TIL PILOT PROGRAM (12/23/2009)

TIL PILOT PROGRAM

East Harlem, for the most part, is a rental housing community; over the past decade various Home Ownership programs, have made affordable homeownership a possibility and a reality for some residents.  EBOF has taken a  role in the development and sale in some  of these projects in East Harlem and will continue that effort to create affordable homeownership in East Harlem.  Fightback has entered into a net lease agreement with the City of New York for the development and conversion of a building in the Tenant Interim Lease Program (TIL) into an affordable cooperative. 

Develop 9 units of affordable cooperative housing, including 2 commercial spaces, with a focus on affordable homeownership opportunities at 152 East 116th Street 

Sales at below 80%AMI

  1  1 Bedroom
  7  2 Bedroom
  1  3 Bedroom 

 

Measures of project completion and occupancy:

 

152 E. 116th St. Project Baseline Project Completion (%) Occupancy Property Management
 
Pre-Dev.
Relocation
Construction
Marketing
Sales
Closing
2009
100%
0%
0%
0%
0%
0%
2010  '11
   
100%  
50% 100%
100%  
44% 100%
  100%
  2010  '11  '12  '13
         
Tenant 44% 66% 100%  
Commercial 50% 100% 100%  
EBOF Mgt 100% 100% 100% 0%
Tenant Coop       100%
         

TIL PILOT PROGRAM (12/23/2009)
TIL PILOT PROGRAM East Harlem, for the most part, is a rental housing community; over the past decade various Home Ownership programs, have made affordable homeownership a possibility and a reality for some residents.  EBOF has taken a  role in the development and sale in some  of th ...More

El Barrio Artspace - P.S. 109 PROJECT (12/23/2009)
El Barrio Artspace - P.S. 109 PROJECT (HOUSING FOR ARTIST LIVE / WORK SPACE) East Harlem has a history of talent and cultural nurturing of its music, art and dance. However, the support for affordable housing for artist is lacking throughout New York City and lacking the focus and attention th ...More

EAST 125th STREET PROJECT (12/23/2009)
EAST 125TH STREET PROJECT (MEDIA / ENTERTAINMENT / CULTURAL CENTER)  To participate in the development of affordable housing and cultural center at the East 125th St. project.   The affordable housing aspect of the project involves a Phase I construction of a 49-unit low-income apartm ...More

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