IT’S OFFICIAL: We WON Affordable Housing Finance’s 2021 Readers’ Choice Award!
AHF announced the winners last week – and thanks to your votes – we won our category!
We are humbled (and excited!) to be recognized for our work preserving 21 East Harlem residential buildings and their 359 affordable apartments as part of the massive Ascendant Heritage project.
Thanks to all of our amazing supporters who voted.
We couldn’t have done it without you!
More About Ascendant Heritage…
|In June 2017, AND, MDG Design + Construction (MDG), the New York City Department of Housing Preservation and Development (HPD), and New York City Housing Development Corporation (HDC) announced the closing of the Ascendant Heritage Apartments, a $34 million project to rehabilitate 359 apartments and six commercial spaces across 21 buildings in the AND portfolio.|
The Ascendant Heritage Apartments are four, five, and six-story apartment buildings serving low- and very low- income residents. AND acquired the properties from the City of New York and private owners in the 1990s, and rehabilitated them through a variety of city and state affordable housing programs.
After years of use, these buildings required a new round of renovations to make them more comfortable, functional, sustainable, and resilient to climate change. We have also restructured and refinanced the buildings to ensure the long-term affordability of these homes.
Ascendant Heritage buildings: L to R: 114&116 E 102 Street; 178 E 101 Street (Cicely Tyson’s childhood residence); 242 E 106 Street (Sindayiganza Photography, 2020)
|The rehabilitation, which was completed in 2020, did not require our residents to relocate or their rents to increase. The renovations include new roofs, windows, and kitchens; energy efficient boilers; upgrades to entryways, lobbies, and public hallways; new intercom and key fob entry systems; and façade repairs.|
As part of the renovation strategy, we evaluated opportunities to employ solar technology to take advantage of its cost-saving potential and environmental benefits. AND, with the help of Solar One, installed 197 kilowatts-DC of solar capacity across four of the largest buildings, generating approximately 236,840 kwh per year — enough to offset common area electricity usage in those buildings and several others in the Ascendant Heritage cluster.
AND will be able to save over $100,000 in energy costs over the next 25 years, which can fund improvements throughout our portfolio while advancing AND’s commitment to environmental sustainability and community development.
As always, thanks for your continued support of AND and our mission to build affordable homes and strengthen our communities.