L+M Development Partners and Construction and General Building Laborers’ Local 79 on Thursday announced a hiring agreement in which union construction workers will build affordable housing projects at lower wages. The agreement also entails more local hiring near the project sites.
The agreement will initially cover work on 3,182 apartments in Harlem, the South Bronx, and East New York, Brooklyn. It began with construction of Sendero Verde in East Harlem, which L+M is developing with Jonathan Rose Companies and Acacia Network, and will continue in January, when construction is expected to launch on the 542-unit first phase of Bronx Point.
Ron Moelis, CEO and founding partner of L+M, said he was hopeful that the agreement would provide “a broader model for how builders and labor can work together to create much-needed affordable housing in every corner of the city as we work to recover from the pandemic.”
Rendering of Senedero Verde courtesy of Handel Architects.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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