NJBIZ.com, November 24, 2015 | Category: Press
A New York-based developer will build a 64-unit apartment complex in Jersey City that will be entirely reserved for low- and moderate-income housing, city officials said Tuesday.
The firm, the Genesis Companies, will develop the property known as the Lena Frances Edwards Apartment buildings at 445 Ocean Ave., replacing a blighted property that has been demolished, according a to a news release. Five of the units will be dedicated to housing homeless veterans, while the overall complex will include 12 one-bedroom units, 36-two bedroom units and 16 three-bedroom units. Read article HERE
Crain's New York Business , November 22, 2015 | Category: Press
At least one major sale appears to have gone smoothly. This past May, Abyssinian sold 28 brownstones and low-rise apartment buildings for $26 million to a lower Manhattan-based group called Genesis Cos. The firm is run by Karim Hutson and Brian Benjamin, native New Yorkers who met at Harvard, where the Pathmark development was a case study in their business-school class. To Butts, these young developers personify everything he's tried to achieve.
“These are minority developers, young black men, and would they get an opportunity if not for me making sure they got it?” he said. “Back in the '80s when this land was available, no black developer had a chance at it.” Read More
DNAinfo, November 12, 2015 | Category: Press
www.GlobalST.com, October 19, 2015 | Category: Press
NEW YORK CITY—The Rent Guidelines Board’s unprecedented vote this past June for a freeze on rates for one-year leases in rent-stabilized apartments hasn’t exactly put a freeze on multifamily investment sales here.
http://realestatefundmanager.net/, October 12, 2015 | Category: Press
HudsonReporter.com, July 23, 2015 | Category: Press
JERSEY CITY – Mayor Steven M. Fulop announced on July 23 that 285 units of new affordable housing have been approved over the past three months and nearly $6 million of Affordable Housing Trust Fund dollars have been invested in projects citywide as the administration forges a state model on how to create affordable housing alongside market rate development.
NJ.com, July 23, 2015 | Category: Press
Nearly 300 units of affordable housing have been approved over the past three months in Jersey City, while nearly $6 million of affordable housing trust fund dollars have been invested in projects across the city, Mayor Steve Fulop announced today.
Brown University: News from Brown, May 22, 2015 | Category: Press