Cypress Hills Local Development Corporation, Inc.

Cypress Hills Local Development Corporation, Inc. (CHLDC), will use HFFI funds for a commercial development project to increase access to healthy, affordable food to the Pitkin Avenue Corridor in Brooklyn, New York. This project is a part of the Sustainable Communities: East New York planning initiative led by the City of New York and funded through a U.S. Department of Housing and Urban Development Sustainable Communities Regional Planning Grant. CHLDC will develop 7,290 square feet of ground floor retail space that will be occupied by a local grocery, and is part of a mixed-use project that will develop 60 affordable housing units for a total of 77,290 square feet of new construction. CHLDC will use HFFI funds to provide a low-interest loan to Cypress Pitkin Berriman L.P., a CHLDC partnership entity established to develop, manage and operate the proposed residential and commercial building. The loan will allow for the development of the retail space to accommodate a grocery store, which will create 15 new full-time permanent jobs, at least 75% of which will be filled by individuals with low-income. The proposed project will also include an education component, with educational programs designed to encourage healthy food choices.

Source of money: HFFI CED Program