East Harlem is set to get a significant boost in affordable housing options with the inauguration of construction on a 433-unit project at 1760 Third Avenue, as announced by Governor Kathy Hochul. The $264 million development aims to transform a vacant former CUNY dormitory into a hub of affordable apartments, emphasizing support for individuals with mental health needs and formerly homeless youth.
The expansive project represents the first residential initiative to directly benefit from Governor Hochul's $1 billion mental health plan. In a definitive move to address the city's housing crisis, 261 of the new residences are reserved for those living with serious mental illness. These units will come with a plethora of supportive services, enabled by this innovative financing that combines state and city resources. "This development on Third Avenue will bring new life to a vacant building by transforming it into affordable apartments that over 400 households will be able to enjoy for generations to come," Hochul said in a statement obtained by the Governor's Press Office.
Breaking Ground, a project developer well-versed in economic rehabilitation will take the lead on the redevelopment. Their blueprint promises not only housing but also nuanced care, with onsite amenities like medical and mental health care, benefit consultations, and employment connections. These provisions sharply focus on the project's intent to anchor residents firmly in their community with a stable foundation.
Driving the project is an acute priority on sustainability. Energy-efficient rooftop air conditioners and a hydronic heating system are set to cut down the carbon footprint, bolstered by other eco-friendly features such as ENERGY STAR® refrigerators and water-conserving plumbing. “Transforming underutilizing buildings like 1760 Third Avenue into much-needed affordable and supportive housing is an unparalleled opportunity – not only for the individuals who will soon call it home but also for the future of adaptive reuse development in our city. We are grateful that our public and private sector partners share our vision to create hundreds of safe, stable homes while preserving and revitalizing existing infrastructure. As we begin renovations, we mark an exciting milestone in our commitment to expanding services in Harlem and ensuring more New Yorkers have access to the housing and support they need,” Brenda Rosen, President and CEO of Breaking Ground, told the Governor's Press Office.
Funding for this project comes from a diverse pool of resources, including a $75 million grant from HCR’s Supportive Housing Opportunity Program and an impressive $126 million from NYC Department of Housing Preservation and Development’s Supportive Housing Loan Program. “This $264 million development is a testament to the power of innovation in addressing New York’s housing crisis. By transforming this former college dorm into affordable and supportive homes, we can provide security, stability, and a way forward for more than 430 individuals, families, and young people in need. 1760 Third Avenue exemplifies the Governor’s commitment to creating housing opportunities that are accessible, sustainable, and supportive for all New Yorkers, particularly the most vulnerable members of our community. We thank our partners, including Breaking Ground, for their collaboration on this important project,” expressed RuthAnne Visnauskas, Commissioner of New York State Homes and Community Renewal, as noted by the Governor's Press Office.
The housing endeavor at 1760 Third Avenue aligns with Governor Hochul's sweeping $25 billion five-year Housing Plan, which aims to create or preserve up to 100,000 affordable homes across the state. For more details on this significant housing initiative, refer to the Governor’s Press Office announcement.
