Churches, Developers Partner on Affordable Housing in NY
Why this is here: The “Tree of Life” development in Queens will be the largest affordable housing complex in the neighborhood, combining worship space with much-needed residences.
New York churches and developers are collaborating to build affordable housing through the Interfaith Affordable Housing Collaborative. The nonprofit assists faith-based organizations with the technical and logistical challenges of developing housing on their property. It provides guidance, helps secure loans, and protects their interests during pre-development.
The collaborative supports groups in assessing their resources and applying for pre-development loans up to $30,000. They also work to find development partners and negotiate contracts. The group formed in response to instances of churches being exploited by developers.
Construction recently began on the “Tree of Life” project in Queens, New York. This mixed-use development will include commercial and worship spaces. It will also be the neighborhood’s largest affordable housing complex.