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April 4, 2008
Public Hearing Scheduled for 80 Dekalb Financing
Brownstoner
Today the Eagle reports that funding for the affordable housing units in one of Forest City Ratner's Brooklyn projects is looking more promising than it is for Atlantic Yards. The 34-story rental tower, as rendered above, will probably receive tax-exempt and/or taxable multifamily housing revenue bonds for 80 Dekalb's construction “not to exceed $109,500,000” from the Housing Finance Agency, which is having a public hearing about the matter on April 15th. The entire project is supposed to cost around $204 million, and at least 35 20 percent of its 365 apartments are going to be set aside as affordable rentals. As the photo on the jump shows, after a slow period last fall, work on the foundation is in full swing.
Posted by steve at April 4, 2008 5:55 AM