The entire development will be fully affordable
In October it was revealed that L+M Development Partners along with Tahl Propp Equities were planning a massive, fully-affordable residential project that would span an entire city block in East Harlem. On Tuesday, the 400-unit project was approved by the City Council, signaling its successful progress through the Uniform Land Use Review Procedure (ULURP).
In fact, the City Council negotiated a bigger share of affordability than what the development team had originally proposed. Lexington Gardens II, as the project is known, will offer 20 percent of its units at 30 percent of AMI, 30 percent to families making 50 percent of AMI, another 30 percent to families making 80 percent of AMI, and finally, the remaining units will be offered to families making 130 percent of AMI.
The project will rise right next to the existing Lexington Garden I development located on the eastern half of the block bound by East 107th and 108th Streets and Lexington and Park Avenues. That section-8 housing project was developed by one of the partners on this one, Tahl Propp Equities. The new residential building will replace the existing parking lot on the western section of that property.