And On The Other End Of The Spectrum, An Affordable Housing Victory For CAMBA

Alongside the $2 million plus property sales in our area as of late, CAMBA Housing Ventures is still working to preserve housing for all across Flatbush.

This past Thursday, January 9, the local non profit was honored with the Low-Income Housing Tax Credit (LIHTC) Development that Best Demonstrates Financial Innovation prize at the 5th Annual Novogradac Journal of Tax Credits Developments of Distinction Awards for their CAMBA Gardens Phase I supportive and affordable housing project, consisting of two buildings on Albany Avenue between Winthrop Street and Clarkson Avenue.

With 209 rental units and capacity for 400 tenants, the LEED Platinum-rated buildings (Milk & Honey has nothing on this wall!) will provide more than twice as many homes for low-income Brooklynites as the organization’s 97 Crooke Avenue and Morris Manor (1247 Flatbush Avenue between Ditmas and Newkirk Avenues) developments combined.

CAMBA Gardens had to satisfy a daunting list of requirements to even be nominated for the LIHTC award, including the development having a meaningful community impact, overcoming obstacles on the way to completion, and setting a precedent for future construction and community change. CAMBA Housing Ventures was able to leverage nearly $67 million for the project through a combination of state, county, and local funding sources, which you can learn more about here.

Congratulations, CAMBA, and thank you for working tirelessly to expand the amount of affordable housing in NYC.

Image via CAMBA Housing Ventures