Bushwick Alliance

About the project


The project, Bushwick Alliance, is a partnership between St. Nicks Alliance Corporation and RiseBoro Community Partnership, and is the latest contribution to both organizations' missions to provide holistic social service programs to support their affordable housing portfolios throughout North Brooklyn and New York City. 

Since its founding in 1975, St. Nicks Alliance Corporation has striven to preserve and improve communities by fostering opportunities for employment, education, housing, and healthcare in underserved communities. With a focus on grassroots organizing, St. Nicks promotes transformative change that puts community at the center of everything they do. 

Since 1973, RiseBoro Community Partnership has offered services designed to support every generation and meet the needs of communities. Their unique model of holistic community revitalization works by developing neighborhood assets, like affordable housing, to create the foundation for a more vibrant and diverse community. RiseBoro has been responsible for the development of several thousand units of affordable housing, ranging from single-family homes to scattered site rehabs to large mixed use developments. 

St. Nicks Alliance Corporation and RiseBoro Community Partnership are headquartered in Brooklyn, New York.

LISC provided $500,000 in predevelopment funding to finance the construction of 28 units of affordable housing in three new buildings in Bushwick, Brooklyn. The first building will be a 4-story, 20-unit all-electric Passive House building on the currently vacant lot at 63 Stockholm Street. The other two buildings will be smaller, 4-unit buildings on 332 Eldert Street and 272 Jefferson Street. The buildings will be affordable rentals for extremely low, low, and moderate-income families, and they will be built with high-efficiency energy systems. All units are affordable to families and individuals with incomes from 27% to 77% AMI. Additionally, four of the apartments will be set aside for formerly unhoused individuals or families. 

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More LISC Lending's Project Profiles

Partner:

St. Nicks Alliance Corporation &
RiseBoro Community Partnership

Location:

Brooklyn, NY

Total Investment:

$500,000

Results:

28 units

Project Category:

Affordable Housing

Product:

Predevelopment loan

Website:

stnicksalliance.org
riseboro.org

UN SDGs: