Buildings on Creston Avenue in University Heights to get makeover from Workforce Housing Advisors

Several buildings in University Heights will receive makeovers as a result of grants from various city organizations. Four buildings on Creston Avenue will be improved

Several buildings in University Heights will receive makeovers as a result of grants from various city organizations.

Several buildings in University Heights will receive makeovers as a result of grants from various city organizations. (7/18/13)

UNIVERSITY HEIGHTS - Several buildings in University Heights will receive makeovers as a result of grants from various city organizations.

Four buildings on Creston Avenue will be improved after years of tenants living in poor conditions. Workforce Housing Advisors, a for-profit developer of affordable housing, took over the properties in 2012. They say the previous owners racked up hundreds of violations and defaulted on the mortgage.

The project will cost about $28.6 million, with the money coming from low-income housing tax credits, the Department of Housing Preservation, the Housing Development Corporation, and City Council Speaker Christine Quinn. JPMorgan Chase and Morgan Stanley are acting as credit providers. 

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