HR&A examined the Habitat-NYC's Ocean Hill-Brownsvilleproject, which comprises 41 units of affordable condos. About10,000 volunteers will help construct these homes, spending moneyin the community and helping revitalize it, according to a preparedstatement. Habitat-NYC will buy supplies from local businesses; andconstruction workers, future homeowners and volunteers will buylunches in the area. Together, this is expected to channel nearly$2 million directly to Ocean Hill-Brownsville during the two-yearconstruction period. Volenteer work began September 2007.
[IMGCAP(2)]Josh Lockwood, executive director of Habitat-NYC,tells GlobeSt.com that the 53,000-sf multifamily building comprisesone-, two- and three-bedroom condos and will consist of threefour-story buildings. Construction is expected to be completed in2009.
Total development costs for the project is $13 million. A$7.3-million construction loan came from Citibank; $1.64 millioncame from the New York State Affordable Housing Corp.; $1.85million came from the New York City Affordable Housing Trust Fund;$400,000 from the Brooklyn Borough President's Office; $820,000from the Independence Community Foundation; $5.1 million in salesrevenues. The remainder is being raised through corporate,foundation and individual gifts. New York City's Department ofHousing Development and Preservation sold the land to Habitat-NYCfor $13 million.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
