HPD Announces Plans For 100% Affordable Development In Brooklyn

by Third Party | Jan 3, 2022 | 0 comments

Source: Real Estate Weekly —

The New York City Department of Housing Preservation and Development (HPD) today announced the development partners and plans for Site 1 of the Bedford-Stuyvesant Community Wealth and Wellness RFP. Almat Urban and the Bedford-Stuyvesant Restoration Corporation will transform a City-owned site in Central Brooklyn into a 100 percent affordable homeownership development for first-time home buyers. The 11-story mixed-used development, the Norma, will give rise to 44 homeownership opportunities through a mix of one- to three-bedroom condo-style coops for low- to moderate-income households with a broad range of affordability.

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