Press | October 4, 2016

Acacia Gardens Breaks Ground in East Harlem

“It was so important to us that a Latino developer could do such a project,” Russi said.

 

“That probably hasn’t been done since Ramón Vélez,” he added, referring to the Puerto Rican social services pioneer and founder of the Hunts Point Multi-Service Center.

 

The $73 million project, is being funded under HPD’s Extremely Low and Low Income Affordability (ELLA) program, which funds construction of rental projects affordable to households earning up to $48,960 for a household of three.

 

It is also one of the first projects to receive financing from the city’s “Our Space Initiative,” which provides funding for affordable units to formerly homeless households whose incomes are at or below $27,200 for a household of three.

 

The Bronx Free Press
Where hope takes root/Jardín de la esperanza
by Gregg McQueen