Rendering of Acacia Gardens (Courtesy of MAP Architects)
Construction has begun on Acacia Gardens, a 12-story affordable housing development at 413 East 120th Street, a site formerly used for parking. The brick building will hold 179 apartments, and the first floor will be divided between community and retail space. Amenities will include a roof deck with lounging area, laundry, recreation space, and 29 surface-level parking places.
Acacia Gardens is the first project to be built under New York’s new Extremely Low and Low-Income Affordability (ELLA) program, which funds construction of rental projects for households earning up to $48,960 for a household of three. It also received financing from the city’s Our Space Initiative, a program to fund new construction of rental units available to formerly homeless households with incomes at or below 30% of the area median income.
Acacia Gardens is the first project to be built under New York’s new Extremely Low and Low-Income Affordability (ELLA) program, which funds construction of rental projects for households earning up to $48,960 for a household of three. It also received financing from the city’s Our Space Initiative, a program to fund new construction of rental units available to formerly homeless households with incomes at or below 30% of the area median income.
Construction progres as of July (CityRealty)
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The team behind Acacia Gardens is acclaimed for creating vibrant, sustainable communities in low-income areas. For nearly 50 years, developer Acacia Network has been committed to building healthy neighborhoods and integrating such services as health care, affordable housing, and economic development. Also, the project’s designer, Magnusson Architecture and Planning, is known for almost exclusively designing affordable projects.
Entrance of Acacia Gardens (MAP Architects)
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Michelle Mazzarella
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