News: Owners Developers & Managers

Ebenezer Plaza receives Housing
Partnership’s Innovation Award

Brooklyn, NY Jamie Smarr, president and CEO of the NYC Housing Partnership and Adolfo Carrion, commissioner of the New York City Department of Housing Preservation and Development presented Ebenezer Urban Ministry Center (EUMC), Brisa Builders Development LLC, Procida Development Group LLC and Evergreen City LLC with the Innovation Award for their development, Ebenezer Plaza at the non-profit’s Housing Partnership’s 41st anniversary luncheon gala on Wednesday, October 23rd.

“We are proud to recognize EUMC and Ebenezer Plaza owners’ work on Ebenezer Plaza in Brownsville, Brooklyn with the Innovation Award as part of our 41st anniversary gala,” said \Smarr. “The efforts of EUMC Senior Pastor Bishop Dr. R.C. Hugh Nelson and Ericka Keller, managing member of Brisa Builders Development are a testament to the power of collaboration between faith-based organizations and developers in creating affordable housing opportunities for New Yorkers and revitalizing neighborhoods.” 

Ebenezer Plaza in Brownsville, is a joint venture between Brisa Builders Development, EUMC, Procida Development Group, Evergreen City, and the NYC Housing Partnership. It comprises 523 affordable housing units, a 40,000 s/f House of Worship with a 1,200-seat sanctuary, and 21,000 s/f of commercial and retail space. The development also offers expanded community services, including a soup kitchen, food pantry, educational programs for adults and children, computer training, and family counseling. 

The total capitalization of the transaction is $300 million.

The Housing Partnership’s luncheon gala brought together stakeholders in the City’s affordable housing community, including developers, architects, attorneys, lenders, faith leaders, and affordable housing advocates. The event featured New York Times national columnist and author Charles Blow as a special guest speaker.

“We are truly honored to be recognized by the NYC Housing Partnership for the innovative contribution to the deliverance of affordable housing in NYC through a faith-based collaboration at their 41st Anniversary Annual Gala. We have continually respected the work of the NYC Housing Partnership in the housing sphere and value the support they provided to the success of this project.” Ericka Keller, managing member, Brisa Builders Development LLC. 

The Housing Partnership is a 501(c)3 nonprofit organization that serves as an intermediary among public agencies, developers, financial institutions and residents to increase opportunities for quality affordable housing to low- and moderate-income households in New York City.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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).
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
Hunt Commercial Real Estate Question and Answer:  Evaluating the buyer - by David Hunt

Hunt Commercial Real Estate Question and Answer: Evaluating the buyer - by David Hunt

The Purchaser: This is usually a subjective decision. As an example, a large public company may be a desirable purchaser because it is financially strong, but
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