The largest private affordable housing initiative in Harlem took a major step forward today as the City Planning Commission voted 11-1 (with one abstention) to approve the plan for Lenox Terrace.
More
than 60 years after The Olnick Organization built Lenox Terrace, the
plan will add approximately 400-500 affordable apartments – including
some 160 units available to people earning minimum wage – new
neighborhood-focused shops and restaurants, six acres of landscaped
green space, and a wide array of amenities available to all Lenox
Terrace residents, all at no additional cost to current residents.
The
project is expected to create over 2,700 on-site construction jobs and
300 permanent jobs, and result in the spending of several hundred
million dollars at area businesses. It also will include a new home and
urban farm space for Harlem Grown, the beloved community-based
nonprofit.
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Source: Real Estate Weekly
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