Today, Vice President, Northeast and Mid-Atlantic Regions Kirsten Shaw (top photo, fourth from left) joined Commissioner RuthAnne Visnauskas from New York State Homes and Community Renewal, elected officials, developers and community-development peers at the ribbon-cutting ceremony for Phase I of Alafia, which comprises 576 homes in East New York. This $387 million mixed-use development is the first phase of a transformative project that is a major state initiative promoting health. LIIF supported Apex Building Group, which is one of the partners in the deal, with early-stage capital via offering a line of credit.
The six-phase master plan will yield 2.23 million square feet spread across 28.5 acres, with 2,400 brand-new affordable homes created for the Brooklyn community.
This $387 million mixed-use development is the first phase of a transformative project that is a major state initiative promoting health.