City officials joined with development partner Trinity Financial and a group of business, nonprofit and community leaders to celebrate the opening of Van Dyke III, a supportive and affordable housing development in the Brownsville neighborhood of Brooklyn. Build on New York City Housing Authority land, the 100% affordable housing project includes 179 permanently affordable residential apartments for extremely low- and low-income households.
“Van Dyke III shows what is possible when we put underused NYCHA land to work hosting housing and community facilities that support both NYCHA residents and the broader community,” said Deputy Mayor for Housing and Economic Development Vicki Been.
Budgeted at 4101.3 million overall, Van Dyke III was financed under the NYC Housing Development Corporation and NYC Housing Preservation & Development’s and HPD’s ELLA program. HDC provided $46.670 million in tax-exempt bonds and $11.7 million in corporate reserves, while HPD contributed $23.4 million in City Capital.