March 30, 2022

Raven Hall Delivers 216 Affordable Homes and Retail Space to Coney Island Neighborhood

Development Includes 77 Apartments with On-Site Supportive Services for Families Experiencing Homelessness

Photos Available Here

CONEY ISLAND – Governor Hochul, City and State officials, and development partners today announced the completion of a $133 million affordable and supportive housing development in Brooklyn’s Coney Island neighborhood. Known as Raven Hall, the development includes 216 affordable apartments, ground floor retail space. Seventy-seven homes are reserved for families experiencing homelessness.

Raven Hall consists of a single 22-story building with 216 apartments and 8,500 square feet of ground floor retail space. The development includes a paid public parking garage with 102 spaces operated by a third party.

There are 193 apartments for households earning at or below 60 percent of the Area Median Income and 22 apartments for households earning up to 90 percent of the AMI. There is one apartment for a superintendent.

The development includes 77 apartments reserved for families experiencing homelessness. These households will have access to on-site services and programming provided by New Destiny Housing. Services and rental subsidies are funded by the Empire State Supportive Housing Initiative and administered by the New York State Office of Temporary and Disability Assistance.

Raven Hall is the second phase of a seven-phase redevelopment of Coney Island’s Bath Site, a two-block parcel consisting mostly of vacant and underutilized lots. Located between the boardwalk and Surf Avenue, the parcel separates the eastern and western sides of the Coney Island neighborhood. The redevelopment is designed to improve the pedestrian connection between the two sides and increase foot traffic along the corridor.

Residential amenities at Raven Hall include a community room with a large terrace, a fitness facility, a children’s room, a laundry room and storage. The development is located 500 feet from the Coney Island Beach and Boardwalk and within walking distance of the New York Aquarium, the Ford Amphitheater, a community garden, restaurants, several bus stops and a major subway station.

The development team consists of Georgica Green Ventures, LLC and New Destiny Housing.

The project’s name of Raven Hall pays tribute to the Raven Hall Baths, the largest saltwater pool in Coney Island that opened as a hotel 1867 and was destroyed in a fire in 1963.

State financing for the $133 million development includes $19 million in permanent tax-exempt bonds, Federal and State Low-Income Housing Tax Credits that generated $50.2 million in equity, and $16.2 million in subsidy from New York State Homes and Community Renewal. The New York City Department of Housing Preservation and Development provided $36.7 million from the Extremely Low and Low-Income Assistance program.

The first phase of the Bath Site redevelopment, known as Surf Vets Place, was completed in 2019 and features 135 apartments for families and homeless veterans. The project was financed by HCR and HPD.

Raven Hall is part of Governor Hochul's sweeping plans to make housing more affordable, equitable, and stable. This year, the State is poised to reach the goal of its current Housing Plan of creating and preserving 100,000 affordable homes and 6,000 with support services. Governor Hochul is building on this successful effort with a proposal for a new $25 billion, five-year Housing Plan that will create and preserve an additional 100,000 affordable homes in urban and rural areas across New York including 10,000 with support services.

"My administration will continue to confront the housing crisis through high-quality affordable housing projects that will improve the lives of residents and create vibrant communities," Governor Hochul said. "This $133 million mixed-use development in Coney Island will enhance quality of life for residents and the entire community, while building a stronger economic future for this unique, historic neighborhood."

New York City Chief Housing Officer Jessica Katz said, "This ribbon cutting is an exciting moment in our efforts to house our neighbors, especially New Yorkers experiencing homelessness. Projects like Raven Hall will help us tackle our housing needs while also ensuring all neighborhoods have the resources and amenities they deserve. We are excited to partner with New Destiny, Georgica Green and our colleagues at HCR to support projects such as this and look forward to many more ribbon cuttings as we work together in helping all New Yorkers have access to safe, stable and affordable housing."

