announced<\/a> an additional 200 units of affordable housing as part of the overall East 125 Street Development (E125) project, bringing the total number of affordable units to 800, thanks to agreements from The Richman Group, Equity One and Monadnock Development.<\/p>\n“The vision for this site reflects the needs and voices of the community, and is exactly the type of mixed-use, mixed-income development envisioned in Mayor de Blasio\u2019s Housing New York,” said HPD Commissioner Vicki Been, calling it “a plan that leverages the City\u2019s investments to uplift whole communities.”<\/p>\n
The NYCEDC has worked steadily toward the revitalization of East 125th, dubbed “Harlem’s Main Street,” since 2003, when they began research for a comprehensive revitalization plan. The plan was approved by the City Council in 2008. The goal is to “create incentives for new mixed-use development” and preserve “the scale and character of areas with a strong built context.” Notable projects include preservation of the Corn Exchange Building’s facade while adding office\/retail and completion of a large-scale affordable housing complex at Third Avenue.<\/p>\n
East Harlem has seen sluggish economic recovery since 2008, consistently reporting the highest unemployment rates in the city. Last year, 60 percent of households reported<\/a> income under $39,000 per year and 38 percent lived below the poverty line.<\/p>\nCity Council Speaker Melissa Mark-Viverito hopes this\u00a0project will\u00a0encourage further investment in the community. \u201cThis project [E125] seeks to address several longstanding needs …including affordable housing, open space, employment opportunities for local residents and support for local businesses,” she said.<\/p>\n
![\"East](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2015\/12\/East-Harlem-compressed.jpg\")
<\/a>Photo: Adnan Islam\/Flickr<\/a><\/em><\/p>\n