The Council approved HPD’s disposition of the city-owned parcel at 457 Nostrand Avenue to facilitate new residential development with community facility space. Under Article XI of the Private Housing Finance Law, HPD will select a developer to construct multifamily housing and allocate space for community use. The sale transfers the property from the City of New York to a private developer under HPD oversight. The project will replace underutilized municipal property with housing units to meet local demand and include space for community organizations. The transaction follows the Uniform Land Use Review Procedure and requires developer compliance with HPD’s affordability requirements. It aligns with city goals to increase housing supply and support neighborhood services. The disposition is intended to create long-term community benefits by delivering affordable housing adjacent to transit and amenities.