Haussmann Development closed on a $7.5-million land purchase of 10,166 square feet for a new mixed-income development located on 16-20 Convent Ave. in West Harlem. The 10-story development will transform the vacant space into 75 apartments, including 15 affordable at 60% Area Median Income (AMI), with one- and two-bedroom layouts.
This new development is Haussmann’s fifth project in Northern Manhattan. It will be developed under the 485-x tax incentive program alongside the City of Yes UAP (Universal Affordability Preference) for the affordable housing portion, making it one of the first developments in the city to integrate both initiatives.
“This new development represents our commitment to tackling the housing crisis while creating beautiful and quality homes for our tenants,” said Josef Goodman, principal at Haussmann Development. “We’re proud to get the work started on delivering another mixed-income building to Upper Manhattan – one that will make a lasting impact on the community and serve as a model for fellow developers.”
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