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New York & Tri-State  + New York  + Apartments  |  August 8, 2023
Emily Fu
By: Emily Fu

Wells Fargo Closes $780M in NYC-area Affordable Housing Projects

Wells Fargo’s Community Lending and Investment (CLI) group closed $780.3 million in financing for five New York City-area affordable housing projects in June, marking its largest first-half cycle in history. 

Notable projects include Peninsula Phase 2 in the Bronx, with $250.6 million in debt and equity financing; Wakefield Yards in the Bronx, featuring $179.1 million in financing and LEED Platinum certification; Blondell Commons in the Bronx, receiving $147.1 million in financing and incorporating solar panels and green design. 

Edgemere Commons – Building B1 in Queens has landed $138.6 million in financing along with affordable apartments, retail, and community space; St. Clair in Yonkers, a 76-unit project with $65.0 million in combined debt and equity financing, built to LEED v4.1 BD+C Zero certification. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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