Stevenson Commons

Located in Soundview and spanning nine buildings, the preservation of Stevenson Commons is a prime example of how public-private partnerships can protect Mitchell-Lama housing-one of the most at-risk types of low-income housing in New York City. Belveron and its partners secured a new long-term Project-Based Section 8 contract to lock in affordability for current and future residents while committing to remaining in the Mitchell-Lama housing program for an additional 40 years.

Belveron’s investment also helped to rehabilitate the properties, with more than $36 million committed for capital improvements including elevator modernization, the overhaul of mechanical systems, energy efficiency retrofits, and a complete redesign and restoration of the property’s central courtyard.