HDC Approves $135M in Financing for Construction,... -
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Last Visited: 9/25/2006
,We,re going to issue bonds by the end of October, now that they,ve been approved,, Aaron Donovan, an HDC spokesperson, told MHN. ,The next step in the process is to start construction a few months after that.The typical time frame, as far as construction, is about 18 months.,
Three occupied seniors housing buildings in Brooklyn have been approved for $20.6 million in financing for repairs.The HUD Section 202 communities, which are comprised of 263 apartments, are located at 230 Kingston Ave. in Crown Heights and at 609 Metropolitan Ave. and 318 Devoe St. in Williamsburg.All current residents in units that are scheduled for repairs will not need to relocate, Donovan said.
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Aaron Donovan