By: Isabelle Elizondo On: September 18, 2023 In: Comments: 0

On November 4, 2022, NY Green Bank (“NYGB”) provided a $12.0 million predevelopment loan that will fund predevelopment expenses for services such as architecture, engineering, Housing Quality Standards (“HQS”) renovations and surveys. These services and milestones are required before the Sponsors can obtain the construction financing, they have been designated to receive as part of the New York City Housing Authority’s (“NYCHA”) Permanent Affordability Commitment Together (“PACT”) program. This designation is to rehabilitate the Frederick Samuel Apartments in Harlem.

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