Affordable Neighborhood Cooperative Program Lower East Side Cluster
About the project
Asian Americans for Equality (AAFE) is a non-profit organization dedicated to enriching the lives of Asian Americans and all of those who are in need. Founded in 1974 to advocate for equal rights, AAFE has transformed in the past four decades to become one of New York’s preeminent housing, social service, and community development organizations. AAFE is committed to preserving affordable housing throughout New York and to providing new opportunities for the city’s diverse immigrant communities. AAFE also provides education, financial assistance and training, and engages in research, advocacy and grassroots organizing.
AAFE is headquartered in Manhattan, with branch offices in Flushing and Jackson Heights, Queens. They work citywide in New York.
LISC is providing $5.00 million in construction financing for the rehabilitation of three buildings in the East Village neighborhood of New York City. Upon completion, the units will be offered for sale at below-market prices through NYC's housing lottery. The project will provide opportunities for home-ownership to low-income residents.
Partner:
Asian Americans for Equality Inc.
Location:
New York, NY
Total Investment:
$5,000,000
Results:
44 units
Project Category:
Affordable Housing
Product:
Construction loan
Website:
UN SDGs:
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