MANHATTAN, NY MAG Partners broke ground on their 188-unit, mixed-use project at 335 Eighth Ave. in partnership with Penn South (also known as Mutual Redevelopment Houses, Inc.). Dignitaries, including council member Erik Bottcher, helped to mark the occasion. Thirty percent of the new building’s units will be reserved for low- and middle-income residents under the Affordable NY Program. The project which was co-financed by MAG Partners and global holding company Safanad, will also offer ground-level retail space, including a 23,000 s/f Lidl supermarket.
Impact
MAG Partners, Safanad and Penn South Break Ground on 200,000 SF Mixed-Use Project
November 14 2023
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Real Estate Weekly
June 5 2023
Topping Out of 100 Percent Affordable Housing Development In Queens
13-12 Beach Channel Drive tops out in Far Rockaway Queens, New York.
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Multi-Housing News
March 20 2023
Easing NYC’s Affordable Housing Crisis: A Construction Manager’s Take
“Transitional housing provides a stepping stone for residents to find permanent, affordable housing,” says Andy D’Amico, President and CEO. “Supportive housing is a combination of housing and services intended as a cost-effective way to help people live more stable, productive lives.” Having lived and worked in NYC for over two decades, Andy has experienced the challenges that make supportive and affordable housing development difficult to pencil out. In the interview below, he discusses the headwinds the industry has been dealing with and touches on our role as construction managers to serve our community.
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