HDC 2024 Closings | Columbia Street Commons

From Our President

Resident Voices

Columbia Street Commons

New Construction

Red Hook

498 Columbia Street

370

homes

Program

ELLA

HDC’s New Construction term sheet facilitates the development of affordable housing, primarily for households earning up to 80% of New York City’s AMI. Within New Construction, the ELLA (Extremely Low & Low-Income Affordabilty) program ensures that 70-100% of the units financed are deeply affordable, made possible through the LIHTC program. Financing employs tax-exempt bonds, 4% tax credits, and Corporate reserves, with all projects subject to rent-restricting regulatory agreements.

Columbia Street Commons

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Image: Aufgang Architects

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