Harlem's Triangle Court project comes full circle.
The three phases of Triangle Court represent the success of five years of efforts led by CPC, HPD, HDC, Community Board 10, Manhattan Borough President C. Virginia Fields, Councilmember Bill Perkins, and other elected officials and community activists. After watching the area's housing stock decline over the years, community leaders and local officials became tireless advocates for the preservation and creation of safe, quality living options that would serve the diverse economic needs of the community.
As a result of those efforts the first phase of Triangle Court, Triangle I, was built in 1998 with financing from the HDC and CPC. Triangle I created 50 apartments and two retail stores. Triangle II, which was completed in 2002, added another 40 residential units and one retail location. The final phase, Triangle III, has transformed eight vacant, city-owned lots into 97 affordable apartments, for a total of 187 new and rehabilitated units in the Triangle Court development.
Of Triangle III's 97 units, 77 are for middle-income residents, 16 for low-in come tenants and four for very low-income tenants. Middle-income rents are $1,024 per month for a studio, $1,375 for a one-bedroom, $1,775 for a two-bedroom, and $2,075 for a three-bedroom apartment.
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|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Jun 1, 2005|
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