New homes at Atlantic Terrace

New homes at Atlantic Terrace

Gateway Elton Street

Gateway Elton Street

Dumont Green

Dumont Green

Gateway Elton III

Gateway Elton III

Affordable Residential

Since its inception, developing new affordable housing has been a fundamental part of Hudson’s business strategy and organizational culture. Hudson has become expert at utilizing a variety of government subsidy programs to develop and manage affordable for-sale homes, co-ops, condominiums, and rental units throughout New York City. Hudson’s track record over this period has been exemplary, with every project completed and marketed successfully, on-time and on-budget. Hudson maintains excellent relationships with government entities, including the U.S. Dept. of Housing and Urban Development (HUD), New York City’s Department of Housing Preservation and Development (NYCHPD) and Housing Development Corporation (NYCHDC), and New York State’s Housing Finance Agency (NYSHFA), State of New York Mortgage Agency (SONYMA), Affordable Housing Corporation (NYSAHC) and Energy Research and Development Authority (NYSERDA).

As with all of its developments, Hudson’s success in developing new affordable housing derives from its hands-on management of the details of development, ability to navigate and use complex programs, and sophistication with public-private partnerships. Hudson prides itself on building well-designed buildings that are in context with their surroundings. We strive to construct problem-free buildings that are cost-effective in both short-term construction and long-term operation. In keeping with this approach, all of our current developments follow green design principles to provide for energy-efficiency, resiliency, and healthy indoor air quality.

