Building will contain 180 affordable units
Trinity Financial has secured $83 million in construction financing in a deal led by the the New York Housing Development Corporation for 405 Dumont Avenue (AKA Van Dyke III). The building will be part of an affordable housing complex in Brownsville.
Building Plans: Upon completion, the property will contain 180 affordable housing units. To qualify for apartments, tenants’ yearly incomes must fall between 30 and 60 percent of the area AMI, according to TRD.
Shift in developers: In 2016, the New York City Housing Authority announced that Dunn Development won the rights for the site, but the project was reassigned to Trinity Financial.