Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
OCII approves ENA and predevelopment loan for 112-unit Hunters Point family housing project
Summary
The Commission authorized an exclusive negotiations agreement and amended predevelopment loan with Jonathan Rose Companies’ team to advance a 112-unit affordable family rental project at Hunters Point Shipyard Blocks 52 and 54, with a $3.65 million amended predevelopment loan and community support from the Hunters Point CAC.
The Commission on Community Investment and Infrastructure on April 6 authorized an exclusive negotiations agreement (ENA) and an amended and restated predevelopment loan with the newly selected lead developer for Hunters Point Shipyard Blocks 52 and 54.
Elizabeth Colomelo, senior development specialist with OCII’s housing division, told commissioners the project will deliver 112 affordable family rental units, including one manager’s unit, and a mix of one-, two- and three-bedroom apartments as well as several four- and five-bedroom units retained to meet replacement requirements from prior projects. She said incomes will be targeted at 30–50% of area median…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
