Progress Report on Two Transformative Development Projects in New York City

Alembic continues to work towards the start of construction on two transformative projects in New York City, Betances Family Apartments, in the Mott Haven neighborhood of the South Bronx, and the Eliza, in in the Inwood neighborhood of Manhattan. Alembic anticipates breaking ground in June 2020 on both projects.

Alembic is developing Betances Family Apartments in partnership with Lemle & Wolff, a 75-year old property management, development and general contracting firm, and the Bridge, one of the city’s most respected providers of services for formerly homeless individuals and families. The project, part of the New York City Housing Authority’s (NYCHA) NextGen program, consists of the new construction of a 15-story building on underutilized property at the corner of Willis Avenue and East 146th Street, adjacent to the NYCHA Betances Houses complex. Formerly homeless individuals and families will occupy 30% of the building’s 101 units, and low- and very low- income households will reside in the balance of the apartments. The ground floor along Willis Avenue will include approximately 10,000 square feet of commercial space.

The Eliza, named for Eliza Hamilton, whose many achievements included the creation of the first library in northern Manhattan, is a multifaceted project, encompassing the reconstruction of the Inwood branch of the New York City Public Library, the development of a new Universal Pre-kindergarten in partnership with the New York City Department of Education, approximately 8,000 square feet of community space for an array of community programs and 175 units of housing for low- and very low-income households. Alembic is working in partnership with the New York City Public Library, Ranger Properties, and two long-time nonprofit Alembic partners, Children’s Village and the Community League of the Heights (CLOTH).