LIIF Invests in Clinton Hill Site Designated for Affordable Housing

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Clinton Hill, Brooklyn will soon see the construction of an affordable housing building as part of an ongoing Brooklyn Heights Library redevelopment project. LIIF provided an $11.1 million acquisition loan to Hudson Companies for the purchased a 25,000-square-foot site which will accommodate 78 residential units. In addition, a public library branch will be located on site. The affordable housing units will be available to those with 60 percent to 165 percent of the area median income. Completion of this project is slated for fall 2018.

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