Press Room > Press Releases
Contact: Brenda Ratliff, V.P. for Communications
212-869-5300 x568 bratliff@communityp.com
Posted: September 22nd, 2009
New York, June 30, 2009 – Deputy Mayor Robert C. Lieber Department of Housing Preservation and Development (HPD) Commissioner Rafael Cestero, and faith-based developer Reverend Revered David K. Brawley of East Brooklyn Congregations were joined by Community Preservation Corporation (CPC) President and CEO Michael Lappin, to cut the ribbon on the completion of the first phase of the new Nehemiah Spring Creek Homes on a 227-acre site in East New York.
Almost 20 years in the making, Phase One of Nehemiah Spring Creek Homes forms part of Gateway Estates, a new community that will eventually include a total of 2,219 affordable homes, new streets, sewers and sidewalks, a public school and four parks. An existing 620,000-square foot retail center, Gateway Plaza, will be expanded.
Phase One consists of 184 units of affordable housing, including 69 single-family homes, 29 two-family homes and 19 three-family homes. They are affordable to families earning up to 110 percent of Area Median Income ($61,600 for a family of four.). Of the 184 units, there are 117 homeownership units and 67 rental units. Eighty-eight homeowners in Phase One have closed on their homes and have been moving in since December 2008.
Mr. Lappin said, “CPC is proud to have partnered once again with the City of New York and East Brooklyn Congregations to provide the financing for this wonderful new community within the scenic Gateway parks district. We can look back with pride over the 20 years of hard work it took to get us here today. But even more important, we can look forward 20 years and see a new generation of New Yorkers who will call Nehemiah Spring Creek ‘home.’”
The Gateway Estates development includes four interior and perimeter parks, providing 47 acres of recreational space for residents and their visitors. In addition, a high school and intermediate school consolidated into one building is being constructed by the New York City School Construction Authority.
The Community Preservation Corporation (CPC), a not-for-profit mortgage lender, has financed over 136,000 housing units with a record investment of over $7 billion during the last 35 years. CPC partners with leaders in banking, government and the communities it serves to find affordable housing solutions. CPC has seven locations and is committed to financing affordable housing throughout New York State, New Jersey and Connecticut.
CPC $30 MILLION FINANCING CREATES 184 NEW “NEHEMIAH” HOMES FOR LOW- AND MIDDLE-INCOME FAMILIES IN BROOKLYN
City Officials and East Brooklyn Congregations Celebrate the Transformation of a Former Landfill into the First Phase of New Community for 7,000 New YorkersNew York, June 30, 2009 – Deputy Mayor Robert C. Lieber Department of Housing Preservation and Development (HPD) Commissioner Rafael Cestero, and faith-based developer Reverend Revered David K. Brawley of East Brooklyn Congregations were joined by Community Preservation Corporation (CPC) President and CEO Michael Lappin, to cut the ribbon on the completion of the first phase of the new Nehemiah Spring Creek Homes on a 227-acre site in East New York.
Almost 20 years in the making, Phase One of Nehemiah Spring Creek Homes forms part of Gateway Estates, a new community that will eventually include a total of 2,219 affordable homes, new streets, sewers and sidewalks, a public school and four parks. An existing 620,000-square foot retail center, Gateway Plaza, will be expanded.
Phase One consists of 184 units of affordable housing, including 69 single-family homes, 29 two-family homes and 19 three-family homes. They are affordable to families earning up to 110 percent of Area Median Income ($61,600 for a family of four.). Of the 184 units, there are 117 homeownership units and 67 rental units. Eighty-eight homeowners in Phase One have closed on their homes and have been moving in since December 2008.
Mr. Lappin said, “CPC is proud to have partnered once again with the City of New York and East Brooklyn Congregations to provide the financing for this wonderful new community within the scenic Gateway parks district. We can look back with pride over the 20 years of hard work it took to get us here today. But even more important, we can look forward 20 years and see a new generation of New Yorkers who will call Nehemiah Spring Creek ‘home.’”
The Gateway Estates development includes four interior and perimeter parks, providing 47 acres of recreational space for residents and their visitors. In addition, a high school and intermediate school consolidated into one building is being constructed by the New York City School Construction Authority.
The Community Preservation Corporation (CPC), a not-for-profit mortgage lender, has financed over 136,000 housing units with a record investment of over $7 billion during the last 35 years. CPC partners with leaders in banking, government and the communities it serves to find affordable housing solutions. CPC has seven locations and is committed to financing affordable housing throughout New York State, New Jersey and Connecticut.
