Completed in 2013, this $84 million, 195 unit, sustainably designed, two-building complex of was born out of a highly competitive RFP process through NYC’s Department of Housing Preservation and Development. Having weathered the economic recession of 2008 and Superstorm Sandy in 2012 this development was made possible though the successful structuring of a highly complex financing, utilizing HDC’s LAMP and HPD’s LIRP programs, New York City RESO-A funds and private contributions.
The resultant 9 and 12 story residential buildings contain a mix of studios, one and two bedroom units for rent to households earning up to 60% AMI as well as an enclosed parking structure with a rooftop recreation area. The project also proudly incorporates a 42,500 square foot YMCA that was heavily informed by a community design process and includes an aquatic center, a full court gymnasium and fitness and multi-purpose rooms.
The project participated in the NYSERDA Multifamily Performance Program and incorporated strategies to conserve energy and promote healthy living, including green roofs planted with natural grasses and native wildflowers.
In 2014, Coney Island Commons won the prestigious Build Brooklyn Award for Community Development from the Brooklyn Chamber of Commerce, awarded to projects that enrich Brooklyn’s neighborhoods and economy. Coney Island Commons was also honored with NYSAFAH’s 2014 Awards for Excellence as Downstate Project of the Year.