Lower East Side senior housing project secures $105M in city bonds

Nearly 200 affordable units for seniors are coming to the Lower East Side.  Nonprofit Grand Street Guild has secured $105 million in financing to build a 16-story complex at 145 Broome Street. About $32 million will come directly from the city.  New York’s Department of Housing Preservation and Development will lend $19.5 million under its program for senior housing. Called SARA, the initiative offers funding for the construction of fully affordable buildings for seniors with on-site services and rental assistance.  The 191 studios and one-bedroom units will be available to adults over 62 who are in the bottom quartile of […]This article originally appeared on The Real Deal. Click here to read the full story.