Officials Celebrate Groundbreaking Ceremony for Harry T. Nance Apartments and a new True Holy Church in Ocean Hill, Brooklyn
Featured in New York State Homes and Community Renewal website
NEW YORK CITY – New York State Homes and Community Renewal (HCR) and the New York City Department of Housing Preservation and Development (HPD) join RiseBoro Community Partnership and True Holy Church to announce the start of construction on Harry T. Nance Apartments, a new affordable housing project with 67 apartments for low-income residents, including formerly homeless veterans and their families. The new development will also create a new home for the True Holy Church.
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "The Harry T. Nance Apartments is another example of State’s investment in the future of Central Brooklyn. Today’s announcement celebrates the start of construction on 67 affordable apartments and a new home for a critical neighborhood institution, the True Holy Church. Thanks to our partnership with RiseBoro, HPD and the True Holy Church, this development will ensure that Central Brooklyn’s neighborhoods continue to grow stronger and prosper. We look forward to welcoming residents to their new home.”
"Faith-based institutions provide a powerful anchor for our communities, and are critical partners in our effort to create more affordable housing opportunities across New York City,” said HPD Commissioner Maria Torres-Springer. “I would like to thank True Holy Church, Riseboro, and the entire development team for working with us to bring 67 affordable homes and a new church to the East New York neighborhood.”
“True Holy Church has been a staple in our community for years and this project will guarantee that we remain a beacon of hope, love and service for years to come. We are excited about the future!” said Pastor Vivian Grubb of True Holy Church.
The building will be named in honor of Harry T. Nance, True Holy Church’s benevolent Pastor Emeritus who served from 1978 to 2006. True Holy Church will maintain ownership of the land. A new 4,913 square foot church sanctuary will be located on the ground floor of the new building, along with a 1,672 square foot community facility space. The lower level will contain another 4,802 of community space for church use. The residential portion of the building will be owned and managed by RiseBoro Community Partnership, a Bushwick-based non-profit community development organization.
Apartments will be affordable to extremely low-, very low-, and low-income households with income limits set at $21,930 for an individual and up to $75,120 for a household of three. The project also participated in the city’s Mandatory Inclusionary Housing program through Option 1. As a result, 25 of the 67 apartments will be permanently affordable. An additional 17 apartments will be permanently affordable through HPD financing. All other apartments will be subject to a 60 year affordability agreement with renewal expectations. The development will also include housing for formerly homeless veterans.
The 10-story building will be designed to meet Passive House standards. This sustainable and efficient technique uses extreme insulation, air-tightness, and energy recovery ventilation to dramatically reduce energy consumption when compared to a standard building of the same size. The building will also provide superior air quality and noise attenuation, and lower utility costs to residents. “Building to Passive House standards positively impacts the health and wellness of tenants and, in the long term, the entire urban environment,” said Scott Short, Chief Executive Officer of RiseBoro Community Partnership. “This project exemplifies the type of responsible development our city needs as we move into the new millennium: buildings that are both affordable and sustainable.”
The total development cost of the project is approximately $35.7 million. Financing includes $10.5 million in City Capital from HPD, and $2 million Reso A funds from New York City Council Member Rafael L. Espinal, Jr. of Brooklyn District 37. HCR provided $2.2 million in Housing Trust Fund (HTF) financing. HCR also provided Section 8 Project-Based Vouchers and Low-Income Housing Tax Credits that will generate $14.6 million in equity for the project. . New York State Energy Research and Development Authority (NYSERDA) provided a $58,000 grant. Construction financing was also provided by Chase. Tax credit equity was provided by Hudson Housing Capital and Santander.
“We’re thrilled to support the development of Harry T. Nance Apartments, which will be a key component to creating affordable housing and a sustainable environment for the Brooklyn community,” said Sharmi Sobhan, Executive Director of Community Development Banking at Chase.
“Santander Bank, N.A. recognizes that our success as a financial institution is directly linked to the prosperity of the families, businesses and neighborhoods we serve. We are pleased to be part of the financing for Harry T Nance Apartments project, bringing 67 units of affordable housing to this community and our veterans,” said Chris Memoli, Director of Community Development Finance at Santander.
Construction commences in Fall 2018 and the building is scheduled to be completed in Fall 2020.