Habitat for Humanity Investing in 3 Bed-Stuy Buildings | Brownstoner

Habitat for Humanity is in the process of purchasing three adjoining buildings in Bedford Stuyvesant with funding from HUD?s Federal Neighborhood Stabilization Program and will turn the units in them into home ownership opportunities for low-income families. The prior owner of the buildings at 782-786 Madison Street had recently renovated two of them, and Habitat will renovate the third by summer. The properties, which are near the border of Bushwick, will cost Habitat $6 million. The buildings will have a total of 18 units, with 12 three-bedrooms and 6 two-bedrooms. They will go to families earning between 50 and 80 percent of the area median income, and to folks signed up for the organization?s sweat equity mission. GMAP

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