Request for Media Coverage

NYS Affordable Housing Corporation (AHC) President, Staff Help Build Habitat for Humanity Homes in Brooklyn

NEW YORK, NY (10/18/2007)(readMedia)-- --

What: NYS Affordable Housing Corporation (AHC) staff, including Priscilla Almodovar,
AHC President and Chief Executive Officer, will work with Habitat for Humanity-New York City Chairman Les Bluestone, Habitat- NYC Board Member Karim Hutson, and Habitat-NYC Acting Executive Director Joshua Lockwood, and new homeowners at a construction site for a day to help build green, energy-efficient, affordable condominiums.
.
When: Friday, October 19, 2007
9:30 a.m. to 12 noon
.
Where: Atlantic Avenue between Sheridan Place and Eastern Parkway in the Ocean
Hill/Brownsville section of Brooklyn, Entrance at 26 Sherlock Place
.
(The site is bordered by Atlantic Avenue, Eastern Parkway and Sherlock Place. Enter on Sherlock Place. Please note: This is a rough construction site. Wear sturdy shoes and appropriate clothing.)
.
Contacts: Habitat-NYC: Beverly Cheuvront
Director of Communications
917-224-0969
212-991-4000 ext. 344
Bcheuvront@habitatnyc.org
.
AHC: Philip Lentz
Director of Communications
212-688-4000 ext. 679
Plentz@nyhomes.org
.
Background:
.

Habitat for Humanity-New York City, the local not-for-profit affiliate of Habitat International, is building a 41-unit affordable condominium project in the Ocean Hill/Brownsville section of Brooklyn. The NYS Affordable Housing Corporation (AHC) is providing a $1.64 million grant to help finance the $13 million development.

The Atlantic Avenue condominiums are among 107 units of affordable homeownership housing that have been developed with $3.55 million in AHC grants in partnership with Habitat-NYC.

The development is part of a pilot project with U.S. Green Building Council’s Leadership in Energy and Environmental Design for Homes (LEED-H) certification. It is also registered for Energy Star certification. The development will feature Energy Star appliances and lighting fixtures, high-efficiency boilers, and energy-efficient windows which will contribute to an estimated 30% savings on homeowners’ utility bills. The materials being used in construction are non-toxic and sustainable and the surrounding grounds will be landscaped with drought- resistant plants and permeable paving.

The subsidized prices for the one-, two-, and three-bedroom condominiums are expected to range between $70,000 and $160,000. Eligible homebuyers must earn between 45% and 80% of the Area Median Income for New York City. They will not be required to make a down payment, but instead must contribute 300 hours of labor per adult on the construction of the home.

AHC’s grant was awarded to Habitat-NYC through its partnership with the Housing Partnership Development Corporation.

Les Bluestone is a principal at the Bluestone Organization and a co-founder of Blue Sea Development Company, LLC. Karim Hutson is a partner and co-founder of the Genesis Partners Real Property. LLC.

_____

AHC, a subsidiary of the NYS Housing Finance Agency, was established in 1985 to promote homeownership by low- and moderate-income households by providing financial assistance annually by the New York State Legislature, in conjunction with other private and public investment, for the construction, acquisition, rehabilitation, and improvement of owner occupied housing.

Habitat for Humanity-New York City transforms lives and our city by uniting all New Yorkers around the cause of decent, affordable housing. With the help of an average of 10,000 volunteers every year, Habitat-NYC has built more than 170 affordable homes in the five boroughs of New York City.

-30-