AFFORDABLE HOUSING

& REAL ESTATE DEVELOPMENT

Proven Expertise in Affordable Housing Development

Since its founding in 1995, Bridge Street has successfully developed and rehabilitated over six hundred units of affordable housing across Central Brooklyn, transforming blighted properties into vibrant community assets. Our projects, ranging from small-scale renovations to large, complex rehabilitations, demonstrate our ability to navigate challenging development landscapes while delivering high-quality, affordable homes. Key achievements include:

NYC’s Neighborhood Homes Program: Bridge Street renovated and sold seventy-nine one- to four-family homes, providing affordable homeownership opportunities with low-interest loans to encourage long-term residency. For example, the 163 Hancock project significantly increased property values, benefiting homeowners and strengthening community stability.

Joshua Court: The rehabilitation of this 52-unit building addressed severe blight, introducing energy-efficient systems and upgraded security features to enhance resident safety and quality of life.

Quincy Senior Residences: Bridge Street has been dedicated to addressing the needs of older adults through our Older Adult Services and the operation of Quincy Senior Residences (QSR), an affordable independent living facility that provides seniors with holistic support. We understand the unique challenges faced by older adults, including the importance of supportive services, social engagement, and healthcare access, which are critical to maintaining dignity and independence as they age in place.

Kings Covenant: A large-scale rehabilitation of nine buildings with seventy-four units. This project preserved the historical character of the neighborhood while integrating energy-efficient upgrades and ensuring compliance with NYC Landmarks requirements.

Active Development Pipeline

Bridge Street maintains a dynamic pipeline of projects, ensuring a continued supply of affordable housing. Current initiatives include:

ANC Putnam Cluster (Phase I): Rehabilitation of three city-owned buildings into affordable cooperatives, leveraging diverse funding sources such as City Capital subsidies, private loans, sales proceeds, and NYS AHC grants. Bridge Street’s role as Sponsor and Developer ensures project success and long-term affordability.
Affordable Neighborhood Cooperative Program (Phase II): Building on Phase I, this initiative creates additional homeownership opportunities through strategic partnerships and an Article XI tax exemption to ensure affordability.
Infill Development Home Ownership Initiative: Bridge Street seeks to acquire vacant lots to construct energy-efficient town homes, offered below market value to low-to-moderate-income families in Bedford-Stuyvesant and Central Brooklyn. State funding supports pre-development costs, ensuring project feasibility.

Comprehensive Project Management Capacity

Bridge Street’s project management expertise ensures the successful execution of complex affordable housing developments. Our comprehensive approach encompasses planning, financing, construction, and community engagement, resulting in projects that meet the highest standards of quality and impact. Key strengths include:

End-to-End Project Oversight: From acquisition and financing to rehabilitation and resident placement, Bridge Street manages every phase of development with precision. Projects like Kings Covenant and Joshua Court demonstrate our ability to transform distressed properties into thriving community assets while adhering to strict timelines and budgets.
Community-Centric Development: Bridge Street’s motto, “Building on Community Strength,” guides our approach. We engage residents, businesses, and stakeholders throughout the development process, ensuring projects reflect community needs and priorities.
Partnerships and Collaboration: Our work with city, state and federal agencies, JOE NYC, and other community organizations enhances our capacity to deliver large-scale projects. The ANC Putnam Cluster and Kings Covenant projects highlight our ability to leverage partnerships for maximum impact.
Compliance and Quality Assurance: Bridge Street ensures compliance with regulatory requirements, such as NYC Landmarks standards, while integrating modern upgrades like energy-efficient systems and enhanced security features to improve resident quality of life.

Conclusion

Bridge Street Development Corporation is a proven leader in affordable housing development, with 30 years of experience delivering high-quality, energy-efficient, and sustainable homes in Central Brooklyn. Our expertise in affordable housing finance, innovative approach to sustainability, and robust project management capacity enable us to transform communities while preserving their cultural and historical significance.

Supported by a resolute leadership team and strategic partnerships, Bridge Street is poised to continue its legacy of “Building on Community Strength,” creating vibrant, equitable, and thriving neighborhoods for generations to come. We invite partners, stakeholders, and investors to join us in our mission to deliver impactful, affordable housing solutions that empower Central Brooklyn’s residents.

LOCATION:
460 Nostrand Avenue
Brooklyn, NY 11216

EMAIL:
info@bsdcorp.org

PHONE:
(718) 399-0146

HOURS:
Mon – Fri : 9:30am – 5:30pm
Sat – Sun : Closed

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