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Millions of Americans still face housing insecurity as a result of the COVID-19 pandemic, with nearly 15 percent behind on rent payments at the end of June. New York City not only houses the majority of the State’s renters but also had relatively high rates of rent-burdened tenants to the pandemic.
LIHC Investment Group and Silver Street Development Corporation have acquired a 134-unit low income housing development in Tuckahoe, NY, for $54.5 million
The joint venture secured $71 million in financing to acquire and preserve Marble Hall Apartments as affordable housing through at least 2060 while investing $5.78 million in upgrades and improvements over the next ten months.
“The preservation of Marble Hall guarantees the availability of affordable, healthy homes well into the future while providing peace of mind for our residents during a time of uncertainty for many American families,” said Andrew Gendron, Principal, LIHC Investment Group. “This deal was truly a team effort, from the sellers to the many public and private partners who rolled up their sleeves to make this intricate transaction a reality. We applaud all parties for working to ensure our existing stock of affordable housing is both protected and improved.”
How Peggy Shepard helped spearhead environmental action in West Harlem
How Peggy Shepard helped spearhead environmental action in West Harlem WE ACT for Environmental Justice / Courtesy of The three co-founders of WE ACT for Environmental Justice. Peggy Shepard the current executive director of WE ACT is pictured on the left, the late Chuck Sutton is in the center, and Miller-Travis is on the right. By Maya Lameche | March 7, 2021, 11:12 PM
In honor of Women’s History Month, Spectator is publishing a series on notable women of Columbia and the West Harlem community. Peggy Shepard, a longtime Black activist for environmental justice in West Harlem, co-founded the organization WE ACT for Environmental Justice and serves as its current executive director.