New Development/Now Selling & Leasing

Colon Plaza

Horsford & Poteat Realty in partnership with Colon Plaza Associates, LP and the 116th Street Block Association, a DHCR Neighborhood Preservation Company, propose to develop a new construction of 55 affordable residential units on three city-owned lots located at 53-57 East 115th Street between Park and Madison Avenues in East Harlem's Community Board 11. The Colon Plaza project is an effort to address the lack of affordable family housing in a rapidly gentrifying neighborhood in Manhattan's Upper Eastside. Eleven apartments will be reserved to provide comfortable, modern housing for 11 homeless families.

Sponsors: NYC HPD, NYC HDC, NYC HFA, City Council
Total estimated project cost : $16.8M

Click here for a rendering of the site.

Colon Plaza will provide decent, affordable housing for low-income families at risk of homelessness, including 7 families homeless as a result of domestic violence. Formerly homeless residents who are victims of domestic violence will receive support services from Violence Intervention Program, Inc., a non-profit community domestic violence organization. All Colon Plaza residents will receive limited on-site services from the 116th Street Block Association.

All of the residential units will be affordable to families with incomes at or below 60% AMI. The project will include 6 studio apartments at 460 sq. ft.; 24 one-bedroom apartments at 620 sq. ft.; and 25 two-bedroom apartments at 810 sq. ft. (including a superintendent's unit).

Community Board 11 will relocate its office to the newly created commercial space on the ground floor level of the building and the 116th Street Block Association will occupy community office space on the first floor and cellar level of the building. An additional 1,350 sq. ft. will be reserved and dedicated for community use.

Overall, Colon Plaza will be a seven-story building with a total gross floor area of 54,262 sq. ft. plus basement located in an R7-2 zoning district with C4-6 commercial overlay. The project design conforms to NYC Zoning Resolutions, NYC Building Code and DHCR's 2005 Design Handbook.

The apartment sizes and distribution reflects the urgent need for family-size units in Community Board 11.

 

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