Investments in NMTC Project Enhance Support for Affordable Senior Housing and Health Services
To-date, $79.3 million has been invested in the Site 6 development of Essex Crossing, which will offer 100 units of affordable housing for New York’s seniors. As reported by Affordable Housing Finance, seniors earning between $24,200 and $48,350 will be qualified for the residential units. The mixed-use development will also include a medical facility leased by New York University Lagone Medical Center, and will ease accessibility to medical care for the building’s residents and community at large.
Essex Crossing is the largest community renewal project New York City has embarked on in its history. LIIF is proud to partner on Site 6 of Essex Crossing by providing a $15 million allocation of New Markets Tax Credit and a $6 million construction loan that will assist in the improvement of economic mobility for New Yorkers of all ages.