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Resilient Homes Staten Island: UDAAP Approval and Tax Exemption for New Housing Development

  • When: July 18, 2024
  • Address: Multiple addresses including 123 Father Capodanno Blvd., 398 Hamden Avenue, 181-187 Moreland Street, 176 Kiswick Street, 455-457 Lincoln Avenue, 111-113 Grimsby Street, 521 Lincoln Avenue, 770 Patterson Avenue, 527-529 Greeley Avenue, and 1142-1144 Olympia Blvd., Staten Island, New York, NY
  • City: New York
  • State: NY
  • Category: Urban Development Action Area Project (UDAAP)
  • Size: Approximately 23 housing units across multiple properties.

The Resilient Homes Staten Island project involves the construction of approximately 23 new housing units, including seven single-family and eight two-family homes, across multiple locations in Staten Island. The project, approved as an Urban Development Action Area Project (UDAAP), aims to enhance housing resilience in response to climate challenges. The properties are exempt from real property taxes to encourage development and are targeted to be affordable to families with annual household incomes between 80% and 130% of the Area Median Income (AMI). The project is expected to be completed within 24 months from closing.

Why it Matters

This project is crucial for providing resilient, affordable housing in Staten Island, supporting the city's broader goals of enhancing housing stability and resilience against climate change. It provides much-needed housing options while fostering community development.

Source

Applicant - New York City Department of Housing Preservation and Development (HPD)

Ownership - New York City Department of Housing Preservation and Development (HPD)

Allowed Uses: The project area is designated for new construction of single-family and two-family homes under the Resilient Homes Staten Island UDAAP. The project is exempt from real property taxes under Article 16 of the General Municipal Law and Section 577 of the Private Housing Finance Law.