HPD, HUD, AND ELECTED OFFICIALS JOIN CYPRESS HILLS LOCAL DEVELOPMENT CORPORATION TO CELEBRATE THE START OF CONSTRUCTION ON CYPRESS SENIOR HOUSING RESIDENCES

Brooklyn, New York – The New York City Department of Housing Preservation and Development (HPD), U.S. Department of Homes and Urban Development (HUD), Congresswoman Nydia M. Velázquez, New York State Assembly Member Erik Martin Dilan, New York State Senator Martin Malave Dilan, and New York City Council Member Rafael Espinal, join Cypress Hills Local Development Corporation, Inc. and development partners to celebrate the start of construction on Cypress Senior Housing Residences. The new development will be constructed at 137 Jamaica Avenue in Brooklyn on vacant land formerly owned by the City of New York. Once constructed, the building will include a total of 53 affordable apartments for very low-income households in which the head of household is 62 years of age or older.

“It’s a good day whenever we put shovels in the ground for the affordable housing New Yorkers need. This isn’t just a building. It’s going to be a home and a part of this community. It means low-income seniors, so hard-hit by the rising rents in Brooklyn, will be able to stay in their community,”Mayor Bill de Blasio said. “We are committed to keeping East New York affordable and making sure that new housing meets the needs of the families who live here today. We’re proud to work with our community partners and local officials to get this project under way.”

HPD Commissioner Vicki Been said, “We must do more to provide safe and affordable housing for our fast growing senior population — our parents and grandparents who helped build this great City. Cypress Senior Housing is exactly the type of development this administration envisioned in recommending much-needed changes to the City’s zoning code– stable and quality homes for seniors in their communities. Indeed, the building developers were forced to seek exemptions to the City’s zoning code to build what will soon be a beautiful addition to the neighborhood. I would like to thank our partners at Cypress Hills Local Development Corp., the U.S. Department of Housing and Urban Development, Congresswoman Nydia Velasquez, Council Member Rafael Espinal, State Senator Dilan, and Assembly Member Dilan for their commitment to making New York City affordable for all New Yorkers.”

“HUD’s Section 202 program has financed nearly 25,000 units of affordable housing for New York City’s seniors since its inception in 1959,” said Holly Leicht, HUD Regional Administrator for New York and New Jersey. “Yet since 2011, Congress has not funded this successful and critically important program, despite a growing senior population nationwide. I fervently hope that the Cypress Hills Senior Housing Project will not only be a model of affordable, environmentally sustainable senior housing for this neighborhood, but will highlight more broadly how essential the 202 program is for America’s seniors. What a travesty if this is the last development of its kind in New York City.”

Rep. Nydia M. Velázquez (D-NY) said: “Ensuring there are affordable housing options in New York is a never ending challenge and this project will expand affordable housing availability for seniors in our community. I will continue working with HUD and my colleagues in Congress to push for additional resources for critical initiatives like these.”

“I’m honored to be a part of the groundbreaking for the Cypress Hills Senior Housing Project, the first housing project dedicated to seniors to be built in Cypress Hills. Finding affordable housing is a difficulty faced by many in our community and throughout the city, but it is especially difficult for our seniors, many of whom live on a fixed income and are forced to choose between paying rent and paying for life-saving medicine. While we are talking about re-zonings, we must remember that we have an obligation to ensure our seniors—those who built the communities we live in today–don’t have to make this choice. Life in New York City for older residents is hard enough, and thanks to organizations like CHLDC, life for many of our seniors will be a little bit easier. I look forward to the opening of this incredible project and hope to see many more developed in the future,” stated Council Member Rafael L. Espinal, Jr.

“Finally! This project has been in the works for a long time and would like to thank Cypress Hills Local Development Corporation, NYC Department of Housing Preservation and Development, United States Department of Housing and Urban Development and all involved for making this important housing development happen,” said New York State Assembly Member Erik Martin Dilan. “This project will take an old city water pumping station and turn it into affordable housing for seniors that is consistent with our values in Cypress Hills.”

“Today’s groundbreaking is yet another success story in Cypress Hills Local Development Corporation’s decades of critical community work. Not only has Cypress Hills set out to provide much-needed affordable senior housing in the community with its Jamaica Avenue Senior Housing Project, they have gone above and beyond through environmentally conscious and aesthetic design that is tailored to a modern standard of living complete with access to technology and green space,” said Senator Martin Malavé Dilan.

