Northeastern Towers AnnexAffordable Institutional Multi-family Senior Living NY 2019
10 Stories, 158 Apartments
INTUS Double Pane Windows & Storefronts
About This Project
Northeastern Towers Annex is an affordable senior housing project in Jamaica, New York made possible by the New York City Department of Housing Preservation and Development (HPD), the New York City Housing Development Corporation (HDC), the Northeastern Conference of Seventh Day Adventists (NEC), and the Fifth Avenue Committee (FAC).
INTUS arcade steel reinforced polymer casement windows and storefronts help make this addition to the community energy efficient. This 10-story building will create 159 new homes for very low-income and formerly homeless seniors aged 62 years and up.
“The project was financed through $90.6 million in public and private investment. NYC Housing Development Corporation provided more than $50 million in tax-exempt bonds and an additional $8.7 million in corporate reserves. NYC Department of Housing Preservation and Development provided more than $13 million in local subsidy. In addition, the project benefits from Low-Income Housing Tax Credits (LIHTC) that generated more than $37 million in tax credit equity from investors through Wells Fargo, who also provided the letter of credit.Queens Borough President Melinda Katz provided $1,000,000 in discretionary capital funding from the City of New York.” – New York for Seniors
“This project represents the power of public-private partnership, and I’d like to express my appreciation for the collective creativity and hard work of all involved.” – HDC President Eric Enderlin.