Earlier this month, officials from MacQuesten Development, LLC and East Brooklyn Housing Development Corporation officially kicked off work for a new affordable housing development in Bedford-Stuyvestant, Brooklyn.
Named for its address at 1510 Broadway, the new seven-story building is set to feature 108 homes atop 9,000 square feet of ground-floor retail space. The mixed-use building will rise from a wedge-shaped, 21,000-square-foot property at the intersection of Bushwick and Ocean Hill.
“I am proud to be developing a property that sat vacant for years to bring much needed housing to a growing party of Brooklyn," said MacQuesten Development president and chief executive officer Rella Fogliano in a news release. "Along with the City of New York and our other partners in government and the private sectors, we are helping to continue the revitalization of Brooklyn."
Designed by Gluck+, 1510 Broadway will offer a mix of floor plans ranging from studio units to three-bedroom apartments. Those apartments are to be largely priced for households earning between 40 and 80 percent of the area median income level (AMI), with the exception of 16 apartments that are to be set aside for formerly homeless residents.
The project is one of several created as a result of the Housing Preservation and Development Department's Extremely Low and Low-Income Affordability Program, which funds the construction of low-income multi-family developments restricted to renters earning less than 80 percent of AMI.
- Bedford-Stuyvestant (Urbanize NYC)