City and state officials joined representatives from Catholic Charities and community leaders to cut the ribbon on the new Catholic Charities Gail P. Duke Senior Residence. The $143.4-million development will provide 141 units of affordable sustainable apartments for low-income seniors with supportive services in the Brownsville neighborhood of Brooklyn.
The Gail P. Duke Senior Residence, which began construction in 2024, was developed by Catholic Charities Progress of Peoples Development Corporation, the affordable housing arm of the Diocese of Brooklyn. Construction financing included 4% Low-Income Housing Tax Credits supported by $84,715,000 in NYC Housing Development Corporation Tax-Exempt Bonds and syndicated by Richman Housing Resources.
“More senior housing units are needed in all five boroughs across the city to house our fellow New Yorkers, and developments like the Gail P. Duke Senior Residence are exactly the type of project which is helping us cover that gap,” said New York City Department of Buildings Commissioner Ahmed Tigani.
Northmarq has arranged $50 million in financing for Ardor on the Bluffs, a 235-unit mid-rise multifamily community in Bloomington, Minnesota. Located at 3701 American Blvd, the complex is located just minutes from MSP International Airport and the Mall of America. Northmarq’s Minneapolis Debt + Equity team, led by Dan Trebil, arranged the financing on behalf...
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Marcus & Millichap finalized the sale of Amber Pines Apartments, a 23-unit multifamily property located at 330 Amber Ct. in Upland. The property sold for $5.9 million, or $257,717 per unit. “Amber Pines features a mix of spacious studio, one- and two-bedroom floor plans,” said Douglas McCauley, senior managing director investments. “The asset’s prime north...
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PREMIER Design + Build Group has launched construction on M7 Lofts, a multifamily adaptive reuse project developed by Saber-Hightower and Granoff Real Estate. The project will convert two existing office buildings at the Merritt 7 campus in Norwalk, CT into 286 loft-style apartments across 511,000 square feet spanning eight floors. M7 Lofts represents a significant...
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