Categories: Openings
06.25.2018
Named after Win’s former president, Bonnie Stone, Stone House will bring 160 units of affordable and supportive housing to the Brownsville neighborhood of Brooklyn.
On Thursday June 14, Win celebrated the opening of Stone House, the largest supportive housing development for families in New York State. Named after Win’s former president, Bonnie Stone, Stone House will bring 160 units of affordable and supportive housing to the Brownsville neighborhood of Brooklyn.
Win’s CEO Chris Quinn welcomed the audience and introduced all the speakers for the program that included: Former Win CEO Bonnie Stone; Maria Torres-Springer, Commissioner of the NYC Department of Housing Preservation and Development (HPD); Paula Roy Carethers from NYC Housing Development Corporation; Dana Greenberg from NYS Office of Temporary and Disability Assistance (OTDA); Jeff Barker, NYS President for Bank of America Merrill Lynch; Maygen Moore from the Corporation for Supportive Housing, as well as representatives from the Brooklyn Borough President Erik Adam’s office and NYC Mayor’s Office of Environmental Remediation.
“We know that New York City is battling twin crises of homelessness and affordable housing. Low income wages are not growing but rents are just always on the rise. And this crisis is a crisis for families,” said Chris Quinn in her opening remarks to the audience.
Bonnie Stone, who was Win’s CEO when this project kicked off, thanked all the partners for the successful completion of this project and expressed her immense joy at seeing Stone House ready to take in residents.
“This is such a gift. 160 families have found their homes here at Stone House,” she said.
HPD Commissioner, Maria Torres-Springer also spoke at the event. She congratulated Win and announced the approval by city government of an additional $100 million in capital funding to accelerate the development of supportive housing from 500 to 700 units.
“Developing supportive housing and working to end homelessness is not a marathon or a sprint, but a relay. We have to keep going and pass on the baton to the next person. It really is heartwarming and such an honor to be here today,” she added.
The star of the show though was a tenant of Stone House, Regina Wright. She shared with the audience her struggles and what it was like to finally be leaving a shelter with her two kids.
“When I saw this apartment I thought it was the model. Then they told me it was mine! I cried,” she said.
Replacing a vacant lot, Stone House took 10 years from concept to development. It features a computer lab, a beautiful children’s playground, and a community room. It provides 96 supportive housing units and 64 affordable units at a time when more than 60,000 people are homeless in New York City.
The funding for Stone House was provided through a tax credit equity by the HPD Supportive Housing Loan Program, the NYC Housing Development Corp., the New York State Homeless Housing and Assistance Program under the Office of Temporary Disability Assistance, Department of Justice Settlement Funds through Bank of America Merrill Lynch, the Mayor's Office of Environmental Remediation, Corporation for Supportive Housing, and low income housing tax credit (LIHTC). Equity
Corporate partners include The Richman Group as LIHTC syndicator, the Bank of America Merrill Lynch as construction lender, Win joint venture partners FCA Realty, with additional support from the Google Community Foundation and Riley Home, which is providing blankets to new residents.
The development offers comprehensive social services funded by the NYC Department of Health and Mental Hygiene. Stone House was designed by Urban Architectural Initiatives (UAI) and the contractor was Cheever Development Corporation.