Nehemiah Spring Creek Phase 4B-1 & 4B-2 Octets

OVERVIEW:

Phase 4B-1 & 4B-2 Octets will consist of 320 units structured as two independently financed projects. Each phase will be 160 units of low and moderate income rental housing in 20 octets buildings financed under the New York City Department of Housing Preservation and Development (HPD) and New York City Housing Development Corporation (HDC) Extremely Low & Low Income Affordability (ELLA) Program.
70% of the units in will be affordable to households at 60% of Area Median Income (AMI) or below. The remaining 30% of the units will have rents set at 90% AMI. This Architect is MHG Architects.


Background on Spring Creek / East New York Community

Spring Creek is the southeastern part of Community Planning Board #5 and is often included in East New York. Its boundaries, starting from the north and moving clockwise are: Flatlands Avenue to the north, the Fountain Avenue border to the east, Belt Parkway to the south, and Lousiana Avenue to the west. Spring Creek includes the Starrett City apartment complex, the Gateway Plaza Mall, and the Spring Creek Nehemiah affordable housing development.

East New York has a population around 183,000 (2010). It has one of the fastest growing populations in Brooklyn. As of 2010, East New York was 51.4% Non-Hispanic Black, 36.7% Hispanic or Latino, 6.4% Asian, 1.9% Non-Hispanic White, with 3.6% describing themselves as "other." Over half the population lives below the poverty line and receives public assistance (Temporary Assistance for Needy Families [TANF], Home Relief, Supplemental Security Income, and Medicaid). During the 1960s, East New York transitioned from being predominately Jewish and Italian to being predominately African American and Puerto Rican. However, now East New York is more diversified, with large African American, Puerto Rican, Dominican, West Indian, and South Asian populations.

Nehemiah is the operational / development arm of East Brooklyn Congregations (EBC) a church-based organization formed in September 1980 to transform the then distressed communities of Brownsville and East New York. Since 1980, under the auspices of Nehemiah, 4,000 homes have been built for working class, moderate and middle income families. More importantly, the Brownsville and East New York neighborhoods have been completely transformed as the work of Nehemiah served as a catalyst for unprecedented reinvestment over the last 35 years. Most students of community development and urban revitalization consider the work of Nehemiah and EBC over the last 35 years among the greatest, if not the greatest, example of inner city redevelopment in modern times. The fact that a single organization has led these efforts in such a vast and challenging urban environment makes the accomplishments all the more remarkable.

Details
Year: The development team closed on construction financing on the 4B-1 project in December 2017 and on the 4B-2 project in April 2019.
Location: Brooklyn, NY
Units: 320
Type: New Construction, Multi-Family Rentals

Team
Key Staff

Michael Gecan – Mr. Gecan is Co-Director of the Industrial Areas Foundation. He was responsible for the initial organizing and planning that helped to create EBC 35 years ago. His efforts and those of the EBC membership and leadership led the City of New York to commitment to the Nehemiah Housing program in the early 1980s.

Grant Lindsay – Mr. Lindsay handles day to day management of EBC including issue identification, planning, organizing and execution of actions targeted at advancing the ambitious community development agenda of the organization.

Peter Hansen – Mr. Hansen is Vice Chairman of Monadnock Construction and Co-Owner of Monadnock Development. Mr. Hansen has led the design and development efforts on several phases of Nehemiah for more than 17 years. Mr. Hansen has been associated with Monadnock for more than 30 years and has overseen many of the company's most high profile projects.

Kirk Goodrich – Mr. Goodrich is Director Real Estate Development at Monadnock Development. For the last five years, he has been responsible for conceiving and arranging financing for a variety of publicly subsidized developments precisely like the rental projects being proposed for Phase 4B.

Zach Longmore– Mr. Longmore is a Project Developer at Monadnock Development overseeing the Nehemiah projects. Aside from the day to day management of Nehemiah, Mr. Longmore coordinates Monadnock's City RFP responses and explores underwriting and feasibility for acquisition and new development opportunities.