Haven Green strives to be an inclusive model for how affordable housing and green space are complementary and necessary for meeting community needs. Housing, open space and intergenerational programming will co-exist at Haven Green, elevating the site to a sum greater than its parts. This exemplary affordable senior housing development will both preserve the legacy and maximize the potential of Little Italy. The members of the Haven Green development team looks forward to working with the community to foster sustainability, diversity, and community stewardship in the heart of lower Manhattan.
Pennrose LLC, RiseBoro Community Partnership and Habitat for Humanity New York City have been designated to build Haven Green, a 123-unit affordable rental complex for senior citizens, in Little Italy, Manhattan. Haven Green is a unique senior housing development expected to consist of 123-unit deeply affordable apartments. Haven Green will be affordable to extremely low-, very low-, and low-income seniors with thirty-seven apartments for seniors who have been homeless. The housing will be enveloped by services for both the new resident community and the community at large.
The Haven Green development will include over 8,000 square feet of publicly- accessible garden space designed and programmed through a community engagement process, community engagement opportunities, flexible community activity space, as well as onsite and community services provided by Riseboro Community Partnership and Habitat NYC, The development will be LGBTQ-friendly, and include services specific to elderly LGBTQ residents and neighbors, with SAGE assisting the Developers in ensuring an LGBTQ-affirming environment. The development will also include the new headquarters for Habitat for Humanity New York City.
To ensure the sustainability of the development, Haven Green will serve as a model energy-efficient building. The project will be built to Passive House standards, reducing the building’s utility expense and carbon emissions, keeping our city greener and healthier. The building and the public open space will be designed to manage and reuse stormwater through the use of permeable surfaces covering the majority of the open space and a rooftop rainwater harvesting system.
Haven Green will highlight over 8,000 square feet of publicly accessible open space, available to the public via entrances at Mott and Elizabeth Streets, with vibrant gardens, flexible space for seating and relaxation, shaded and sunny areas, public art and other amenities designed with the input of the community. The design and programming for the open space will be developed through a participatory design effort grounded in community engagement to build active involvement and stewardship.
Haven Green Financing Summary (subject to change depending on availability)
Construction and permanent financing for Haven Green is anticipated to come from proceeds of a bond funded tax-exempt first position mortgage loan from HDC, subsidy mortgage loans from HDC’s ELLA and HPD’s SARA programs, Federal Home Loan Bank of New York Affordable Housing Program funds, proceeds from the investment in 4% Low Income Housing Tax Credits and Renewable Energy Tax Credits, and private equity. Credit enhancement of the bonds is anticipated during construction. Operating subsidy for the 37 units of senior supportive housing is being provided by the New York State Empire State Supportive Housing Initiative (“ESSHI”) program.
The retail portion of the project is anticipated to be financed separately using traditional first position construction and permanent mortgage loans from a private lender. Cashflow received from retail rents will cross-subsidize the residential component of the project, allowing Haven Green to achieve deep affordability for building residents.