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Developers Secure $98M Financing for Conversion of Harlem Correctional Facility
LDG Group LLC, Infinite Horizons, L+M Development Partners and Urbane Development Group have closed on $97.8 million in financing to redevelop the former Lincoln Correctional Facility in Harlem. The redevelopment of the long-vacant correctional facility will create 105 new affordable cooperative units for households earning between 40% and 100% of the Area Median Income.
At 22 stories, the project will be the tallest 100% affordable homeownership development in New York City to meet Passive House certification, according to Gov. Kathy Hochul’s office. The Hochul administration selected the development team for the Lincoln project in 2023.
Project financing includes construction loans through M&T Bank and funding through the New York State Homes and Community Renewal Affordable Homeownership Opportunity Program, New York City Department of Housing Preservation & Development Open Door Program, and the New York State Community Resiliency, Economic Sustainability, and Technology Program secured in partnership with the New York State Assembly and Senate.
- ◦Development
- ◦Financing

