Construction Type: Preservation
Primary Development Program: Affordable Neighborhood Cooperative Program (ANCP)
Developer: Asian Americans for Equality (AAFE)
244 Elizabeth street took approximately three years from initiation to construction completion. Asian Americans for Equality (AAFE), a nonprofit developer, was selected from request for qualifications (RFQ) and they selected ICM Global Design, Inc. as the general contractor. Renovation costs for the 19-unit building totaled $3.9 million. Construction loans were partially paid down through the sale of insider and vacant apartments as well as grant proceeds from the New York State Affordable Housing Corporation (AHC).