Categories: New York City, Member News, Openings
02.19.2026
On a celebratory February 18th, Lantern Organization and Lantern Community Services, Mayor Mamdani, project partners and elected officials, celebrated the groundbreaking of Timbale Terrace. Once complete, this new affordable and supportive housing residence will create 341 affordable apartments, including 97 supportive housing units, in East Harlem. Lantern Community Services will provide on-site services funded through NYC 15/15 administered by the NYC Department of Health and Mental Hygiene (DOHMH).
Timbale Terrace will also become as the permanent home of Casa Belongó Music & Arts Center, featuring more than 20,000 square feet of cultural space dedicated to music education, performance, and community programming.
Mayor Zohran Mamdani joined the event and shared, “Timbale Terrace is a testament to the city we are building together—where every person can afford a roof over their head.”
Mega Contracting Group Development Principal Emanuel Kokinakis, who emceed the event, said, “This is a home for generations to come—one that families will be proud to return to and proud to call beautiful.”
Lantern Organization President and CEO Dan Kent said, “NYC has one of the highest rates of homelessness. For too long, many communities have said no to new housing, fueling our affordability and homelessness crises. This neighborhood said yes—to new homes and to supportive housing.”
NYC Comptroller Mark D. Levine said, “This patch of land symbolizes both the struggles and the opportunities of housing in New York City.”
Manhattan Borough President Brad Hoylman-Sigal said, “This is community planning at its best—showing how arts and culture can be meaningfully integrated with housing.”
Marietta Ulacia, Executive Director of Belongó - Afro Latin Jazz said, “This is the world we’ve been working toward—where young people learn their history, feel a deep sense of belonging, and where this space will be alive with music and positivity.”
Asahi Pompey, Global Head of the Office of Corporate Engagement and Chair of the Urban Investment Group at Goldman Sachs also spoke, and the celebration featured live jazz performed by Casa Belongó.
Timbale Terrace building amenities will include three open air roofs and terrace areas, a community room, fitness room, and panoramic view of the City.
Funding for the project came from 4% Low Income Housing Tax Credits (LIHTC) with Housing Development Corporation (HDC) bonds, Goldman Sachs as construction lender and tax credit investor, NYD department of Housing Preservation and Development (HPD) Extremely Low-Income Affordability (ELLA) program, and grants.
The general contractor is Mega Contracting group and the architect is Urban Architectural Initiatives (UAI).
The Network was proud to provide strategic guidance, mobilize supporters, and testify in support of the project in the face of significant NIMBY opposition. We were thrilled to celebrate this important milestone.