Rachel Loeb highlights affordable housing and retail commitments
Loeb says the project responds to the housing crisis with about 100 affordable units at MIH option 1, and Benenson is committed to bringing back neighborhood-serving retail with improved spaces.
And I think at this point, Rachel, it's your turn.
So as we started to conceive this project and think about what the benefits would be to the community, one is creating housing, right?
We know we're in a housing crisis, but not only that, delivering approximately 100 affordable units.
And we are proposing that we would do them at MIH1.
So really meeting the needs of the community, and that's something we heard from the community board and from the councilwoman.
As I mentioned, we developed this 70 years ago.
We've curated it.
We understand our retailers.
We've really always brought what we felt are the retailers that meet the moment in the community, and we are committed to that as well.
So we're in communication with all of our tenants.
Many of them have leases that have already expired, but we really want to make sure that we bring back that neighborhood-serving retail.
It not only will benefit our neighbors, but benefit the future residents of our building.
But they'll be improved, higher ceilings, energy efficient, things like that.