Coney Island Welcomes 1,300 New Affordable Homes in Major Housing Development

## Coney Island Gets a Boost: 1,300 New Affordable Homes Open Their Doors

The iconic Coney Island neighborhood in Brooklyn is celebrating a significant milestone in its revitalization journey with the grand opening of 1607 Surf Avenue, a new affordable housing development that promises to provide much-needed housing options for residents. This project is a collaborative effort between BFC Partners, L+M Development Partners, and Taconic Investment Partners, and it represents a key step in their ambitious plan to deliver a total of 1,300 affordable housing units across three phases.

The newly constructed 10-story building, designed by S9 Architecture and Engineering, boasts 376 100% affordable rental units, catering to low-income families, working families, and moderate-income families. Beyond housing, the development also features a generous 11,000 square feet of retail space, 9,000 square feet of community space, and a vital 2,500-square-foot primary care facility operated by NYC Health + Hospitals. This comprehensive approach ensures residents have access to essential services and amenities within their community.

The project’s success is a testament to the power of public-private partnerships, leveraging support from key city programs like the New York City Department of Housing Preservation and Development (HPD), the New York City Housing Development Corporation’s (HDC) Extremely Low & Low-Income Affordability (ELLA) Program, and the Voluntary Inclusionary Housing Program. Wells Fargo provided crucial financing, demonstrating their commitment to community development and affordable housing initiatives.

The event was a celebration of resilience and community spirit, highlighted by House Democratic Leader Hakeem Jeffries, who remarked on Coney Island’s ability to overcome challenges, including Superstorm Sandy, and continue to thrive. The new development is seen as a vital resource for the community, ensuring that residents can remain in the neighborhood and continue to contribute to its vibrancy.

Located in close proximity to the Stillwell Avenue subway station, the development offers residents convenient access to all parts of New York City. This strategic location aligns with the city’s goals for transit-oriented development, promoting sustainability and accessibility.

“We are thrilled to welcome residents to 1607 Surf Avenue, marking a significant milestone in our ongoing efforts to positively impact communities and build quality affordable housing in New York City,” stated Winthrop Wharton, Partner, BFC Partners. “The addition of 376 much-needed homes at this building is a key step in our broader vision to deliver 1,300 homes by the final phase of the project.”

This project reinforces BFC Partners’ reputation as a leading force in affordable housing development, solidifying their commitment to creating vibrant and inclusive communities. The development’s success is a testament to the collective efforts of public, private, and community stakeholders, all working together to address the critical need for affordable housing in New York City. It stands as a beacon of hope for the future of Coney Island, ensuring its continued growth and prosperity.

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