September 12, 2017, BROOKLYN, NY—The Doe Fund and Crystal Ball, LLC announced today the topping out of Crystal Tower, an affordable and supportive housing development in the Flatbush neighborhood of Brooklyn. An American flag was erected on the top of the building to mark the milestone.
Located at 1355 Rogers Avenue, Crystal Tower will provide 123 new apartments—a mix of studio and one-, two-, and three-bedroom units—for extremely low- and low-income individuals and families. 74 apartments will be reserved specifically for formerly homeless individuals. 41 apartments will be reserved specifically for seniors and their families currently on New York City Housing Authority’s wait list. 8 three-bedroom units will be available via community lottery.
The eight-story building will comprise approximately 91,100 square feet of residential space. Onsite clinical case management will be provided by The Doe Fund. Additional onsite supportive services and amenities, including laundry facilities, a multi-purpose room, and an outdoor recreation area, will also be available to residents.
George T. McDonald, Founder and President of The Doe Fund said: “We are so proud to join our partners in this important step toward a more equitable housing market for New Yorkers. Affordable housing doesn’t simply benefit individuals who live inside these buildings—it brings stability, diversity, and vibrancy to entire neighborhoods like Flatbush, and benefits our city as a whole. Crystal Tower is a perfect example of what can be achieved through the dedication and collaboration of our elected officials, our city and state agency partners, and, of course, our private sector and financial partners.”
Kevin Johnson, Managing Member of Crystal Ball LLC said: “On behalf of my mother, Grace Johnson, it is extremely gratifying to be a part of this milestone achievement in this development. This initiative promises great potential for the Flatbush community that we have been a part of for over twenty-five years. This is a monumental step in fulfilling the promise to bring affordable housing for well deserving residents of New York City. Crystal Tower will have a positive impact for generations to come.”
The $57.6 million development is part of Governor Cuomo’s statewide commitment to affordable housing and community renewal, and Mayor Bill de Blasio’s ‘Housing New York: A Five-Borough, 10-Year Housing Plan,’ to create and preserve 200,000 units of affordable housing. The New York City Department of Housing Preservation and Development provided Low-Income Housing Tax Credits and $7.9 million in City Capital. The New York City Housing Development Corporation provided $27.8 million in Tax Exempt Bonds towards construction financing and $6.8 million from their corporate reserves. The project has also received $5 million in financing through the New York State Homeless Housing and Assistance Program and $147,600 from the New York State Energy Research and Development Authority. Brooklyn Borough President Eric L. Adams and Council member Jumaane Williams each contributed $500,000 towards the development of this project. JP Morgan Chase Community Development Banking is the lender. Raymond James Tax Credit Funds is the project’s tax credit syndicator.
Construction on Crystal Tower began in May 2016 and is expected to be completed in June 2018. M. Melnick & Co., Inc. is the project’s general contractor; Delacour, Ferrara & Church Architects, P.C. is the project’s architectural firm.
The Doe Fund develops and operates several affordable and supportive housing initiatives for diverse individuals including low-income seniors and families, populations with disabilities, formerly homeless individuals, and those at risk of becoming homeless.