Two Hope Crossroads HDFC Buildings on East 124th Street
Renovated as Affordable Rental Housing
 In December 2006, Hope Community, Inc. held a ribbon-cutting ceremony for its Hope Crossroads HDFC development, which consists of two buildings located at 154 and 156 East 124th Street between Lexington and Third Avenues.
Hope's former Executive Director William Jacoby was joined at the ceremony by board members Roger Cabán and William Ofenloch, along with members of the agency’s development and property management team. Other guests included representatives from the Community Preservation Corporation, HPD’s Small Building & New Partners Program (Neighborhood Restore HDFC), project architect William Robert King, and Tommy Zoitas of TMA Contracting.
After the outdoor dedication ceremony, guests ventured inside for a tour of the ground floor garden apartment. “These brownstones will play an important role in the revitalization of this block,” explained Mr. Cabán.
 “Although the project was quite a challenge to accomplish, we are pleased to have completed the buildings. This is another example of a community based not-for-profit organization successfully helping to revitalize the East Harlem community,” he added.
The development also compliments the agency’s other efforts to bring better housing and amenities to the northern portion of East Harlem such as the new youth mural and renovated community garden around the corner on Lexington Avenue between East 123rd and 124th Streets.
“Our success is largely due to the hard work and dedication of our development team, who worked closely with the architect, William Robert King, and the general contractor, TMA Contracting, to see this project to fruition,” added Mr. Jacoby. “We are also grateful to the Department of Housing Preservation and Development and the Community Preservation Corporation for financing to enable us to fulfill our mission.”
 Once badly dilapidated, structurally unstable and virtually uninhabitable, the Hope Crossroads HDFC brownstones were acquired by Hope from the City of New York through its Third Party Transfer Program.
With financing from HPD and CPC, the structures were completely gutted, rebuilt and converted into eight affordable residential studios and four one-bedroom apartments. While most occupants were permanently relocated into Hope’s portfolio, four tenants that were temporarily relocated will return to the buildings upon completion of construction in December 2006. |
