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Throop Corners Affordable Development Breaks Ground At 88 Throop Avenue In Broadway Triangle, Brooklyn

Construction is now underway at 88 Throop Avenue, the first of five affordable housing developments planned for the Broadway Triangle neighborhood in Brooklyn. Located at the convergence of Williamsburg, Bushwick, and Bedford-Stuyvesant, the 140-unit property will debut as Throop Corners.

In 2019, the New York City Department of Housing Preservation and Development (HPD) and the Housing Development Corporation (HDC) designated the five sites to non-profit developers St. Nicks Alliance, RiseBoro Community Partnership, Southside United Housing Development Fund Corporation-Los Sures, and United Jewish Organizations of Williamsburg and North Brooklyn. The development collective is referred to as Unified Neighborhood Partners.

Mega Contracting, a privately owned developer, is working alongside the collective to complete 88 Throop Street, in addition to local design studio Marvel Architects. Mega Contracting will also serve as builder for the remaining four properties.

The building’s 100-percent affordable component will range from studios up to four-bedroom units. The three- and four-bedroom units will offer laundry hookups and double sinks. All of the apartments will be available at or below 80 percent area median income (AMI), plus a small collection reserved for formerly homeless New Yorkers.

“People are struggling with a lack of affordable housing and displacement, but together, we’re going to ensure Brooklyn and this city remain home to the people who love it and make it what it is,” said Brooklyn borough president Antonio Reynoso. “Breaking ground on a decades-in-the-making housing project means hundreds of people are one step closer to an affordable, safe, and high-quality place to call home.”

“Today’s groundbreaking celebration marks the first phase in a far-reaching Passive House development that will have lasting impacts for the Broadway Triangle neighborhood,” said HDC president Eric Enderlin. “Throop Corners will offer safe and affordable homes, in addition to onsite workforce development services for New Yorkers in need, including formerly homeless individuals and families.”

Financing for 88 Throop Avenue was sourced from a mix of public and private entities. This includes HPD’s Extremely Low- and Low-income Affordability (ELLA) program, HDC’s tax-exempt city bonds, the NYS Brownfield Cleanup Program, and the New York State Energy Research and Development Authority Multi-Family New Construction Program.

The project also received city capital grant funds from former City Council member Steve Levin and former Brooklyn borough president, now mayor, Eric Adams. Tax credit syndication was provided by Enterprise Community Partners and a construction loan was provided by TD Bank, N.A. Pre-development financing was provided by the New York Green Bank.

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NYY