890 Erskine Street
Update
05/16/24
Devs Land $110.4M Loan for East New York Affordable Project
Joint developers, Monadnock Development and Nehemiah HDFC, have just secured a $110.4 million loan for an 8-story, affordable housing project, set to rise at 890 Erskine Street in Brooklyn's East New York neighborhood. Issued by the New York City Housing Development Corporation, this influx of capital will be used to fund all construction costs from the ground up.
Dubbed "Nehemiah Spring Creek - Site 26A", the building will contain units that fall under the HPD’s Senior Affordable Rental Apartments (SARA) program. Approximately 30% of the units will be set aside for homeless seniors.
The building will also feature a 9,300 square foot, landscaped courtyard, and 2,500 square feet of community facility space. Tenant amenities are to include a fitness center, a laundry room, bicycle storage, and various onsite social welfare services.
Designed by with serving as the general contractor, the structure will stand feet tall and total square feet.
The project site spans square feet and is bound by Vandalia Avenue, Erskine Street, and Schroeders Avenue. The lot is vacant and no demolition will be required.
