Broome Street Development

Organization Name: Gotham Organization

Project Title: Broome Street Development

Project Location: Lower East Side

Project Description:
Broome Street Development (BSD) is a new, intergenerational mixed-use development in the Lower East Side that will generate 488 rental homes including a total of 208 permanently affordable residences. The affordable housing is comprised of 115 homes dedicated to seniors with household income levels at 30-80% AMI and 93 Mandatory Inclusionary units (MIH) at household income levels of 40, 50 and 100% AMI. BSD also includes permanent facilities for the Chinese-American Planning Council (CPC) and the Beth Hamedrash Hagadol Synagogue (BHH). The project will consist of two buildings including “Suffolk Building,” a 330,000 square foot 30-story building with 378 rental homes including 94 affordable residences, a new 40,000 square foot community facility for CPC, and 18,000 square feet of small-format retail space. The second building at 64 Norfolk Street, “Norfolk Building,” is an 84,000 square foot 16-story building with 115 senior affordable residences and a new 4,000 square foot congregation and cultural heritage center for the BHH synagogue.

Community Impact:
BSD will be home to a new state-of-the-art 40,000 square foot headquarters for the Chinese-American Planning Council (CPC), a community-based social services organization that has worked to provide education, family support and economic empowerment to more than 60,0000 individuals and families across NYC for more than 50 years. The new headquarters will further CPC’s ability to empower Asian American, immigrant and low-income communities throughout NYC with increased capacity for its services and expanded programming.

Founded in the LES in 1852, Congregation BHH has been integral to the community since. The 4,000 square foot congregation space and Cultural Heritage Center at BSD will integrate existing synagogue remains into the new structure and ensure the long term continuity of BHH. The center will be available for public use including students, LES residents, and the BHH Congregation.

By creating 488 new rentals with over 40% of units specified as permanently affordable, BSD will create an inclusive community on the LES with 115 units set aside for much-needed senior housing.

Organization Description:
Gotham has over 100 years of experience constructing and developing high quality mixed-use buildings throughout New York. Gotham’s long track record of success in developing homes for low, moderate, and middle-income residents in New York City is possible thanks to successful partnerships with public agencies, not-for-profits and property owners. Gotham’s in-house property management division seamlessly transitions into ongoing building and community management, operating vibrant and engaging communities in the neighborhoods it builds in.

Team Members:

Gotham Organization
Chinese-American Planning Council
Beth Hamedrash Hagodel
JV between Gotham and Goldman Sachs UIG