Affordable housing laid the foundation of Related Companies and Related continues to place a high priority on developing, acquiring and preserving housing for this sector. In fact, over 60% of Related’s 50,000+ residential apartment homes under their management are part of one or more affordable housing programs, and an additional 20% of these homes provide workforce housing. Related is one of the nation’s largest developers of 80/20 rental housing in New York City, and also boasts award-winning developments in California and Chicago ranging from family, senior, urban, suburban, HOPE VI, SRO and intergenerational. Their in-house expertise in all disciplines ensures Related’s developments consistently set new standards for creative design and financing and add value to the neighborhoods where they are located.
Project Summary: The renovation will include upgrades to common areas, laundry rooms, elevators, unit interiors, management offices, building systems and building exterior. New common area amenities include a fitness center, business center and community room. Unit interiors will include new paint, flooring, kitchen cabinets, kitchen appliances, plumbing fixtures, window blinds and light fixtures.
Project Schedule: Construction is anticipated to begin on 9/11/17. The project is expected to last approximately 10 months.