{"id":196023,"date":"2026-04-13T21:51:35","date_gmt":"2026-04-13T21:51:35","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/196023\/"},"modified":"2026-04-13T21:51:35","modified_gmt":"2026-04-13T21:51:35","slug":"bronx-brooklyn-developers-tap-state-for-affordable-housing","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/196023\/","title":{"rendered":"Bronx, Brooklyn Developers Tap State for Affordable Housing"},"content":{"rendered":"

A pair of affordable housing projects is getting financing assistance from the state to move forward.<\/p>\n

Gov. Kathy Hochul issued $350 million in housing bonds and subsidies for affordable housing projects across the Empire State, the Commercial Observer reported<\/a>. Nearly half of that financing is going towards two developments in New York City\u2019s outer boroughs.<\/p>\n

In New Lots, Brooklyn, Housing Plus Solutions and Spatial Equity scored $79 million from the state for a project at 729 Van Sinderen Avenue. The 11-story, 193-unit development will include 116 units set aside for supportive housing.<\/p>\n

The one-story warehouse at the site traded hands last year for slightly more than $7 million<\/a> after being marketed as a development site with more than 103,000 square feet of buildable space. Previously, the seller had acquired the property in 2015 for $2.2 million.<\/p>\n

In the Bronx\u2019s Mott Haven neighborhood, Carthage Advisors and Rester Management landed $73 million in financing for an 11-story development at 431-441 Concord Avenue. The 142-unit Taryn Tower will be marketed towards households earning 70 percent or below of the area median income.<\/p>\n

\u201cThese investments are another major step forward in our mission to expand housing opportunities in every corner of the state and make New York more affordable,\u201d the governor said in a statement.<\/p>\n

The investment across the state stems from a $25 billion package approved by state lawmakers for the 2023 fiscal year to replace the aging housing stock over a five-year period. For the 2027 fiscal year, Hochul\u2019s budget included plans to build or revitalize 100,000 affordable housing units across the state.<\/p>\n

Last month, Hochul proposed<\/a> reforming the State Environmental Quality Review Act (SEQRA) as part of her executive budget to exempt certain housing projects from the lengthy environmental review process.<\/p>\n

The goal is to eliminate legal challenges from opponents who weaponize SEQRA to delay or block housing developments, which proponents argue increases project costs and timelines.\u2014 Holden Walter-Warner<\/a><\/p>\n

\tRead more
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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Gov.\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Will the state budget blunt lawsuits that block housing?\u00a0<\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t\t\t\"160\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

NYC\u2019s top deals: Former UWS school trades for $26M<\/p>\n

\t\t\t<\/a>
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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Governor\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

The Daily Dirt: Hochul goes 75% market-rate in Crown Heights<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"A pair of affordable housing projects is getting financing assistance from the state to move forward. Gov. Kathy…\n","protected":false},"author":2,"featured_media":196024,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[78159,98,100,99,9,24,63],"class_list":{"0":"post-196023","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-brooklyn","8":"tag-bronx-brooklyn-affordable-housing","9":"tag-brooklyn","10":"tag-brooklyn-headlines","11":"tag-brooklyn-news","12":"tag-new-york","13":"tag-new-york-city","14":"tag-nyc"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/196023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=196023"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/196023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/196024"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=196023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=196023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=196023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}