BRC and Camber Property Group land $97m for women’s shelter in Queens – Trade Observer

0

Bowery Residents Committee (BRC) and Camber real estate group secured $97 million in funding for beach channel playera women’s shelter in Queens, Commercial Observer may first report.

The $97 million package includes a $33 million construction loan provided by Citigroup and a $40 million residential loan provided by The Department of Housing Preservation and Development.

The shelter will be located on a 36,490 square foot lot. BRC will provide companion services at the specially designed single women’s shelter, including full-time security and maintenance staff, on-site staff offices, social services programming space, a community hall, a outdoor recreation area, bike storage and laundry room.

“This exciting project demonstrates the wise and economical use of city resources by the Adams administration to develop places of dignity where shelter and housing come together to effectively meet the needs of homeless people,” Muzzy Rosenblatt, CEO and Chairman of BRC, said. “This approach replicates BRC’s innovative Landing Road model of reinvesting income earned from a shelter to create affordable housing for low-income people. We look forward to seeing it through with our partners at Camber Property Group. »

The The Landing Road model is clinic-based and provides affordable, temporary housing opportunities for New Yorkers, with a primary focus on recovery and reintegration into the community. The shelter will include 147 units, including 125 studios and a few one- and two-bedroom units.

“Providing New Yorkers with a pathway to secure permanent and stable housing is critical to meeting our city’s most pressing needs,” said Rick Gropperco-founder and director of Camber Property Group, “We are delighted to partner with BRC, an exceptional provider of transitional and supportive housing.”

Citi officials did not immediately respond to a request for comment.

Emily Fu can be reached at [email protected].

Share.

Comments are closed.