Comprehensive redevelopment of a distressed 582-unit mixed income housing development and five commercial spaces in a rapidly developing section of Brooklyn. The development was preserved as mixed-income housing while completing $25 million of extensive physical improvements with the tenants in-place, adding enhanced resident services and amenities and improving the retail mix. The development utilized ten different sources of financing including tax-exempt bonds, housing tax credits, agency credit enhancement, real estate tax and sales tax exemptions and multiple energy efficiency incentives while restructuring the existing partnership and financing.
