News: Owners Developers & Managers

CHI and Mayor Delfino hosts ribbon cutting for Minerva Place

On December 15, Community Housing Innovations (CHI), along with White Plains Mayor Joseph Delfino, hosted a ribbon-cutting for Minerva Place Condominiums, celebrating the city's most energy-efficient residence. The units, which are being purchased by homeowners who are part of the local workforce, were developed, constructed and marketed by Community Housing Innovations, Inc., a White Plains-based nonprofit organization founded in 1991. Minerva Place Condominiums is praised as the most energy-efficient residence in White Plains, featuring the city's first GeoExchange system for heating and cooling. Eight wells, each 360 feet deep, draw energy from the earth for heating and cooling, using a ground source heat pump system. In addition to a GeoExchange system that uses the constant temperature of the earth to heat and cool the building, Minerva Place Condominiums features energy-efficient construction techniques, insulation, plumbing and lighting upgrades that are projected to save homebuyers approximately 30% on energy costs, compared to a typical new development. The project architect was Warshauer Mellusi Warshauer Architects, P.C. The modular builder was Deluxe Building Systems, Inc. The lender was TD Bank, N.A. White Plains donated land and about $75,000 per unit in subsidy from its Affordable Housing Fund. NYSERDA is projected to contribute about $55,000 toward the energy-saving improvements. "In these difficult economic times, I am proud to say White Plains has options to elevate families into home ownership," said Mayor Delfino. "These condos will fill a critical workforce housing need in White Plains." "It is a testament to the dedication of the city, our lender and construction professionals that we were able to deliver the building below budget when it is needed most and use the savings to increase energy efficiency, upgrade the landscaping, and improve common areas," stated Frank Zisa, CHI's director of development, who oversaw the project.
MORE FROM Owners Developers & Managers

West 55th Street: The missing files and where Tony Bennett Lived - by Joseph Aquino

New York has a way of hiding its history in plain sight. People walk past buildings every day without realizing that behind their brick and stone facades are thousands of stories. Some belong to celebrities. Most belong to ordinary New Yorkers whose lives quietly become part of the city’s history.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Hunt Commercial Real Estate Q&A:  Location, location, location? - by David Hunt

Hunt Commercial Real Estate Q&A: Location, location, location? - by David Hunt

In working with our clients, we break down our search objectives into two categories. The first category involves the specific needs of your business such as warehouse height, amount of office space and number of loading
IREON Insights:  Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

IREON Insights: Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

If you are a company that either claimed or qualify for the research and development tax credit you need to be aware of the following update resulting from the One Big Beautiful Bill Act (OBBBA).
NYC's Community Opportunity to Purchase Act is back - and multifamily owners should pay attention - by  Ron Cohen

NYC's Community Opportunity to Purchase Act is back - and multifamily owners should pay attention - by Ron Cohen

New York City’s Community Opportunity to Purchase Act (COPA) is back, and this latest version could have a much better chance of becoming law. The proposal would give qualified nonprofit organizations
Follow the upside: How NYC  investors are rethinking real estate - by Thomas Donovan

Follow the upside: How NYC investors are rethinking real estate - by Thomas Donovan

In my earlier years of brokerage, my team had our investor list divided into five brackets – multifamily, retail, office, industrial and development. For the most part, multifamily investors only wanted to see multifamily