CAMBA Gardens

Address: 690 & 738 Albany Avenue; Brooklyn NY 11203
Developer: CAMBA Housing Ventures, Inc.
Architect: Harden Van Arnam Architects, PLLC
Contractor: TBD
Social Service Provider: CAMBA, Inc.
Capital Financing: The sources of capital financing during both the construction and permanent phases are anticipated to include the following:

• NYC HPD Supportive Housing Loan Program
• New York State Homeless Housing and Assistance Program (HHAP) – application pending
• Tax exempt bonds issued by New York State Housing Finance Authority (HFA) 
• 4% as-of-right Low Income Housing Tax Credits
• Federal Home Loan Bank /AHP 
• Brooklyn Borough President Capital Allocation
• NYC Council Capital Allocation
• NYSERDA
• TD Bank: Credit Enhancement

Predevelopment financing provided by:  Corporation for Supportive Housing, Enterprise Community Loan Fund, JP Morgan Chase
Operations Financing: Rental and operating subsidies are anticipated to include the following:

• Awarded: NYC Department of Health and Mental Hygiene New York/New York III
• NYC Department of Homeless Services (DHS) SRO Support Subsidy
• Section 8 rental subsidy

Syndication: Enterprise Community Investment
Construction Start Date: Summer 2011-2013
Occupancy Date: Summer 2013
Number of Units: 209 units
Building Size: approx. 193,150 sq.ft.
Development Cost (anticipated): $68m

Project Description:
CAMBA Housing Ventures (CHV) is working with the New York City Health and Hospitals Corporation (HHC), Kings County Hospital Center (KCHC) and the Supportive Housing Division of the New York City Department of Housing Preservation and Development (HPD) to advance a $68 million national model to develop CAMBA Gardens: two LEED silver-rated buildings on side-by-side parcels (sites N and J), separated by an access road easement on the grounds of Kings County Hospital Center.  Together the two buildings of CAMBA Gardens will have 209 affordable and supportive units and 193,150 square feet, including the cellar space and parking.  The development will be comprised of two separate buildings, each with 3 six-story sections/wings and gardens will surround the buildings. The buildings will involve block and plank construction with a mix of brick and decorative masonry exterior.  The project has been accepted into the NYSERDA Multi-Family Performance and LEED for Homes programs.

CAMBA Gardens is poised to be a national model for the potential partnership between public hospitals and non-profit developers and service providers. This project presents a unique and beneficial opportunity to provide housing, while streamlining healthcare services for tenants and providing revenue for the hospital. This energy efficient and green development will feature 24-hour security, quality finishes and open space for tenants.  The N site will provide 114 units (98,649 sf) and the J site will provide 95 units (87,222 sf). Of the 209 units, 146 units will be leased to individuals and families with special needs, funded through NY/NY III subsidies for on-site services (132 studios, 5 one-beds, 6 two-beds and 3 three-beds).  The remaining 63 units, including two 2-bedrooms units for live-in superintendents (24 one-beds, 27 two-beds and 12 three-beds) will be leased to low-income families from the community earning no more than 60% of the current Area Median Income (AMI), as determined by HUD each year. Qualified residents residing in Community Boards 9 & 17 and qualified KCHC employees and patients may be given preference for these low-income family units.

CAMBA and Kings County Hospital Center share a common mission of providing critical services to the greater Flatbush community. At a time when optimal sites for affordable housing are difficult to locate and hospitals are forced to consolidate budgets and space, a unique opportunity presents itself for both agencies to become partners in addressing the community’s housing and health care needs.  The proposed project at Kings County Hospital will be a pilot development, showcasing the strengths of each partner, where both seek to expand their services in the community.  This development will re-use underutilized hospital property for much-needed housing, connect patients with stable housing, tenants with healthcare and provide additional revenue for the hospital and surrounding area businesses.  The proposed project will also be energy efficient and provide healthy indoor air quality that is critical for tenants with chronic illnesses. 

A construction finance closing is projected to occur in summer 2011. 

Social Services: CAMBA provides case management and programming on-site, such as nutrition
counseling, yoga, financial management and holiday and social gatherings; 24-hour building security is also provided.
Property Management:  Winn Residential

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