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Council hears proposals for two housing projects: Kawa Towers reimagining and Christy Riverfront resolution of need
Summary
Deputy mayor and economic development staff presented two added starters: a $26M re-imagine Kawa Towers project proposing 32 units (20 rentals, 12 condos) with 100% affordability across 30%–80% AMI and a five-story, 56-unit Christy Riverfront project with 10 units at 50% AMI; both developers are pursuing near-term funding deadlines.
Council reviewed two added starters tied to redevelopment and financing deadlines.
Re‑imagine Kawa Towers (Holly and Central): Allison Lad, director of economic and housing development, said a new development team is proposing a roughly $26 million redevelopment to replace the previously terminated agreement. The plan would deliver 32 units — 20 rental units and 12 condominiums — with the presentation stressing a 100% affordable program that will include rental and home‑ownership opportunities and ground-floor retail intended for a community grocer. Lad told the council the development team needs site-control documentation to meet a Federal Home Loan Bank of New York deadline on March 20.
She summarized the scope: “The total project will be 32 units, 20 will be rental and 12 will be condos,” and staff clarified the project’s AMI targeting is “between 30% of AMI and 80% of AMI.” Economic and housing development staff identified Aman Clark and Nana Juma as project leads for city oversight.
Christy Riverfront: staff presented a companion resolution of need for a five-story, 56-unit multifamily project at 596–610 Raymond Boulevard. Allison Lad said the proposal includes 10 affordable units at 50% AMI and 56 parking spaces. The developer told the council it was seeking Aspire funding with a March 20 deadline.
Council members asked for specifics on AMI bands, condo pricing and long-term financing; staff said additional details and financing applications would be provided between the two meetings. Both items were advanced so developers could meet external funding deadlines; final ordinance and resolution adoption remain subject to review of final financing and site-control documents.