  • Hudson has been one of the City’s most prolific builders of affordable new 1, 2, and 3-family homes under NYCHPD’s New Homes Program, having completed over 1,800 units to date. We have collaborated with the non-profit Housing Partnership Development Corporation, NYCHPD, NYSAHC, and numerous community-based organizations. Many of these developments have been cited as models for the program and our strong performance has been recognized with several requests to take over failed projects originally awarded to other developers.
  • Dumont Green is an 8-story green building that provides 176 units of rental housing for low-income families in East New York, Brooklyn. All the units are available for households earning between 30 and 60 percent of the area median income, with 36 units set aside for formerly homeless households. In order to control long term operating costs, the building includes rooftop photovoltaic solar panels providing 80,500 watts of electricity, or 68% of the building’s demand. The site was purchased using the NYC Acquisition Loan Fund through Enterprise Community Foundation and construction was financed with a mix of tax-exempt bonds and subsidies from NYCHDC, City capital funding, NYSERDA and over $15M in Low Income Housing Tax Credits. The building reached full occupancy in summer 2011 and earned multiple awards including the National Grid Energy Efficiency Award by the Brooklyn Chamber of Commerce and the HOME Excellence Award from the National Association of Local Housing Finance Agencies (NALHFA).
  • Helping to implement NYCHPD’s ambitious 2,200 unit Fresh Creek Urban Renewal Plan, Hudson is leading the development of Gateway Elton Street, an 9-building neighborhood center that will provide 660 units of green affordable housing and ground floor retail and community facilities. Phase I of Gateway Elton will include 197 rental units in four buildings for households earning less than 60% AMI and over 16,000 SF of neighborhood-focused retail. 40 units are set aside for individuals sponsored by the NY State Office of Mental Health (OMH). Amenities will include computer rooms, children’s playrooms, fitness rooms and free Wi-Fi access for all residents in the common areas. Designed to exceed LEED for Homes Gold standards, Phase I will surpass Dumont Green as the largest Solar PV system installed on a residential development in New York State with 214,000 watts of renewable energy. Construction was financed with a mix of tax-exempt bonds and second mortgage from HDC, HPD City Capital funds, NYSERDA and almost $26M in Low Income Housing Tax Credits. Construction was by CH Builders LLC, a partnership with Cheever Development Company. Phase I construction was completed in November 2012.
  • Gateway Elton Phase II, comprised of 175 rental units in three buildings with 24,000 SF of ground-floor retail and community facilities, began construction in March 2013. Phase II will have units ranging from Studios to 4-bedrooms and include pre-installed desks/workstations in every apartment. Apartments will be available for households earning between 40% and 60% AMI and include 30 units for individuals sponsored by OMH. Similar to Phase I, amenities will include computer rooms, children’s playrooms, fitness rooms and free Wi-Fi access for all residents in the common areas. Designed for LEED for Homes Platinum and Enterprise Green Communities, Phase II will also have 275,000 watts of solar PV installed. Construction will be financed with tax-exempt bonds and second mortgage from HDC, HPD Capital Funds, NYSERDA, Brooklyn Borough President Marty Markowitz, and almost $27M in State and Federal Low Income Housing Tax Credits.
  • Gateway Elton Phase III, the final phase of the Gateway Elton development, encompasses 287 units of housing, community space, and 30,000 square feet of retail. Apartments will be available for households earning 40%, 50% and 60% of the AMI. This includes 27 units sponsored by the New York State Office of Mental Health, to be set aside as supportive housing for persons with mental illnesses transitioning to independent living. Gateway III will also have the largest Solar PV installation on a multifamily development in New York State, surpassing Gateway Phase I and II. All three phases combined will deliver almost 1,000,000 watts of renewable energy. Gateway III was financed with HDC’s LAMP and HPD’s LIP programs with construction financing through HDC’s Open Resolution. Supplemental funding came from Brooklyn Borough President Eric Adams and NYSERDA. Construction is expected to be completed in late 2016, and is built in partnership with Bruno Frustaci Construction and Wells Fargo Bank.
  • La Central will be a multi-phase, mixed-use affordable housing development located near The Hub in the Bronx offering 992 apartments, a 50,000 square foot state-of-the-art YMCA, a new home for BronxNet Television Studios, GrowNYC garden/educational center, musical academy, daycare, a public skate park, and a rooftop telescope operated by the Bronx High School of Science. Across five buildings, apartments range in size from studios to four-bedrooms and will be available by lottery to households earning between 30% and 100% of the AMI. All apartments will have access to almost 2 acres of private and public open space. Phase I, which consists of three buildings, will contain approximately 650 apartments, 28,000 square feet of retail space, the YMCA, and a GrowNYC urban rooftop demonstration farm, 10,000 square feet of studio and classroom space for BronxNet. Additionally, 160 units will be supportive housing, which will be set-aside for older adults living with HIV/AIDS and single veterans with mental illnesses. Phase I will begin construction in early 2016, with final completion in 2018. Phase II will consist of two buildings, which will contain an additional 342 apartments and community space for non-profits including Music Has No Enemies, Phyl’s Academy Day Care, and the 25-story Bronx Astronomy Tower and Educational Center. The project will also include over 600,000 watts of solar panels as well as co-generation. Construction will be financed by NYS HFA, NYC HDC, and NYC Department of Housing Preservation and Development. La Central will be developed in partnership with BRP Companies, The Kretchmer Companies, ELH Mgmt, LLC, Common Ground HDFC, Comunilife, Inc., and the YMCA of Greater New York.
  • BEC Portfolio, Hudson is partnering with BEC New Communities HDFC to recapitalize, renovate and reinvest in 23 rent stabilized buildings and 295 units throughout Brooklyn. Construction will commence in June 2015 and the expected completion date is summer 2017.
  • Hudson will be developing Calvary Intergenerational, a 155-unit intergenerational, mixed-income and mixed-use rental building in Crown Heights, Brooklyn. In partnership with Selfhelp, Inc. and Fulcrum Properties, Calvary will offer 77 units of housing for older adults aged 62 or older with the remaining units specified for households earning between 40% and 90% AMI. The building will also include over 100,000 watts of solar PV and a virtual Senior Center to be operated by Selfhelp. Anticipated completion date is summer 2018.
  • Lisa Management Company, Hudson’s affiliate management company, is well versed in LIHTC compliance, income certification, tax exempt bond regulations and rent stabilization. Since its inception in 1997, Lisa has a flawless record in tax credit compliance at the local, state and federal levels.


Site design by Naiad Design