Fifth Avenue Committee to Bring the First Affordable Housing Development in a Decade to Sunset Park, Brooklyn

Fifth Avenue Committee (FAC)’s latest development will bring affordable homes for seniors to Brooklyn’s Sunset Park for the first time in nearly a decade.

“The housing crisis is especially acute for low-income seniors, so we wanted to focus on providing homes for them,” said FAC Project Manager Vincent DeCesare.

The proposed project would provide 84 affordable apartments for very-low income seniors in the immigrant-dense neighborhood southwest of Park Slope and Red Hook. Fifth Avenue Committee reached out to NeighborWorks Capital for a $400,000 loan for predevelopment costs for the new construction and rehab project in advance of securing a LIHTC allocation.

Increasing NWNH's construction loan to $8 million makes it one of our largest ever

Flexible financing got Spruce Ridge under construction

Participation Loan with Coastal Enterprises Improves Housing on Former Naval Base in Maine

Our first financing partnership with Coastal Enterprises, Inc. (CEI) is a participation for an acquisition of Brunswick Landing in Maine.

A Permanent Loan to Oak Hill CDC Helps Refinance and Rehabilitate Homes in Massachusetts

NC welcomes new customer Oak Hill CDC.