Edison breaks ground in LES on their first residential project.Executives from Edison Properties, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , broke ground at 188 Ludlow Street Ludlow Street runs between Houston and Division Street on the Lower East Side of the New York City borough of Manhattan. It is a destination street for musicians and music-lovers, and is heavily populated with bars, restaurants, and clubs. to officially begin construction on Edison's first residential building, located at the southeast corner of Ludlow and East Houston Streets. The 210,000 gross square foot, 23 story, 243-unit residential building will be constructed with Hunter Roberts Construction Company acting as general contractor. The building was designed by Costas Kondylis & Associates. "2006 marks Edison's 50th anniversary. Entering into residential development in this dynamic location is the perfect way to celebrate this milestone. 188 Ludlow has been designed to complement and enhance this historic neighborhood and to meet the needs of the many people who want to enjoy the area's exciting stores and restaurants," commented Gary DeBode, president of Edison Properties. The $90 million dollar project will be financed through developer equity and tax-exempt bonds issued in accordance with the New York State Housing Finance Agency The New York State Housing Finance Agency (HFA) was created in 1960 as a public benefit corporation for the purpose of providing safe and sanitary housing accommodations at rental rates affordable to persons and families of low income. (HFA HFA Harvard Film Archive (Harvard University) HFA Harry Fox Agency, Inc. HFA Housing Finance Agency (District of Columbia government) HFA Hyogo Framework for Action HFA High-Functioning Autism ) 80/20 Program. The bonds will be credit-enhanced by Landesbank Hessen-Thuringen Girozentrale (Helaba Bank). In addition to providing 20% low income housing, the developer is setting aside 5% for moderate income tenants. Edison Properties, LLC, is a diversified real estate company that owns and operates Manhattan Mini Storage Manhattan Mini Storage (MMS) is a self storage company based in New York City, USA. It is the largest personal storage company in New York, and one of the largest in the United States. (17 locations in Manhattan), Edison ParkFast (40 locations in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey and Baltimore), and is a partner in the recently repositioned Hippodrome building located at 1120 Avenue of the Americas. |
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