New Construction and Gut Renovation – Moderate-Income Affordable Housing

Based on Janus’s record of community commitment and successful delivery of numerous unique projects, the New York City Department of Housing Preservation and Development selected Janus to redevelop one vacant building and three adjacent vacant lots under a rental program administered by the New York City Housing Development Corporation. Prior to this project, Janus had recently completed a challenging, multi-phase gut rehabilitation of 13 occupied buildings covering several blocks surrounding this project into 166 units of affordable housing for low- to middle-income families.

Janus’s plan for 132 West 112th Street was to combine the long-abandoned building with new construction on the adjacent lot into a single-entry, 41-unit Quality Housing project including outdoor space and a 6,500-square-foot community childcare facility.

Janus financed the project through a combination of taxable bonds and subordinate City debt. In addition to planning and developing this project as principal, Janus acted as co-general contractor and leasing agent and continues to own and manage the property.