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HRI Communities: $26 million more will convert Touro/Shakespeare into 52 deeply affordable senior apartments, council advances lease cleanups
Summary
HRI Communities told council it will close on $26,000,000 of additional investment to renovate the Touro/Shakespeare building into 52 senior affordable apartments; council approved minor lease boundary cleanups and acknowledged project stabilization so private and state capital can close.
HRI Communities told the City Council it is poised to close on an additional $26 million in private and state investment to fully renovate the Touro Shakespeare building into 52 affordable apartments for seniors, a development the nonprofit characterized as essential to expand deeply affordable senior housing.
“We are set to close, within the next 2 weeks on an additional $26,000,000 of…
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