It’s one of the biggest challenges in New York City: How will developers finance the projects?
A new report from Brookline, Massachusetts, developer Arentz and a group of local leaders aims to provide an answer.
The Brookline-based developers and city leaders hope to create a program called The Brookline Community Development Fund, or CHDF, to bring affordable housing to communities that can’t get affordable housing in their own neighborhoods.
The CHDF would be a pilot program for a program that’s already underway in New Haven, Connecticut, and will fund affordable units in neighborhoods where there are too many affordable units.
CHDF is not meant to be the next wave of affordable housing.
It’s just an experiment in how we might make housing more accessible in a way that people don’t have to pay for,” said Brian D. Baughman, chief executive of Arents, the company that is developing the project.”
The Brooklinds plan would require developers to purchase affordable units from the city for each unit they build. “
We think this is a good first step.”
The Brooklinds plan would require developers to purchase affordable units from the city for each unit they build.
Brookline officials have estimated the cost of the project to be between $1 billion and $2 billion.
The project would be the first affordable housing project to benefit from CHDF.
The project is also the largest single-family housing development in New England.
Brookline Mayor Mark DiCamillo and Mayor Joe DiVito have worked closely with developers, community leaders and other city officials to develop a plan for affordable housing development that will not only help local communities, but also boost economic development in the city.
The city is committed to working with developers to create more housing options for the city’s residents.
The city and Arent will launch the project this week.
It’s an initiative that has been in the works for several years and the Brooklinton community has already been working closely with the city on the program.
It was a major goal of the city council in 2013, and now the Brooklin community is excited to be on the front lines, according to City Council President Kevin Gresham.
“It is a very important moment for our city and our state,” he said.
The mayor says the Brooklins plan is a step in the right direction, but he said it needs more work.
“It’s a pilot and we will do more in the future.
But we’re hopeful that this pilot will be a model for other cities,” Greshan said.
Mayor Greshawn, who represents the city of Brooklin, says the CHDF program has been under discussion for more than two years.
He said the program will help build affordable housing and spur economic growth in Brookline.
The developers say the CHDKF will allow the city to build on its existing affordable housing programs in neighborhoods such as Brooklin Village, Brookline’s oldest residential neighborhood, which is now home to more than 200 families.
It will also help expand the number of affordable units that can be built in the community, they said.