National developers to build 3,000 units of housing in Lower East Side
A coalition of national developers has begun building houses on the Lower East Side in an effort that will eventually result in 3,000 units.
A coalition of national developers has begun building houses on the Lower East Side in an effort that will eventually result in 3,000 units.
Excerpt:
To assist the homeowners and renters, the development company raised
$1 million from donors, including the Knight Foundation, Masco and the
City of Detroit. U-SNAP-BAC will oversee restoration and will use the
money to pay for repairs and façade improvements.
“We’re not going in and just buying up their homes and moving them
out,” [U-SNAP-BAC executive director Linda] Smith said. “At the end of this process, it will look like a
mixed-use community.”
Read the entire article here.
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