"The eight new buildings will span four neighborhoods and create 108 apartments for first-time homeowners, offering affordable home ownership opportunities to first-time buyers."
"All of the co-ops in the project, dubbed Constellation, will be income and asset restricted, aimed at households earning 60 and 70 percent of Area Median Income."
"Sales prices will likely be between $89,000 and $223,000 depending on unit type, although affordability levels and sales prices could change throughout the process."
"HPD partnered with Habitat for Humanity, Union Street Studio Architects, and the Interboro Community Land Trust for the project, transferring the lots to Habitat for Humanity for $1 each."
Eight new buildings are planned to create 108 co-op apartments for first-time homeowners in Bed Stuy, East New York, Brownsville, and East Flatbush. The City Council approved the request to develop vacant city-owned sites. The co-ops will be income-restricted for households earning 60 to 70 percent of Area Median Income. Sales prices are expected to range from $89,000 to $223,000. The project, named Constellation, includes family-sized apartments and will feature modern amenities. Habitat for Humanity is a key partner in the development process.
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