Affordable Housing

HDR_deBlasio2BKCIA is first and foremost an affordable housing organization, which has at its core the preservation and development of housing. We have sponsored the redevelopment of over 2,240 units of housing since our inception, over 1,240 of which remain under our sponsorship.  Furthermore BKCIA’s first new construction project was completed in 2010, providing 58 units of affordable housing to homeless and low income households, with amenities including a day care center, community room and children’s play area. Since then we have continued to expand our affordable housing portfolio.  Over the past several years we expanded our affordable housing portfolio through Third Party Transfers, 7a Administrator programs, negotiated buy-outs of slum lords and consolidating ownership. Our College Avenue rehab project (image at left was taken at a press event outside the buildings) consists of three buildings, consisting of 63 units, that had accumulated over 700 building violations, and was previously owned by a known slumlord that Bill de Blasio, as Public Advocate, referred to as the city’s worst landlord. We are involved JOE NYC, where Banana Kelly and 10 other CDCs agreed to consolidate individual housing portfolios so as to stem the loss of non profit housing to the private sector. We are also in the process of performing weatherization and property assessments in our core portfolio, comprising over 20 sites, to determine building conditions. The scope of work includes roofs, windows and exterior brick; replacing boilers and performing elevator upgrades. Banana Kelly’s Healthy Living program creates new and improved healthy food outlets and venues for our residents and to build individual capacity to make their own using healthier choices. With for profit partners we secured nearly $1 million needed to take title, pay municipal arrears and make emergency repairs.  Recently we were asked by the City’s Department of Housing Preservation and Development to become involved in two other properties that were in foreclosure.  Through the City’s Third Party Transfer program we stabilized the buildings, took title, closed on financing and completed the necessary rehabilitation.  Finally, the City has asked us to become a part of a recently established Community Land Trust in upper Harlem.

If you are interested more information on our housing program please contact at 718-328-1064 or email us at info@bkcianyc.org.