Developed in partnership with Nehemiah HDFC (the development arm of East Brooklyn Congregations), Phase 4B-1 & 4B-2 Octets consist of 320 units structured as two independently financed projects.
Each phase comprises 160 units of low and moderate-income rental housing in 20 eight-unit buildings. The two projects were 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 are affordable to households at 60% of Area Median Income (AMI) or below. The remaining 30% of the units have rents set at 90% AMI.
The design of these octets maintains the low to mid-rise character of the Spring Creek neighborhood while increasing density to allow for an efficient rental project.
LOCATION
Brooklyn, NY
TYPE
New Construction, Multi-Family Rentals
UNITS
320
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