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Committee recommends $63M conduit financing for 112‑unit Hunters Point Shipyard affordable housing project
Summary
The Budget & Finance Committee voted to forward a resolution approving issuance of up to $63 million in tax‑exempt multifamily housing revenue notes to support construction of 112 100% affordable units on Hunters Point Shipyard Blocks 52 & 54, a project estimated at about $133 million and scheduled to start construction in May 2023.
The Budget and Finance Committee on April 5 recommended that the Board approve issuance of tax‑exempt multifamily housing revenue notes of up to $63 million to finance a 112‑unit, 100% affordable housing development at Hunters Point Shipyard (Blocks 52 and 54).
Jasmine Kuo of the Office of Community Investment and Infrastructure (OCII)…
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