"The future 20-story Timbale Terrace on East 119th and Lexington Ave. will include 341 affordable units for residents earning $30,000 to $130,000 per year, 97 supportive units for formerly homeless New Yorkers and the new Casa Belongo Music and Arts Center on the ground floor and cellar. The center will total 21,000 square feet of space for performances, music lessons, community events and programming, a cafe and more."
"Casa Belongo's space in the building will be rent-free for 60 years, fortifying their place in the community for generations to come, said Emanuel Kokinakis of development firm Mega Group. Also joining Mamdani for the groundbreaking were Council Members Yusef Salaam and Elsie Encarnacion, and Assembly Member Eddie Gibbs; the onsite provider of supportive services, Lantern Organization; the financing side, including Goldman Sachs, which financed over $200 million for the project; and Casa Belongo's executive director, Marietta Ulacia."
Mayor Zohran Mamdani joined a Feb. 18 groundbreaking in East Harlem for Timbale Terrace, a 20-story mixed-use development at East 119th and Lexington Avenue. The building will include 341 affordable apartments for households earning $30,000 to $130,000 and 97 supportive units for formerly homeless New Yorkers. The ground floor and cellar will house the 21,000-square-foot Casa Belongo Music and Arts Center, offering performances, lessons, community programming and a cafe. Casa Belongo will occupy rent-free space for 60 years. Mega Group, Lantern Organization, Goldman Sachs and local officials participated in the project kickoff, which included a commemorative musical performance.
Read at www.amny.com
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