“As a neighborhood-governed, not-for-profit community development organization, we couldn’t be prouder to start construction of this long-awaited and deeply affordable housing development for senior citizens in the Cypress Hills/East New York community. We have a wide-array of support services and activities planned for our residents in addition to brand new, energy efficient apartments,” said Harold Green, President of the Board of Directors of the Cypress Hills Local Development Corporation. “Our organization is deeply grateful to the U.S. Department of Housing and Urban Development, NYC Department of Housing and Urban Development, National Equity Fund, the Rosenback Fund, Congresswoman Nydia Velazquez, Borough President Eric Adams, State Senator Martin Malave Dilan, Assemblyman Erik Martin Dilan and Council Member Rafael Espinal for their support, funding and on-going partnership. They are true champions of affordable housing, supportive housing for the elderly and the rebirth of our neighborhood!”

“LISC NYC congratulates our long-time community partner Cypress Hills LDC on launching construction of Cypress Hills Senior Housing, which will provide much needed safe, affordable housing for some of our city’s most vulnerable senior residents,” said Sam Marks, Executive Director of LISC NYC. “Cypress Hills LDC has long recognized the need for environmentally-friendly housing with community spaces designed for senior residents, and LISC is pleased to have helped make this project possible through a $682,000 predevelopment loan, a $100,000 grant and an $8.5 million tax credit equity investment from TD Bank through our affiliate, the National Equity Fund.”

The construction of the Cypress Senior Housing development has been financed under the Mayor Bill de Blasio’s Housing New York: A Five-Borough, 10-Year Housing Plan. The most comprehensive affordable housing plan in the City’s history and largest municipal housing plan in the nation, its goal is to create and preserve 200,000 units of affordable housing for very low- and middle-income families to help address New York City’s affordability crisis.

The development will be designed by Heitler Houston Architects and will feature a number of energy-efficient systems and accessories including energy-efficient boilers, extra thermal insulation in walls and roof to ensure a tight building envelope, and Energy Star light fixtures and appliances in all apartments. The building is expected to achieve a LEED for Homes Silver certification from the U.S. Green Building Council. Steven Winter Associates will act as the sustainability consultant on this project.

Cypress Senior Housing Residences will be a five-story building with 53 units of affordable housing. All of the 53 apartments available for rent will be affordable to very low-income senior households in which the head of household is 62 years of age and older. These apartments will be affordable to households earning an annual income up to $30,250 for an individual, or $38,850 for a family of three. The above incomes are set according to the U.S. Department of Housing and Urban Development’s (HUD) 2015 calculations. There will also be one two-bedroom apartment for an onsite superintendent.

The total development cost of this project will be approximately $20,597,952. The development will receive $8.9 million in HUD Section 202 funds. HPD will provide $2.3 million in City Capital and contribute Low-Income Housing Tax Credits. The National Equity Fund will act as tax credit investor. The project will receive $600,000 in Reso A. The project will also receive $137,526 from the New York State Energy Research and Development Authority (NYSERDA).

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New York City Department of Housing Preservation and Development (HPD):

The New York City Department of Housing Preservation and Development (HPD) is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and educational programs for tenants and building owners. HPD is tasked with fulfilling Mayor de Blasio’s Housing New York: A Five-Borough Ten-Year Plan to create and preserve 200,000 affordable units for New Yorkers at the very lowest incomes to those in the middle class. For more information visit www.nyc.gov/hpd and for regular updates on HPD news and services, connect with us via www.facebook.com/nychpd andwww.twitter.com/nychousing.

Cypress Hills Local Development Corporation (CHLDC):

Cypress Hills Local Development Corporation is a 32-year-old community-based organization, providing comprehensive services to the community of Cypress Hills/East New York Brooklyn. Local residents and merchants founded CHLDC in 1983 to improve their community. Today, we serve over 10,000 local residents each year through a wide array of programs. With community residents leading the way, the mission of CHLDC is to build a strong, sustainable Cypress Hills/East New York, where youth and adults achieve educational and economic success, secure affordable housing and develop leadership skills to transform their lives and community.

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