East New York Urban Village Opens 385 Affordable Homes, Tops Out 453 More

The first phase of Innovative Urban Village, a planned community of nearly 2,000 permanently affordable homes on the Christian Cultural Center campus in East New York, Brooklyn, opened on October 15 with 385 apartments, while the 453 home second phase topped out the same day, Governor Kathy Hochul's office announced.

What Happened

Governor Hochul and New York City Mayor Zohran Kwame Mamdani joined developers Gotham Organization and Monadnock Development, the Christian Cultural Center (CCC) and elected officials for a ribbon cutting on Phase 1A and a topping out of Phase 1B Office of the Governor. Hochul called the project "a huge milestone" for East New York. Mamdani said, "Every New Yorker deserves a safe, stable and affordable place to call home" Office of the Governor.

The unit count for the first phase differs slightly between sources. The governor's release gives 385 homes for Phase 1A, while BKReader reported 386 BKReader. Together, the first two phases total more than 830 homes.

The Project

Innovative Urban Village sits on CCC's 10.5 acre campus. At full buildout, it is planned for nearly 2,000 permanently affordable homes in 10 buildings, along with child care, community programming, workforce development, a performing arts center, neighborhood retail, about three acres of publicly accessible open space and new streets and pedestrian routes Office of the Governor.

CCC selected Gotham Organization as its development partner through a request for proposals in 2018. The partners then spent five years working with residents, community groups and city officials, and the project received full land use approvals in 2022. "It turns that belief into a lived reality," said Rev. A.R. Bernard, CCC's founder and senior pastor. Gotham Organization President Bryan Kelly described the opening as "the first piece of a community."

Phase 1A: Now Open

The first phase includes 385 permanently affordable apartments for households earning 30 to 80 percent of area median income Office of the Governor. Of those, 94 are set aside for households eligible for on site supportive services, including people who have experienced homelessness and survivors of domestic violence. The phase also includes about 17,000 square feet of community retail and commercial space, planned for fresh and prepared food, health care and pharmacy, and dining.

Phase 1A was designed by Practice for Architecture and Urbanism (PAU) and SLCE Architects. Its building systems include all electric heating and cooling, solar panels, green roofs with drought resistant plantings, electric vehicle charging stations, low flow fixtures, LED lighting and ENERGY STAR appliances Office of the Governor. BKReader also highlighted the all electric systems, solar and green roofs among the project's features BKReader.

How Phase 1A Was Financed

The first phase cost about $270 million Office of the Governor. Its financing included:

• Federal Low Income Housing Tax Credits allocated by New York State Homes and Community Renewal (HCR), expected to generate more than $115 million in equity.
• More than $47 million in HCR subsidy.
• Investment from Goldman Sachs Alternatives' Urban Investment Group.
• Support from the New York City Department of Housing Preservation and Development (HPD).
• Operating funding for the supportive apartments through the Empire State Supportive Housing Initiative, administered by the state Office of Temporary and Disability Assistance.

Senator Charles Schumer pointed to the tax credit's role, crediting it with generating the $115 million in equity. HCR Commissioner RuthAnne Visnauskas called the project "a community driven vision becoming reality."

Phase 1B: Topped Out

The second phase will add 453 affordable homes, 12,600 square feet of community facility space for child care, 10,250 square feet of retail and commercial space, and a playground Office of the Governor. Its financing partners are JPMorgan Chase, the New York City Housing Development Corporation, Red Stone Equity Partners and HPD. The release did not give a cost or income mix for Phase 1B.

BKReader, citing News 12, reported that the second phase is expected to open in spring 2027 BKReader. The governor's release did not name a general contractor for either phase. A statement in the release from Council Member Chris Banks refers to "Monadnock Construction," while the rest of the release identifies the developer as Monadnock Development.

Policy Context

The milestones arrive as both the city and state push to raise housing production. BKReader noted that Mamdani's "Block by Block" housing plan, released in May, calls for 200,000 new affordable homes over 10 years and preservation of another 200,000 BKReader. The mayor's early housing actions were covered here in January in our report on his day one housing orders.

What Officials Said

The project drew a wide range of supporters. State Senator Roxanne J. Persaud called the opening "a huge step forward," and Assemblymember Nikki Lucas described it as "an important milestone" Office of the Governor. Lucas also said the development will help ensure families "can continue to live, work and thrive here" BKReader. Brooklyn Borough President Antonio Reynoso called Innovative Urban Village "a landmark development," and Council Member Chris Banks, who represents the 42nd District, said it was "an important step" toward addressing the housing crisis.

Private partners spoke as well. Goldman Sachs Chairman and CEO David Solomon, whose firm's Urban Investment Group invested in the first phase, described the project as "a powerful example" of a shared commitment to opportunity. House Democratic Leader Hakeem Jeffries tied affordable housing to the basic elements of a good life, and Senator Kirsten Gillibrand said, "Every family deserves a safe and affordable place to call home." Taken together, the statements show city, state and federal officials, a large bank and a faith institution all backing the same multi phase plan, an alignment that matters for a project with most of its nearly 2,000 homes still to be financed and built.

Implications for Owners, Developers, Contractors and Subs

• Institutional land is a housing source. A congregation's 10.5 acre campus is becoming a neighborhood of nearly 2,000 homes. Faith based and institutional landowners across the state hold sites that can support similar partnerships.
• Phased megaprojects create steady pipelines. With two phases open or topped out and more than 1,100 additional homes planned toward full buildout, the project offers years of work for trades that perform well early.
• All electric is now standard on subsidized work. All electric heating and cooling, solar, green roofs and EV charging are baked into the first phase. Mechanical, electrical and roofing subs bidding affordable housing in New York should expect these scopes as a baseline.
• Capital stacks are layered. Tax credit equity, state subsidy, city subsidy, bank debt and supportive housing operating money all sit in one phase, which means long closings and strict compliance requirements for contractors.
• Ground floor uses matter. Retail, child care and community space add specialty fitout work and separate tenant schedules to the residential scope.

What to Watch

• Completion and lease up of Phase 1B, expected in spring 2027.
• Financing and design announcements for the remaining buildings toward the nearly 2,000 home buildout.
• Progress on the performing arts center and the three acres of open space.

Bottom Line

East New York's Innovative Urban Village now has its first 385 homes open and another 453 topped out, backed by a roughly $270 million first phase financed with tax credits and state and city subsidy. It is a large scale affordable housing effort and a model for what institutional landowners and private developers can build together. Upstate, a smaller version of the same affordable and supportive housing model opened recently in Rochester, as covered in our report on True North Apartments.

Related Coverage

• NYC Mayor Mamdani Housing Orders Day One Accelerate Construction
• True North Apartments Opens: $39M Affordable Housing and Wellness Clinic in Northeast Rochester
• U.S. Housing Supply Gap Widens to 4 Million Homes as New Construction Falls Short of Demand
• Pace University Completes $200M Performing Arts Center in Lower Manhattan

Image credit: Office of the Governor, ribbon cutting at Innovative Urban Village in East New York. Image from the source article.

Sources

• Office of the Governor, "Governor Hochul and Mayor Mamdani Celebrate Major Affordable Housing Milestones in East New York": https://www.governor.ny.gov/news/governor-hochul-and-mayor-mamdani-celebrate-major-affordable-housing-milestones-east-new-york
• BKReader, "386 Affordable Housing Units Open in East New York": https://www.bkreader.com/policy-government/386-affordable-housing-units-open-in-east-new-york-12901680