The city will turn an underused NYPD parking lot in the East Village into an affordable housing development, Mayor Zohran Mamdani said Monday.
The development at 324 E. 5th St., between First and Second avenues, will include 131 affordable homes, community space, a senior center and parking facilities, the mayor said in a release.
Thirty percent of the homes will be reserved for formerly homeless New Yorkers, the release said.
The project, known as The Aurea, will have landscaped terraces, green roofs and all-electric building systems, according to the release.
In a statement, Mamdani said that “public land should serve the public.”
The mayor’s office said Housing Works, Spatial Equity, the Cooper Square Committee and the This Land is Ours Community Land Trust are on the project’s development team.
(Rendering courtesy of the mayor’s office)
“This project will provide permanently affordable housing, create homes for formerly homeless New Yorkers and put community stewardship at its center through a community land trust,” Mamdani said.
“It’s the first City land designation of our administration, and it’s exactly the kind of housing we’re committed to building across the five boroughs: deeply affordable, community-led and worthy of the greatest city in the world,” he added.