A new 11-story building on Fulton St. will include 44 affordable homes and a health and wellness center and will be developed by Almat Urban and the Bedford-Stuyvesant Restoration Corporation, the City has announced.
The new development, called the Norma, is part of the Bedford-Stuyvesant Housing Plan, which prioritizes homeownership opportunities for low-to-moderate income families in the neighborhood.
The homes in the building, which will be located on Fulton St. just east of Howard Ave., are being developed specifically for first-home buyers, the Department of Housing Preservation and Development said, and the building will include a mix of one- to three-bedroom condo-style coops.
The homes range between 70% and 110% of the Area Median Income (AMI), meaning a family of three with incomes ranging from $64,000 to $118,000 would be eligible for the City’s homeownership program, Open Door.
HPD Commissioner Louise Carroll said Almat Urban and the Bed-Stuy Restoration Corporation were chosen to develop the City-owned land as their plans reflected the neighborhood’s desire for more affordable homeownership opportunities.
“These plans move forward many of the priorities in the Bed-Stuy Housing Plan to protect residents from displacement and promote equitable ownership among M/WBE and nonprofit developers,” Carroll said.
“The Norma gives low-income families the chance to buy their first home, build wealth and grab a real stake in their neighborhood’s future.”
The proposal from Almat Urban and the Bed-Stuy Restoration Corporation also meets the new Equitable Ownership requirement that a Minority and Women-Owned Business or nonprofit firm hold a minimum 25% ownership stake in City-financed projects developed on public land.
Under the plans, the Brownsville Multi Service Wellness and Health Center will operate a new urgent care facility on the ground floor, providing services for adult medicine, pediatrics, physical therapy, OB/GYN, mental health and dentistry, among others, HPD said.
The condo units will come with individual storage spaces in the cellar, a washer/dryer hook up, Juliette balconies and free building-wireless internet access, and the building will also have a community terrace on the second floor. The development will run off fully electric mechanical heating and cooling systems and is designed to comply with Passive House energy efficiency and sustainability standards.
Donald Matheson, Almat Urban principal, said the firm was excited to work with HPD and the community “to make this project a model for how affordable housing and affordable ownership can be in the city.”
Colvin Grannum, Bedford Stuyvesant Restoration Corporation president and CEO, added that the Restoration’s mission was “to relentlessly pursue strategies to close gaps in family and community wealth to ensure that all families in Central Brooklyn are prosperous and healthy.”
“Our strategic priority is to disrupt and close the racial wealth gap. The Norma fully aligns with Restoration’s mission and priorities,” he said.