September 14, 2017
BEC Phase II

GH represented BEC New Communities Housing Development Fund Company, Inc. for their affordable housing preservation project called BEC Phase II, which was co-developed in partnership with The Hudson Companies, Inc. This Year 15 preservation deal consolidated eleven portfolios, including 552 residential units and 12,546 square feet of commercial space. The project included buildings located throughout Brooklyn, NY, but primarily concentrated in the Bedford-Stuyvesant and Crown Heights neighborhoods. The unique project preserved the occupied affordable housing apartments which service residents of low income. The project was financed through the issuance of tax-exempt bonds, low-income housing tax credits and mortgage loans.