New ‘Logan Fountain’ Affordable Housing Development Coming to East New York

Posted By NYC Newswire

Content Distributed by NYC Newswire

A new development project is coming to East New York. Logan Fountain will be a 13-story affordable housing development. The site is located at 265 Logan Street in East New York.

According to YIMBY, the building will be separated into two wings. The east wing will contain 69 affordable homes for low-income families earning between 50 and 70 percent area median income (AMI) and 105 homes for the formerly homeless. The west wing will comprise 169 apartments for homeless families and individuals being served by the New York City Department of Homeless Services.

Amenities for the affordable housing component will include a fitness room, a landscaped common courtyard with a children’s play area, multiple terraces with a garden area, bicycle storage rooms, and laundry rooms. For the formerly homeless families, the building will offer outdoor and indoor childcare space, bicycle storage, and a laundry room. In addition, on-site providers from The Jericho Project will provide supportive services tailored to each individual resident’s needs. HELP USA, a national social service provider for the homeless, will operate client care coordination and services for residents in the shelter.

“Logan Fountain is an innovative model for new affordable housing and transitional housing in a single sustainable building,” said Sarah Pizer, development director, The Hudson Companies. “Residents in both components of Logan Fountain will receive on-site support services tailored to their needs.”

Financing was provided through tax-exempt bonds from the NY State Housing Finance Agency along with Citi, which provided the construction period letter of credit. The package also includes a subsidy from the New York City Department of Housing Preservation and Development, funding from former council member Rafael Espinal.

Construction is set to begin in August, with an expected completion in late 2024.

Subscribe to to stay updated on housing, development, politics, entertainment and more, in East New York.

Content Distributed by: NYC Newswire

Leave a Reply

Your email address will not be published. Required fields are marked *