It should be noted that the Subject, which is proposed to be financed through the competitive nine percent LIHTC program, will be developed concurrently with 700 West 44 - 4%, which will be financed through the four percent LIHTC program. 700 West 44 - 4% is a proposed 72-unit development offering one, two, and three-bedroom units at 60 percent of AMI. The Subject and 700 West 44 – 4% will offer a total of 210 off-street parking spaces (all offered on a first-come, first-served basis), which will equate to a parking ratio of 1.5 space per unit. Further, the developments will offer the same three-story garden-style design.
The Subject is a proposed three-story, garden-style new construction LIHTC development to be constructed with funding under the LIHTC program.