An affiliate of real estate giant The Moinian Group, based in New York City, has raised $175 million by issuing bonds maturing December 2024 at 3.05%. That's the lowest coupon ever paid by a U.S. based firm on the Tel Aviv Stock Exchange.

May 11, 2017 Comments Off on New Standard for Housing Redevelopment Views: 282 Downtown New York, New York News

New Standard for Housing Redevelopment

New York City has a whole new yardstick to measure the apartment developments it puts its money into.

Developers who receive City and State financing to rehabilitate their buildings will have to put their plans through the new Integrated Physical Needs Assessment, to evaluate the physical, energy and health opportunities of redevelopment.

“This new assessment tool will ensure that health and energy efficiency are at the forefront, as we work to evaluate building needs and opportunities,” said Maria Torres-Springer, commissioner of the New York City Department of Housing Preservation and Development (HPD).

The new tool builds on HPD’s Green Physical Needs Assessment, released in 2015 with the City’s Housing Development Corp. The IPNA will also be used by the New York State Homes and Community Renewal.

Read More at HPD

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