Seaview Senior North Housing Project Update

We have good news to report here, as well. Final processing of the Grants from NYC necessary to build the project have been completed. NYC EDC has forwarded same to NYC OMB who will, thereafter, arrange for the advance to be registered by the Comptroller's Office. What all of the foregoing means is that they will then be part of the official NYC Budget. We are also moving at the same time towards finalization of the tax exempt bond issue which will provide the balance of the funds beyond the NYC Grants that are necessary to complete the project. As of now, we are expecting there to be a "closing" sometime in October with construction to start immediately thereafter. This project has been long delayed by the NYC bureaucracy but we have finally broken through over the last few months

Victory Fiedler Project Update

Things are moving along at the Victory Fiedler site. The first floor slab has been poured and, pending the issuance of the necessary NYC Permits, the modular boxes are scheduled to be delivered to the site and set this month. Once that happens, everything will begin to move quite fast towards a year-end completion of the building.

Webster, Astoria and Grove Project Updates

The Webster, Astoria and Grove projects remain in a state of limbo due to a combination of budgetary problems starting with the City, State and Federal governments. Subsidies for affordable housing of every variety are bound up in the budget woes of government at every level. Added to that, the banks that hold the existing debt on the Astoria and Webster properties have become impatient, so we are trying to deal with those issues as they come up, in terms of renegotiating with the banks and are looking for alternate development scenarios for the properties.

Victory Fiedler Project Update

The Victory Fiedler Project continues to advance with lots of work being accomplished in the modular  factory in Brooklyn. Below are some pictures documenting the progress.

It all begins with raw materials and supplies. Above, a collage of pictures from the factory shows, clockwise from top left, a drywall supplied to the factory, lighting fixtures, sinks, kitchen hoods, kitchen cabinets, and lavatories awaiting installation.

Above: Panels of drywall on metal studs ready to be attached to the steel module frames.

Above: A row of six or more modules with drywall and metal studs in place, all anchored to the solid steel frames. As each module progresses down the assembly line from back to front, more and more finishing touches are added till the modules are completed.

Above: A module having interior finishes put in. This picture also shows the steel rails on which each module travels as it completes its assembly.

Above: A finished kitchen with doors taped down and ready for delivery to the site

Above: A completed module with fenestration just before it leaves the factory floor.

Above: Completed modules await delivery to the site. 

Webster Avenue Rendering

The funding for this site should be locked in shortly with a 2011 start anticipated. A view of the current Webster Avenue site, along with a rendering of the proposed building.

Victory Fiedler Project Video Update

A short video showing the progress at the Victory Fiedler site. Things are moving along after some site development challenges were overcome.

Grove Avenue Project Plans

Plans for this project are moving along. Discussions are underway with various governmental and nonprofit service providers to secure funding allocations for this mixed use project.

Astoria Station

Funding for this market rate project is still being sought. A change in zoning to commercial use will allow the first floor medical spaces to be come retail spaces, which is a big plus. A rendering of the Astoria Station project. As of now this project is treading water.

Seaview North Senior Housing

Funding sources for this project have been identified and a finance closing is expected with the start of construction in 2011. A rendering of the Seaview North Senior Housing project.