Rheingold Affordable Senior Residences (“the Project”)

Organization Name: Southside United HDFC- Los Sures

Project Title: Rheingold Affordable Senior Residences (“the Project”)

Project Location: 15 Montieth Street Brooklyn NY 11206

Project Description:
: Southside United HDFC, (“ Los Sures”) is the developer of Rheingold Affordable Senior Residences. The Project is the byproduct of years of hard work and activism on the part of Los Sures and co-developer Churches United for Fair Housing (CUFFH) in their fight for affordable housing and equity in North Brooklyn. This achievement proves that affordable housing can be aesthetically pleasing, promote sustainability and be a community asset. The Project is funded through HPD’s 9% Low Income Housing Tax Credit Program (“LIHTC”), with additional capital subsidy from HPD’s Senior Affordable Rental Apartments (SARA) Program. New York City Councilmember Antonio Reynoso and Brooklyn Borough President Eric Adam’s contributed a combined total of $7 million in Reso A funds for the Project. JP Morgan Chase is the construction lender and CREA LLC is the syndicator. Rheingold will have a total of 94 residential units including 54 studios, 39 one-bedrooms and 1 Super’s apartment. All units will be for Section 8 eligible seniors; per SARA requirements, 30% will house formerly homeless. All units will be covered through a project-based Section 8 Housing Assistance Payments (HAP) contract administered by NYCHA.

Community Impact:
The Rheingold Project will positively impact the greater community by providing vulnerable, low-income seniors, including the formerly homeless, with safe, affordable and socially engaging living accommodations. There are common day‐lit lounges close to the elevators at each floor to promote social interaction, connection to the world outdoors, and an active lifestyle. At the request of the community, spaces have been designed on the first floor, basement and roof top garden for outside community meetings and events. The building will also serve as a food access site for the neighborhood. Los Sures Social Service staff and local volunteers will operate the programs for both residents and the community. Spaces for residents to gather outside the front entrance will enable the seniors to be an integral part of the life on the block.
The 8-story residence will have a positive impact on the larger community through its passive house design that won a NYSERDA Buildings of Excellence Award. The development projects a 44% energy‐cost savings, while also providing superior indoor air quality through its highly efficient mechanical systems, robust building envelope, and meticulous choice of materials.

Organization Description:
Los Sures creates and preserves thousands of affordable housing opportunities, organizes tenant associations in landlord neglected buildings as well as educates neighborhood residents on tenant rights and displacement issues; promotes sustainability and serves the social service needs of a population that is predominantly Latino through programs to combat hunger, gun violence, family health and increase access to resident’s entitlements and equity while serving as a liaison between the Southside community and some city agencies.

Team Members:

Los Sures
NYC Dep’t of HPD
Magnusson Architecture and Planning
JP Morgan Chase Bank, N.A.
Bellwether Enterprise Real Estate Capital, LLC
Freddie Mac
Churches Unite

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