New York, NY. Nixon Peabody advised BFC Partners in developing Stonewall House, a 100% low-income, age-restricted affordable housing project for LGBT elders—the first of its kind in New York City.
Located in the heart of Fort Greene, Brooklyn, Stonewall House features 145 affordable housing units—a combination of one-bedroom and studio apartments—available to seniors 62 years of age and older. Thirty percent of the units are reserved for formerly homeless individuals either from transitional or emergency shelters, or directly from the streets. A Section 8 project-based voucher ensures that housing remains affordable to any resident earning 60% below the area median income.
In partnership with Services & Advocacy for LGBT Elders (SAGE), Stonewall House includes the nonprofit’s sixth Ingersoll Senior Center, providing on-site social services—such as nutrition and cooking classes—to the development’s residents and LGBT elderly.
Using principles established by the American Society of Interior Designers, Design for Aging Council, and the NYC Active Design Guidelines, Stonewall House has large spaces for easy wheelchair access, spacious walk-in showers, and slip-resistant floors and grab bars. Abiding by the EPA’s Energy Star Multifamily High Rise certification, the development also includes state-of-the-art rooftop solar panels to power a portion of the community’s common areas. The affordable housing development also includes amenities such as a fitness and recreation room, a library and computer room, and an outdoor terrace to encourage resident interaction and group activities.
Nixon Peabody represented BFC Partners in the financing for this project, which included a tax-exempt bond loan from the New York City Housing Development Corporation as well as low-income housing tax credits awarded by the New York City Department of Housing Preservation and Development.
Nixon Peabody’s deal team was led by Affordable Housing and Real Estate partner Joseph Lynch.
“It was an honor working with BFC Partners, SAGE, and the City of New York. I commend them for their leadership and collective commitment to the LGBTQ community, without which Stonewall House would not have been made possible,” said Joe. “Stonewall House is not just a home and a safe haven for LGBTQ elderly in New York but a beacon of hope for all LGBTQ across the country.”
For further information, please see the following press release: Stonewall House, New York's First LGBT-Friendly Affordable Elder Housing, Opens in Fort Greene
