Construction Start

June 2008

Occupancy Date

December 2009 (anticipated)

Number of Units

168 Apartments in 2 Buildings
Studios, 1, 2 and 3 Bedrooms

Building Size

150 Square Feet in 2 Buildings
7 Floors

Development Cost

$45.1 Million

Capital Financing

NYC HPD Cornerstone Program

NYC Housing Development Corporation

NYC HPD Loan

Letter of Credit from Private Bank

Private Equity Investment

Co-Developers

L&M Development Partners Inc.
NY ACORN Housing Company, Inc.

Architect

SLCE Architects

Contractor

L&M Builders LLC

Located in the Brownsville neighborhood of Brooklyn, The Beacon will include two new buildings with affordable rental apartments serving a wide range of household incomes. The site, an unused City-owned parking lot, was awarded through NYC HPD’s Cornerstone Program and is to be developed pursuant to a re-zoning. The buildings will incorporate a substantial number of high-efficiency and green elements to reduce utility expenses for the building and residents. The contemporary façade incorporates extensive precast elements, large oversized windows, and rich brick colors to set a strong modern tone for the changing neighborhood.

Rendering

Site Plan

Typical Two Bedroom Unit

Site Before Construction:
Hopkinson Avenue

Site Before Construction:
Bristol Street