FOR IMMEDIATE RELEASE: Thursday, May 4, 2017
CONTACT: Stephanie Mavronicolas (HDC), smavronicolas@nychdc.com
Juliet Pierre-Antoine (HPD), morrisj@hpd.nyc.gov

 

CITY OFFICIALS JOIN ARTIMUS AND PARTNERS TO CELEBRATE THE START OF CONSTRUCTION AT ROBERT FULTON HOUSES, A 160 UNIT NEW AFFORDABLE HOUSING DEVELOPMENT

 

New York, N.Y. – New York City Deputy Mayor Alicia Glen, the New York City Housing Authority (NYCHA) Chair and CEO Shola Olatoye, New York City Department of Housing Preservation and Development (HPD) Commissioner Maria Torres-Springer, and New York City Housing Development Corporation (HDC) President Eric Enderlin joined the leaders of Artimus and project partners at a groundbreaking ceremony to celebrate the start of construction on a new 100% affordable housing development on the grounds of the New York City Housing Authority’s (NYCHA) Robert Fulton Houses site. The new 160 unit, mixed-income building will be permanently affordable housing located in the Chelsea neighborhood of Manhattan. 

“NYCHA is proud to partner with the Mayor's office, HPD, HDC and Artimus as we work towards providing residents safe, clean and connected communities,” said NYCHA Chair and CEO Shola Olatoye. “New York City is facing a serious housing crisis and this new project at Fulton Houses will help address some of that burden with 160 new permanently affordable units for the city’s low-income residents.”

“This new development will bring 160 permanently affordable homes to Chelsea and I’m thrilled to celebrate its groundbreaking,” said HPD Commissioner Maria Torres-Springer. “This project exemplifies the vision laid out by the Mayor and the Deputy Mayor in Housing New York, to foster inter-agency collaboration and bring all parties to the table to solve this City’s housing crisis. Further, this project was guided by a transformative approach to community engagement, one that ensures the community has a voice from the start and allows their vision and priorities to guide the path forward. Thank you to the all of the community members, the Deputy Mayor, and the teams at NYCHA, HPD, and HDC for their work to make this exciting development a reality.”

"By bringing 100% permanent affordability to 160 households at the new Robert Fulton Houses development, the City is providing economic security to families and fostering the economic diversity that is the hallmark of our great City,” said HDC President Eric Enderlin. “Thanks to all of our partners at Artimus Construction, K+R Realty Management, JPMorgan Chase, NYCHA, HPD, and of course, the Mayor's office for their contributions and ongoing support of this great project."

State Senator Brad Hoylman said, "the work beginning here at the Robert Fulton Houses is just what we need in New York City: 100% permanently affordable housing for working families across a range of incomes. For the families that will soon call Chelsea home, particularly those that have spent years on NYCHA waiting lists, these units represent an opportunity to build a better life. My thanks to Mayor de Blasio, HPD Commissioner Torres-Springer, NYCHA Chair Olatoye, my elected colleagues, Community Board 4, and especially Miguel Acavedo for his leadership of the resident community here at Fulton Houses."

"Manhattan Community Board 4 (MCB4) is proud to have worked alongside our local elected officials, the residents of Fulton Houses, NYCHA, HPD, Artimus Construction and other stake holders culminating in this milestone project,” said CB4 Chair Delores Rubin. “Our Board has been a longtime advocate for affordable housing so we are thrilled that as a result of our advocacy and the West Chelsea rezoning negotiations to see this Administration fulfill its commitment to deliver permanent affordable housing at NYCHA’s Fulton Development. MCB4 looks forward to continuing to work with the Developer Artimus, the residents of Fulton Houses, and the City during the next stages of this project. "

The new development will be constructed on one of three underutilized NYCHA-owned sites announced through a joint HPD and NYCHA West Side Sites Request for Proposals (RFP) issued in December 2006. The RFP was intended to develop mixed income housing on underused sites across three NYCHA Campuses - Fulton Houses, Chelsea-Elliot, and Harborview Terrace. Artimus was awarded the Fulton Houses and Chelsea-Elliot sites in 2007. The approximate 11,000 square foot site on the Fulton Houses NYCHA campus was occupied by a trash compactor and parking lot. In addition to purchasing a new trash compactor for an alternate location on the campus, Artimus committed to making capital improvements throughout the public housing campus, including upgrades to the basketball court and children’s playground, and the reconfiguration of parking to ensure parking availability for all current NYCHA parking permit holders. 

Located in Manhattan Community District 4, the project site is bound by West 33rd Street to the north, 14th Street to the south, the Hudson River to the west and Sixth Avenue to the east. The site is located in a transit rich area with access to multiple subways, the crosstown bus on 14th and two-blocks from the West Side Highway.

The project will be an eighteen story residential building with landscaped rooftop and outdoor recreational areas for resident use. Approximately 8,000 square feet of community facility space will also be included. All 160 units will be permanently affordable and include a mix of studio, one-bedroom, and two-bedroom units. The project is financed under HPD and HDC’S M2 Program. The apartments will be affordable to a wide range of incomes – from $33,400 to $110,220 for an individual, and from $42,950 to $141,735 for a family of three. There will be a 25% preference for NYCHA residents. All other apartments will be made available through the housing lottery system.

Total development cost for the project is approximately $77.8 million. HDC provided $30.03 million in bonds and $10.74 million from corporate reserves. HPD provided $26.97 million in capital reserves. JPMorgan Chase will provide a letter of credit. NYCHA will retain ownership of the land and will provide a 99 year lease to developer. 

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The New York City Department of Housing Preservation and Development (HPD):
The New York City Department of Housing Preservation and Development (HPD) is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and educational programs for tenants and building owners. HPD is tasked with fulfilling Mayor de Blasio’s Housing New York: A Five-Borough Ten-Year Plan to create and preserve 200,000 affordable units for New Yorkers at the very lowest incomes to those in the middle class. For more information visit www.nyc.gov/hpd and for regular updates on HPD news and services, connect with us on Facebook, Twitter, and Instagram @NYCHousing.

The New York City Housing Development Corporation (HDC):
Since 2000, the New York City Housing Development Corporation (HDC) has issued roughly 10% of all the multifamily housing revenue bonds in the U.S. From 2003 through 2013, HDC issued over $10 billion in bonds, including more than $6.7 billion in new tax-exempt private activity bonds to finance affordable housing developments. In addition, HDC has provided more than $1 billion in cash to help make the housing the City finances more affordable. In Affordable Housing Finance magazine’s annual listing of the nation’s top ten funders of multifamily housing, HDC is the only municipal entity on the list. In 2013, HDC was the third largest affordable housing lender in the U.S. after Citi and Wells Fargo.

The New York City Housing Authority (NYCHA):
NYCHA’s mission is to increase opportunities for low- and moderate-income New Yorkers by providing safe, affordable housing and facilitating access to social and community services. More than 400,000 New Yorkers reside in NYCHA’s 326 public housing developments around the five boroughs, and another 235,000 receive subsidized rental assistance in private homes through the NYCHA-administered Section 8 Leased Housing Program. For more information, visit www.nyc.gov/nycha and for regular updates on NYCHA news and services, connect with us via www.facebook.com/NYCHA and www.twitter.com/NYCHA.