Radson Development closing on financing for 253-unit 100% affordable project in Far Rockaway

In December 2019, Radson Development closed on financing for the construction of two new buildings in Far Rockaway. The buildings will be a 100 percent affordable mixed-use residential project. Across both buildings, there will be 253 units and 24,000 square feet of commercial and community facility space, including housing and supportive services to formerly homeless families. Residential amenities include laundry, a community room for tenant use, bike storage and landscaped terraces.

The project is funded through public and private financing sources, including the New York City Housing Development Corporation, New Yok City Department of Housing Preservation and Development, Low Income Housing Tax Credits, with the construction loan being underwritten by Bank of America. Both buildings were designed by Magnusson Architecture and Planning.

Construction of the two buildings is expected to begin in January 2020 and to be completed by late 2021.

Real Builders completes construction on Radson Development’s Creston Parkview in Bronx

Radson Development’s 189-unit affordable housing building in the Bronx, Creston Parkview, completed construction in December 2019.  The lottery for the units launched in August 2019 by Spring Management & Leasing. The building is located at 2519 Creston Ave, adjacent to St. James Park in the Fordham Manor neighborhood, near Fordham University. The building includes 7,300 square feet of community facility space. Residential amenities include a landscaped terrace, a laundry room, and a children’s play area.

Magnusson Architecture and Planning designed the building for energy efficiency, incorporating environmentally sustainable measures. These measures include high efficiency windows, renewable building materials, improved indoor air quality, water conserving fixtures, energy efficient appliances, and LED lighting.

NYC Still Creating Affordable Housing During the #COVID19 Crisis

“This came right at the appropriate moment man” Despite the #COVID19 crisis, we’re still creating new affordable buildings, and folks are still moving into them! We caught up with William & Noemi, who just settled into Creston Parkview in #TheBronx:

Posted by NYC Department of Housing Preservation & Development (HPD) on Tuesday, June 9, 2020