country bravely and need a place to call home."

Nevins Street Apartments is part of Governor Hochul's sweeping plans to make housing more affordable, equitable, and stable. In the recently enacted State Budget, the Governor secured a new $25 billion, five-year, comprehensive housing plan that will increase housing supply by creating or preserving 100,000 affordable homes across New York, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes.

Nevins Street Apartments has a total of 129 apartments across two buildings that share a common core. The development includes the substantial rehabilitation of an existing building originally constructed in 1912 as a single room occupancy residential facility by the YWCA for single women. Over the last 30 years, the Institute for Community Living has operated the building as an Office of Mental Health licensed transitional housing facility. The redevelopment converted the existing single rooms into self-contained apartments.

The newly constructed 10-story building stands on an adjacent parking lot. Amenities include common laundry facilities, 24/7 front desk security, a community room, a gym and yoga room, a computer lab, and a classroom. The developer is the Institute for Community Living.

Of the 129 apartments, 78 are reserved for formerly homeless individuals, veterans, young adults, and individuals recovering from a substance use disorder. The remaining apartments are affordable to households earning at or below 60 percent of the Area Median Income. There is one apartment reserved for a superintendent.

Residents will have access to the Institute for Community Living's comprehensive onsite support services including counseling, parenting and life skills, family reunification and stabilization, health education, social and recreational services, and linkage to community services.

The residential complex is located on Nevins Street between Schermerhorn and State Streets in Downtown Brooklyn. The development's retail space will face Schermerhorn Street, the neighborhood's major commercial corridor. Residents will enjoy easy access to nearby transit and all major services including shopping, medical care and public facilities.

State financing for the development includes $13.6 million in tax-exempt bonds, federal Low-Income Housing Tax Credits that generated $27.3 million in equity and $9 million in subsidy from New York State Homes and Community Renewal. The New York State Office of Mental Health will provide $1.9 million annually for rental assistance and services for the supportive units through the Empire State Supportive Housing Initiative. The New York City Department of Housing Preservation and Development provided $10.6 million from the Supportive Housing Loan Program.

Homes and Community Renewal Commissioner RuthAnne Visnauskas said,"Taking a century-old building and creating 129 affordable and supportive homes for some of our most vulnerable New Yorkers demonstrates the type of collaboration and vision needed to combat homelessness and strengthen communities. Under Governor Hochul's leadership, we will continue to increase the supply of decent and affordable housing across Brooklyn's diverse neighborhoods and in every region of the state. Our thanks to the city of New York and the Institute for Community Living for their partnership on this important investment."

Office of Mental Health Commissioner Dr. Ann Sullivan said, "The 78 supportive housing units in the Nevins Street Apartments will allow people living with mental illness the opportunity to live independently and successfully in their own homes and community. Governor Hochul's commitment to supportive housing is providing vulnerable New Yorkers with safe and stable homes, coupled with the services they need to become valuable contributors to the communities."

New York City Housing Preservation and Development Commissioner Adolfo Carrión Jr. said, "More than half of the 129 affordable homes at Nevins Street Apartments are set aside for New Yorkers experiencing homelessness, who will also have access to supportive services provided by the Institute for Community Living. Each apartment represents a lifeline to someone in need of housing, enabling them to live healthier lives in the safety and comfort of their own home. Thank you to ICL and our partners at the State for making this project possible, and to the new residents of Nevins Street Apartments, welcome home."

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