HCR Commissioner/CEO Darryl C. Towns joined NYC Department of Housing Preservation and Development (HPD) Commissioner RuthAnne Visnauskas, Senior Vice President & Head of CPC Resources, Inc. Thomas McGrath, Roman Catholic Bishop of Brooklyn Nicholas DiMarzio, Monsignor Alfred LoPinto, Vicar for Human Services for the Diocese of Brooklyn on behalf of the Catholic Charities of Brooklyn and Queens, Richman Housing Resources President William Traylor, and residents on September 26 to celebrate the completion of Catholic Charities Monsignor Anthony J. Barretta Apartments, a new $18 million development featuring 64 units of low-income housing in the Ocean Hill section of Brooklyn. The development is located on the site of the former school, rectory, and convent of Our Lady of Loreto Church.
Located at 2354-2358 and 2372-2374 Atlantic Avenue, and 2353-2365 Pacific Street, Catholic Charities Monsignor Anthony J. Barretta Apartments is comprised of eight separate four-story buildings. Utilizing CPCR’s highly successful “Infill Housing Prototype” design, the apartments have transformed underutilized, scattered sites into sound housing, a need which is increasingly important in a land-scarce city like New York. Conceived by RKT&B Architects and developed in conjunction with CPCR, the “Infill Housing Prototype” is inspired by New York City’s brownstone walk-ups and applies energy-efficient techniques, including Energy Star appliances and highly efficient heating and air conditioning systems.
Commissioner/CEO Towns said, “New York State is committed to investing in developments like Monsignor Anthony J. Barretta Apartments. I know the neighborhoods of Ocean Hill and Brownsville well—and also know that housing like this will advance Governor Andrew Cuomo’s vision of stronger, more vibrant communities. These beautiful, new apartments will be energy-efficient and affordable homes that will complement the surrounding neighborhood. I commend and congratulate CPC, CPCR, Catholic Charities, HPD, Richman and all of the other partners who brought this important project to completion.”
Financing for Catholic Charities Monsignor Anthony J. Barretta Apartments was the result of extensive partnerships with housing officials both in New York City and State. The total development cost for this project is $17.9 million. CPC and HPD provided the initial $11.14 million construction loan and Richman Housing Resources provided approximately $5 million in equity during construction. Richman Housing Resources will provide a total of $12.4 million in equity; additional permanent sources of financing include a $1.6 million loan from New York State Housing Trust Fund and a $3.8 million loan from HPD.
Last Updated: 09/26/13