City and State Officials Announce Completion of Coney Island Affordable and Supportive Housing Development
The new building is 500 feet from the beach and boardwalk. On March 30, 2022, Governor Kathy Hochul and the New York City Department of Housing Preservation and Development (HPD) announced the completion of a new affordable and supportive housing development at Coney Island , Brooklyn. The mixed-use development, called Raven Hall, has 216 affordable apartments and retail on the ground floor. It is located at 2006 Surf Avenue. The development team consists of Georgica Green Ventures, LLC and New Density Housing and was created as part of the state’s efforts to increase affordable housing throughout the state.
Of the 216 affordable units, 193 units are for households with a regional median income (AMI) of 60% or less, 22 units are for an AMI of up to 90%, and 77 units are reserved for homeless families. . These families will receive on-site support services from New Density Housing.
Raven Hall includes a community hall and a large terrace, a fitness center, a laundry room, a warehouse and a children’s room. The building also contains a paid public car park.
The 22-story building is named after the Ravenhall Baths, Coney Island’s largest saltwater swimming pool, which opened as a hotel in 1867 and closed in 1963 after being destroyed in a fire. Raven Hall is the second building in a seven-phase redevelopment of the Bath site, a two-block parcel on Coney Island that contains mostly vacant or underutilized land located between the promenade and Surf Avenue. The first phase, Surf Vets Place, is a 135-unit apartment building for homeless families and veterans and was completed in 2019.
Raven Hall cost $133 million, with funding of $19 million in permanent tax-exempt bonds, federal and state low-income housing tax credits generating $50.2 million in capital own and $16.2 million in grant funding from New York State Homes and Community Renewal. HPD provided $36.7 million in grants through the Extremely Low and Low Income Accessibility Program (SHE) program.
The state’s current housing plan aims to create and preserve 100,000 affordable housing units, including 6,000 with supportive services. The state is expected to achieve this goal this year.
Governor Hochul said, My administration will continue to address the housing crisis through high quality affordable housing projects that will improve the lives of residents and create vibrant communities. This $133 million mixed-use development in Coney Island will improve the quality of life for residents and the wider community, while building a stronger economic future for this unique historic neighborhood.
HPD Commissioner Adolfo Carrión Jr. said, The completion of Raven Hall marks another major milestone in the city’s investment to bring more affordable housing and public amenities to Coney Island. This new development serves extremely low-to-moderate income New Yorkers, provides critical supportive housing for homeless families, and moves our city in the right direction when it comes to creating permanent, safe homes for people in the need. Thank you to our HPD team and our partners at New York State Homes and Community Renewal, Georgica Green Ventures, New Destiny Housing, the New York City Economic Development Corporation and our dedicated elected officials for making this new development possible.
By: Veronique Rose (Veronica is a CityLaw Fellow and a graduate of New York Law School, Class of 2018.)