davidlayfield

DSHA QAP Comments by David Layfield

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Originally Reported by Philip Lentz and James Plastiras on behalf of the New York State Housing Authority

“The boards of the New York State Housing Finance Agency (HFA) and the Affordable Housing Corporation (AHC) approved $258.4 million in financings to create and preserve 1,347 units of housing.”

Additionally, “the Housing Trust Fund Corporation (HTFC) approved more than $4.7 million in awards through New York State’s Subprime Foreclosure Prevention Services Program and Community Development Block Grant Program (NYS CDBG).”

Highlights of the financing are as follows:

The largest amount of financing was awarded to an entity controlled by Mount Sinai Hospital. The entity received $158 million in financing for a 41-story 232-unit new construction project in upper Manhattan.

Entities controlled by Omni New York LLC received a total of $52.8 million for two renovation and rehabilitation projects in the Bronx.

Outside of NYC, there were two substantial financings: $21.9 million in financing to Conifer Twin Oaks to acquire and renovate Twin Oaks Apartments in the village of Hempstead on Long Island, and $15.3 million in financing awarded to an entity controlled by Liberty Affordable Housing to acquire and renovate Kennedy Plaza in Utica.

Read the full story here: NYS Housing Agencies Approve $263M in Financings and Awards

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