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The Perennial Senior Affordable Housing Tax Exemption

  • When: 2024/12/19
  • Address: 108-20 62nd Drive, Forest Hills, Queens, NY
  • City: New York
  • State: NY
  • Category: Affordable Housing
  • Asset Class: Multifamily
  • Property Type: Affordable Housing
  • Size: 145 residential units

The Perennial involves the adaptive reuse of a former hospital to provide 145 affordable senior housing units, including 44 for formerly homeless individuals and 20 for low-income families. The project features on-site social services and senior-friendly amenities such as group programming and case management services, supporting aging in place.

Why it Matters

Promotes housing stability for low-income seniors and formerly homeless individuals while revitalizing a historic structure in Forest Hills.

Source

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

Ownership - Selfhelp Perennial Housing Development Fund Corporation

Allowed Uses: Senior housing with rent-stabilized units and a 30% set-aside for formerly homeless individuals