Construction has started on the Nevins Street Apartments, a $72 million mixed-use affordable and supportive housing development in downtown Brooklyn. The development complex includes the gut rehabilitation of a century-old building and the new construction of an adjacent 10-story building.
There will be 129 affordable apartments, including 78 supportive homes reserved for individuals with mental illness and 3,100 sq. ft. of commercial space.
“Mixed-use and supportive housing are a vital component of our overall efforts to increase affordable housing across the state and combat homelessness in communities,” New York Gov. Andrew Cuomo said in a statement. “Nevins Street Apartments will increase access to safe, affordable homes and services for some of our most vulnerable New Yorkers while contributing to a more vibrant and healthier Downtown Brooklyn.”
The project includes the substantial rehabilitation of an existing building originally constructed in 1912-13 as a Single Room Occupancy 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 will convert the existing single rooms to self-contained apartments.
The newly constructed 10-story building will be built on an adjacent parking lot. The design calls for the two buildings to be fully integrated and will share a single core. Building amenities include common laundry facilities, 24/7 front desk security, a community room, a gym and yoga room and a classroom.
State financing for the development includes $13.5 million in tax-exempt bonds, federal Low-Income Housing Tax Credits that will generate $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 Governor’s Empire State Supportive Housing Initiative.
The New York City Department of Housing Preservation and Development provided $9.6 million from the Supportive Housing Loan Program. The New York State Attorney General is providing $1 million in funds from property owner settlements. The developer is the Institute for Community Living. Additional financial support is being provided by Richman Housing Resources, HSBC and TD Bank.
