Kolbster
January 29th, 2005, 02:43 PM
BROOKLYN HEIGHTS PRESS
by Linda Collins
Developers of one of Hoyt-Schermerhorn Urban renewal Area projects in Dowtown Brooklyn have revcieved some assistance with their financing from the New York City Housing Development Corp. (HPD)
The HDC approved $35.2 million of tax-exempted bond financing and $3.5 million from its corporate reserves for what it calls the "first mixed-income rental apartment buildings in Brooklyn."
The developers of the site, to be known as state renaissance court with the address of 200 Schermerhorn St., are IBEC Building corp. and Strategic Development and Construction, both Brooklyn-based companies who will be operating as State Renaissance LLC.
Under the program, 30 percent of the 158 rental units will be reserved for low income housholds; 20 percent of the total units will be set-aside as middle-income housing; and the remaining 50 percent of the units will be rented at market rate, according to a published statement from HDC.
the range in income for a typical family of four will be $25,1000-$37,680 for the low-income units, with a cap of $125,000 for the middle-income units, according to IBEC's Samy Brahimy, who said he estimates that the application process for the affordable units will begin in January 2006. Brahimy also said his firm's website, ibecliving.com will be posting updated during construction
The apartments will be a miz of 17 studios, 40 one-bedroom units, 91 two-bedroom units, nine three-bedroom units and one superintendent's apartment.
"HDC's mixed-Income Program allows us to serve a wider range of economically diverse NEw Yorkers and allows our resources to go father," said Emily Youssouf, HDC president, adding that the HDC recieved national recognition for this innovative program at the recent annual meeting of the NAtional Council of State Housing Finance Agencies. "We look forward to financing more mixed-income developments as aprt of the mayor's housing plan."
As previously reported in the Brooklyn Eagle, the dite is bounded by hoty, Shermerhorn, Bond and State streets and will be built in two phases with this first phase erected atop the Hoyt-Schermerhorn Subway station.
Its design has undergone a few changed, according to John Frezza of Strategic Construction.
"In view of the mayor's initiative on affordable housing we wanted to create more affordable units so we embellished the project a bit," he said.
As originally planeed, a 135-unit apartment building with towo seperate aings-- one 8 stories, the other 6 stories--was proposed to include a one-story vent shart between them need for the subway.
"The design now calls for two eight-story wings with a 6 story connection, creating a more contectual look," Frezza said, adding that the developers have been working closely with the city and MTA on the plans [b]
"the building designs are intended to form a transition in the scale from the commercail activity of Downton Brooklyn to the residential charcter of the residential character of brownstone brooklyn," said architect Jim McCullar of James McCullar & Associates, who included the following description on his website: "The eight-story building is located above the Hoyt-Schermerhorn subway station that extends the length and width of Schermerhorn Street and the building foorprint. The two-level subway structure was designed to support a furutre building, but new seismic criteria requires a first floor truss-like structure isolated at load points and anchored by pile foundations at the adjacent townhouse sites. As a result the 447-foot frontage is treated as one building, with a central lobby leading to three elevator cores."
In addition to the rental units, there will be 17,000 square feet of space for retail stores at street level, with a 72-car private indoor parking garage at the rear. Other amenities will include 24-hour doorman service, laundry rooms, a fitness center and recreation room, and a landscaped outdoor terrace on the second floor.
HDC is not involved in Phase II of IBEC/Strategic project, which will eventually provide for 14 two-family market rate condominium townhouses build next to and after completion of the state REnaissance Court aparments.[b]
Both phases of the project were originally initiated through an RFP issued by the Empire State Development corporation, and are being developed under the auspices of the Department of houseing preservation and Development (HPD).
According to Richard Bearack, who heads the Brooklyn Borough President's Hoyt-Schermerhorn Task Force, it is important to note that this property only occupies the first three-quarters of schermerhorn Street between Hoyt and Bond, doesn't include any property on Bond, and doesn't occupy and already developed properties, such as the existing private homes and St. Nicholas Cathedral.
According to Frezza, constuction will begin "on or about Februarty 1." The closing on the property took place December 7.
The other two parcels in the Hoyt-Schermerho9rn Renewal area at smioth Street and atlantic Avenue, a mixed-use apartment building with a possible hotel being developed by Leviev Boymelgreen Developers and currently in redesign' and a site bordering by Smither, Schermerhorn, hoyt and State streets being developed by Time Equities and hamlin Ventures operating as HS developement PArtners LLC.
