FAC HDFC Cluster
About the project
Fifth Avenue Committee (FAC) was established in 1978 in an effort to promote and provide comprehensive community development programs in New York City. Over forty years later, FAC continues to build equitable environments where all people can live in stable and thriving communities that are inclusive, healthy, and sustainable.
FAC is located in Brooklyn, NY.
LISC provided $3.39 million in construction financing to support the FAC Cluster HDFC project, which is a scattered site project consisting of twelve (12) buildings spread across five (5) ownership entities totaling 102 units in Prospect Heights, Park Slope, Cobble Hill, Gowanus and Sunset Park neighborhoods of Brooklyn, NY. The buildings were built between 1900 and 1931. This redevelopment will lock in long term affordability for the existing tenants as well as new households, while providing comprehensive renovations of the buildings and apartments. The project will be financed through HPD’s Green Housing Preservation Program (GHPP)."
Partner:
Fifth Avenue Committee
Location:
Brooklyn, NY
Total Investment:
$3.39 million
Results:
102 units
Social Bond Category:
Affordable Housing
Product:
Construction loan
Website:
UN SDGs:
