Read all about it! Barrier Free Living Apartments is featured in the August 2013 issue of the Novogradac Journal of Tax Credits. Please click here to read the full article.
Barrier Free Living (BFL), Alembic Community Development and Foxy Management celebrated breaking ground on Barrier Free Living Apartments, BFLâ€™s first permanent supportive housing development that, when complete, will provide 120 apartments with a preference for the disabled and survivors of domestic abuse. Also in attendance were project partners and supporters including the Corporation for Supportive Housing (CSH), Citi Community Capital, Richman Housing Resources, New York Cityâ€™s Housing Development Corporation (HDC), the Department of Housing Preservation and Development (HPD, the Mayorâ€™s Office for People with Disabilities (MOPD), along with the New York State Homeless Housing and Assistance Corporation (HHAC) and local elected officials.
Barrier Free Living Apartments is BFLâ€™s first permanent supportive housing development.Â One building, on East 138th Street, will provide 51 apartments for families with a head of household who is a survivor of domestic violence. The second building, on East 139th Street, will comprise 70 apartments for individuals with disabilities who are survivors of domestic violence, severely disabled women who are in a nursing home diversion program and women who are disabled veterans. Barrier Free Living will be providing social services for both of these buildings as well as 24/7 security and surveillance. These new buildings will replace an abandoned incomplete construction site which has been an eyesore to the community for many years.
The development will serve families and individuals earning at or below 60% of the Area Median Income (AMI) which is equivalent to an annual income of no more than $36,120 for an individual or $51,540 for a family of four. Units will be filled through referrals by Freedom House, DHS, Family Justice Centers and other community based domestic violence programs. The development will receive Project-Based Section 8 from HPD to help subsidize the cost of rent on 77 of the 121 total units.
The total development cost will be $42.5 million. HDC provided $24.8 million in construction financing and two mortgages toward permanent financing the amounts of $3.96 million and $7.86 million. HPD provided $1.5 million in Neighborhood Stabilization Plan funds. The New York State Homeless Housing and Assistance Corporation provided $7 million in funds through its Homeless Housing and Assistance Program. Richman Housing Resources provided $16.9 million in Low-Income Housing Tax Credits. Citi Community Capital will act as the Letter of Credit provider on this development.
To see a video of news coverage from the ground breaking click here.