CITY OF NEW YORK
DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT
Pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter, notice is hereby given that the Department of Housing Preservation and Development ("HPD") of the City of New York ("City") has proposed an amendment to the terms and conditions of the sale of the following property ("Disposition Area") in the Borough of The Bronx:
Address Block/Lot
120-126 West 169 Street 2518 / p/o 31
This submission is to seek an amendment of Original Project, which was known as Nelson Senior Housing. The Original Project was for the construction of one seven-story multiple dwelling with 81 units of senior housing and one superintendent unit, plus passive recreation area and parking. The Original Project was completed in 2004. Under the proposed amended project (“Amended Project”), the current owner of the Disposition Area, Nelson Senior Housing Development Fund Corporation, will convey the portion of the Disposition Area currently used as parking, known as Block 2518, Lot p/o 31 (“Amended Project Area”) to Excelsior II Housing Development Fund Corporation (“Sponsor”). Sponsor will thereafter construct on the Amended Project Area a new nine-story multiple dwelling containing approximately 59 rental dwelling units plus one superintendent unit. The new building will also be situated in part on an adjacent property located on Block 2518, Lot 36. The building will be constructed under HPD’s Extremely Low and Low Income Affordability Program (“ELLA”).
Under HPD's ELLA, sponsors purchase City-owned land or vacant buildings and construct or rehabilitate multifamily buildings in order to create affordable rental housing. Construction and permanent financing is provided through loans from private institutional lenders and from public sources including HPD, the New York City Housing Development Corporation, the State of New York, and the federal government. Additional funding may also be provided from the syndication of low-income housing tax credits. The newly constructed or rehabilitated buildings provide rental housing to low-income families. Subject to project underwriting, up to 30% of the units may be rented to formerly homeless families.
The proposed Amended Land Disposition Agreement and Supplemental Project Summary are available for public examination at the office of HPD, 100 Gold Street, Room 5-A4, New York, New York on business days during business hours.
PLEASE TAKE NOTICE that a public hearing will be held on June 10, 2015 at Second Floor Conference Room, 22 Reade Street, Manhattan at 10:00 a.m., or as soon thereafter as the matter may be reached on the calendar, at which time and place those wishing to be heard will be given an opportunity to be heard concerning the proposed sale of the Disposition Area pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter.
Individuals requesting sign language interpreters should contact the Mayor's Office Of Contract Services, Public Hearings Unit, 253 Broadway, Room 915, New York, New York 10007, (212) 788-7490, no later than five (5) business days prior to the public hearing. TDD users should call Verizon relay services.