The Hs development site is still in the Design stage but has released the names of the architects for two parts of the three-part project. Rogers Marbel Architects will develop the town houses of Phase I; and for phase II, James S. Polshek Partners will design Schermerhorn house, the proposed 200 unit building containgin affordable houseing units being develped in conjunction with common ground and the Actors Fund. All three sites in the Hoyt-schermerhorn are were previously rented to parking lot owners by the State of New York.
by Linda Collins
Developers of one of Hoyt-Schermerhorn Urban renewal Area projects in Dowtown Brooklyn have revcieved some assistance with their financing from the New York City Housing Development Corp. (HPD)
The HDC approved $35.2 million of tax-exempted bond financing and $3.5 million from its corporate reserves for what it calls the "first mixed-income rental apartment buildings in Brooklyn."
The developers of the site, to be known as state renaissance court with the address of 200 Schermerhorn St., are IBEC Building corp. and Strategic Development and Construction, both Brooklyn-based companies who will be operating as State Renaissance LLC.
Under the program, 30 percent of the 158 rental units will be reserved for low income housholds; 20 percent of the total units will be set-aside as middle-income housing; and the remaining 50 percent of the units will be rented at market rate, according to a published statement from HDC.
the range in income for a typical family of four will be $25,1000-$37,680 for the low-income units, with a cap of $125,000 for the middle-income units, according to IBEC's Samy Brahimy, who said he estimates that the application process for the affordable units will begin in January 2006. Brahimy also said his firm's website, ibecliving.com will be posting updated during construction
The apartments will be a miz of 17 studios, 40 one-bedroom units, 91 two-bedroom units, nine three-bedroom units and one superintendent's apartment.
"HDC's mixed-Income Program allows us to serve a wider range of economically diverse NEw Yorkers and allows our resources to go father," said Emily Youssouf, HDC president, adding that the HDC recieved national recognition for this innovative program at the recent annual meeting of the NAtional Council of State Housing Finance Agencies. "We look forward to financing more mixed-income developments as aprt of the mayor's housing plan."
As previously reported in the Brooklyn Eagle, the dite is bounded by hoty, Shermerhorn, Bond and State streets and will be built in two phases with this first phase erected atop the Hoyt-Schermerhorn Subway station.
Its design has undergone a few changed, according to John Frezza of Strategic Construction.
"In view of the mayor's initiative on affordable housing we wanted to create more affordable units so we embellished the project a bit," he said.
As originally planeed, a 135-unit apartment building with towo seperate aings-- one 8 stories, the other 6 stories--was proposed to include a one-story vent shart between them need for the subway.
"The design now calls for two eight-story wings with a 6 story connection, creating a more contectual look," Frezza said, adding that the developers have been working closely with the city and MTA on the plans [b]
"the building designs are intended to form a transition in the scale from the commercail activity of Downton Brooklyn to the residential charcter of the residential character of brownstone brooklyn," said architect Jim McCullar of James McCullar & Associates, who included the following description on his website: "The eight-story building is located above the Hoyt-Schermerhorn subway station that extends the length and width of Schermerhorn Street and the building foorprint. The two-level subway structure was designed to support a furutre building, but new seismic criteria requires a first floor truss-like structure isolated at load points and anchored by pile foundations at the adjacent townhouse sites. As a result the 447-foot frontage is treated as one building, with a central lobby leading to three elevator cores."
In addition to the rental units, there will be 17,000 square feet of space for retail stores at street level, with a 72-car private indoor parking garage at the rear. Other amenities will include 24-hour doorman service, laundry rooms, a fitness center and recreation room, and a landscaped outdoor terrace on the second floor.
HDC is not involved in Phase II of IBEC/Strategic project, which will eventually provide for 14 two-family market rate condominium townhouses build next to and after completion of the state REnaissance Court aparments.[b]
Both phases of the project were originally initiated through an RFP issued by the Empire State Development corporation, and are being developed under the auspices of the Department of houseing preservation and Development (HPD).
According to Richard Bearack, who heads the Brooklyn Borough President's Hoyt-Schermerhorn Task Force, it is important to note that this property only occupies the first three-quarters of schermerhorn Street between Hoyt and Bond, doesn't include any property on Bond, and doesn't occupy and already developed properties, such as the existing private homes and St. Nicholas Cathedral.
According to Frezza, constuction will begin "on or about Februarty 1." The closing on the property took place December 7.
The other two parcels in the Hoyt-Schermerho9rn Renewal area at smioth Street and atlantic Avenue, a mixed-use apartment building with a possible hotel being developed by Leviev Boymelgreen Developers and currently in redesign' and a site bordering by Smither, Schermerhorn, hoyt and State streets being developed by Time Equities and hamlin Ventures operating as HS developement PArtners LLC.
The Hs development site is still in the Design stage but has released the names of the architects for two parts of the three-part project. Rogers Marbel Architects will develop the town houses of Phase I; and for phase II, James S. Polshek Partners will design Schermerhorn house, the proposed 200 unit building containgin affordable houseing units being develped in conjunction with common ground and the Actors Fund. All three sites in the Hoyt-schermerhorn are were previously rented to parking lot owners by the State of New York.