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Affordable Co-op Breaks Ground in the Bronx
Groundbreaking has taken place for Sydney House, a 56-unit affordable development in the Williamsbridge section of the Bronx. Being developed by a partnership of the Almat Group and Habitat for Humanity New York City, it will be the largest multifamily project ever built by a Habitat for Humanity affiliate.
Sydney House also represents a couple of firsts. It will be the first project financed under the New York City Department of Housing Preservation and Development’s Open Door program, announced last year as part of Mayor Bill de Blasio’s Housing 2.0 plan to create and preserve 300,000 affordable homes by 2026.
For Almat, the project represents the “first step into the affordable housing arena, and we hope to bring more positive economic and social impact projects to the forefront in the future,” said principal Uche Alozie. Apartments at Sydney House will be for-sale co-op units, rather than rentals.
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