TD Bank Furthering Affordable Housing in Brooklyn
Just last week, we noted that TD banks had been replacing Commerce banks all over town. Well, they’re planning on being good neighbors indeed. According to a press release we received, they’re awarding CAMBA Housing Ventures (CHV) $100,000 for a 53-unit affordable housing development at 97 Crooke Avenue in Flatbush; McBrooklyn reported this, too. (We…
Just last week, we noted that TD banks had been replacing Commerce banks all over town. Well, they’re planning on being good neighbors indeed. According to a press release we received, they’re awarding CAMBA Housing Ventures (CHV) $100,000 for a 53-unit affordable housing development at 97 Crooke Avenue in Flatbush; McBrooklyn reported this, too. (We also learned last week that such supportive housing developments don’t negatively impact surrounding property values.) On-site at the building: case management, community rooms, and a landscaped back patio and garden. Twenty of the 53 units are aimed at folks making $30,000 or less, while 32 are targeted for “formerly homeless individuals exiting the New York City Shelter system.” The design firm is Dattner Architects, also responsible for the Catsimatidis project on Myrtle.
Welcome to them. Now if only the Powers that Be (who, exactly, I wonder?) would rescue the old, boarded-up Caledonian Hospital a few blocks away. The old building is quite handsome, with a magnificent location a block from the train and right on the park; whether they decide to repurpose it or knock it all down, right now it is a festering sore, and undoubtedly a scourge to the surrounding blocks.
A socially responsible bank…Have pigs grown wings too?
This will be permanently affordable supportive housing for homeless individuals currently living in the shelter system as well as low income people from the community.
Williamsburgguy, these will be affordable rentals.
Hmm.. Lets see. Affordable housing for someone making $30K with normal debts and low down payment is a maximum of $91K in order to conform to convention lending standards and NAR guidelines. How many of those $91K apartments do you think there will be in these buildings. My guess is none. They will price some at 300K and call them “affordable”
i think the income limitations are always so out of wack. and i think the way they pick people in these affordable housing lotteries are very shady.
It’s a start. Commendable of TD, considering the financial climate. Whether canny p.r. move, or true concern for the community, it’s needed, and they’ll gladly take it. I hope more of the business sector pitches in the near future. Everyone is needed to improve the state of the world. It will be interesting to see how the Obama administration channels a new civic responsibility.