MEC Parcel C
MEC Parcel C / 125th Street will be used to build a forty-nine (49) unit multi-family property with ground floor retail space located at 2295 Third Avenue, East Harlem, New York. Twenty-five percent of the affordable units forty-eight (48) will be reserved for individuals or families whose income is no greater than 50% of Area Median income (AMI) and 75% of the affordable units will be reserved for individuals or families whose income is no greater than 60% of Area Median Income.
One East Harlem Development
The One East Harlem development will bring 400 apartments to East Harlem
Work has started on a huge East Harlem development that will bring 400 apartments, retail space and 10,000-square-feet of public open space to the corner of Third Avenue and East 125th Street.
Construction on the development, called One East Harlem, is expected to last two years. The building is being financed by the city Department of Housing Preservation and Development and the city Housing Development Corporation, which are contributing a combined $122 million to the project through the city’s Mixed-Middle Income Program.
Of the development’s 400 apartments roughly 300 will be offered at rents below the market rate, city officials said. The building will be developed by Richman Group Development Corporation, Bridges Development Group, Monadnock Development, Hope Community Inc. and Operation Fightback El Barrio.
In addition to residential units, the development will feature 65,000 square feet of retail space of which 5,000 square feet will be dedicated for local small businesses, city officials said. The development will also house nonprofit Groove With Me, which offers free dance classes for kids, in a 5,000-square-foot space.
Food Bazaar, a supermarket with dozens of locations in the New York City area, has secured a 20-year lease to occupy a 45,885-square-foot, two-story space in the One East Harlem development on Third Avenue and East 125th Street.