© 2017 by MADDD EQUITIES

GRANVILLE PAYNE APARTMENTS - BROOKLYN, NY

The Granville Payne Apartments, a seven-story mixed-use apartment building located in East New York, Brooklyn. The building contains 16,700 square feet of ground floor commercial space, which will be home to a Key Food supermarket. Located at 626 Sutter Avenue, between Sheffield and Pennsylvania Avenues, the building will be named after East New York community activist and musician Granville Payne.The development was built on City-owned land that was conveyed through HPD’s Cornerstone Program, a multifamily new construction initiative designed to facilitate the construction of mixed-income housing. HDC financed the construction phase, issuing $12.25 million in tax-exempt bonds through its Low-Income Affordable Marketplace Program (LAMP).The Granville Payne development contains 103 affordable units reserved for families and individuals earning up to 55% of the HUD Income Limits, which is equivalent to $42,240 for a family of four or $29,590 for an individual. 

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