September 26, 2016 6:39 PM ET

Company Overview of The Phipps Houses Group

Company Overview

, NY 

United States

Key Executives for The Phipps Houses Group

The Phipps Houses Group does not have any Key Executives recorded.

The Phipps Houses Group Key Developments

The AFL-CIO Housing Investment Trust Invests $8.26 Million Towards Hunter's Point South in New York in Joint Venture Between the Related Companies, Phipps Houses and Monadnock Construction

The AFL-CIO Housing Investment Trust announced an investment of $8.26 million towards construction of Hunter's Point South Building A, a 37-story, multifamily development in Queens, NY that will offer 619 housing units, 13,500 square feet of retail space and 250 parking spaces. The HIT investment will create approximately 195 union construction jobs. Apartments in the $233 million development will be permanently affordable to low, moderate and middle-income residents. 20% of the units will be affordable to residents earning 50% of area median income (AMI), 20% affordable to those at 130 of AMI, 27% affordable to those at 165% of AMI and 33% affordable to those at 230% of AMI. 5% of the units are reserved for municipal employees including teachers, police officers, firefighters and transit workers, allowing access to quality, affordable and convenient housing. This new development located near public transportation will house New Yorkers who cannot afford New York's high market rate rentals, and who are not being served by existing low-income housing programs. The City's housing stock is not keeping pace with its burgeoning population, which is expected to exceed 9 million people by 2030. The project is being developed and constructed through a joint venture between The Related Companies, Phipps Houses and Monadnock Construction.

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Recent Private Companies Transactions

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