New York City Department of Housing Preservation and Development Commissioner Adolfo Carrión Jr. said, "The completion of Raven Hall marks another major step in the City's investment to bring more affordable housing and public amenities to Coney Island. This new development serves extremely low- to moderate-income New Yorkers, provides critical supportive housing for families experiencing homelessness, and moves our city in the right direction when it comes to creating permanent and safe housing for those in need. Thanks to our HPD team and partners at New York State Homes and Community Renewal, Georgica Green Ventures, New Destiny Housing, the New York City Economic Development Corporation, and our dedicated elected officials for making this new development possible."

New York City Economic Development Corporation President and CEO Andrew Kimball said, "Safe, quality, and affordable housing helps neighborhoods thrive. Raven Hall will provide much needed housing for a range of incomes, along with units for families experiencing homelessness. When New Yorkers have a safe place to live, they can access the services they need. They can focus on employment, education, and on their health. NYCEDC thanks all involved on this project, which supports the City's ongoing efforts to strengthen and revitalize Coney Island."

Homes and Community Renewal Commissioner RuthAnne Visnauskas said, "The State's investment in Raven Hall will continue the revitalization of Coney Island as a vibrant and diverse beachfront community and an even better place to live. With 216 apartments and retail space, residents will be able to live affordably and comfortably just steps from the historic boardwalk. Supportive services provided by New Destiny Housing to 77 households will help these families regain stability and achieve a brighter future. Congratulations to Georgica Green Ventures, New Destiny and our other partners for making this development a reality."

Office of Temporary and Disability Assistance Commissioner Daniel W. Tietz said, "Families experiencing homelessness often face health and social challenges that contribute to their housing instability. Located a short distance from Coney Island's iconic boardwalk, Raven Hall will provide safe, affordable housing for families in Brooklyn, along with the supportive services they can rely on to effectively address their needs and help ensure they remain housed. I applaud Governor Hochul for continuing to make supportive housing a central component of her five-year housing plan."

Dave Gallo, President of Georgica Green Ventures, said, "The GGV team is honored to provide this much needed affordable housing and housing for survivors of domestic violence in historic Coney Island! We are grateful to our many dedicated partners and the public/private partnership that helped us bring this vision into reality."

Nicole Branca, Executive Director of New Destiny Housing, said, "We are thrilled to be here with Georgica Green, our partners and colleagues, to celebrate the opening of Raven Hall. Providing affordable, permanent housing with trauma-informed services is the single most effective response to ending homelessness caused by domestic violence. Raven Hall provides more than apartments. With a lounge, meeting space, a children's playroom, and case management offices, it provides space for healing and for our survivors and their children to build a new community."

State Senator Diane Savino said, "I want to thank the stakeholders involved in this project. Public investment of this kind is key to being able to develop affordable units and offer new retail for a community that deserves its chance to succeed. This announcement also proves that government on all levels can still get things done for the people we represent."

Assemblymember Mathylde Frontus said, "After much anticipation, I am thrilled to welcome the arrival of Raven Hall on Coney Island! I offer my warmest congratulations to everyone involved in making this wonderful project a reality and bringing much-needed affordable housing to our community. As families across our city and state find themselves struggling with ever-rising rents and cost of living, a project of this magnitude, bringing 216 affordable housing units to our neighborhood, is exciting and a welcome relief. This building will be a great asset to our community and a great addition to Surf Avenue."

Brooklyn Borough President Antonio Reynoso said, "Throughout my career, I have been a strong advocate for affordable housing, and so the ribbon cutting of any new affordable housing structure is cause for celebration. This development is a prime example of what can be achieved when city government, coupled with state government and the private sector, work together toward a common goal. Further, Raven Hall will provide on-site support services for families experiencing homelessness, allowing these New Yorkers to build a stronger foundation to achieve more stability. These tools combined make a tremendous impact of lives. Thank you to New York State Homes & Community Renewal for this important work."

City Council Member Ari Kagan said, "I am delighted to participate in the grand opening of Raven Hall, a new important affordable housing development in Coney Island. The project created 216 affordable homes and retail space in Coney Island. It's equally important that this development includes 77 apartments with on-site supportive services for families experiencing homelessness. During the time of a dire need this great project will give many families and individuals a chance for a decent housing and a better future. I truly appreciate the joint hard work of many government agencies and private companies to make this successful project a reality for our community."

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