NYCHA bangs out another affordable housing deal with private developer

Date Published: 
January 13th, 2021

From Real Estate Weekly:

The New York City Housing Authority (NYCHA), New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) announced today the closing of Twin Parks Terrace, a 182-units affordable housing development in the Bronx on NYCHA-owned land.

Construction is anticipated to start in January 2021.

Twin Parks Terrace is a new construction project which will consist of 181 affordable rental units and one superintendent unit on Webster Avenue between East 183rd Street and East 184th Street in the Fordham Heights section of the Bronx.

The project site is currently a parking lot adjacent to the Twin Parks West Houses development, which underwent a conversion in 2018 through NYCHA’s Permanent Affordability Commitment Together (PACT) program.

“Today’s announcement is just the latest example of the Authority’s commitment to creating affordable housing at a time when communities across New York City have a dire need for it,” said NYCHA Executive Vice President for Real Estate Development Jonathan Gouveia. “We look forward to working with our many partners to make this exciting project a reality.”

Read Real Estate Weekly's article "NYCHA bangs out another affordable housing deal with private developer," featuring the NYCHA and NYC HPD.

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