Habit homeowners must: earn between 45% to 80% of the city's area median income--$34,560 to $61.450 for a family of four; will work at least 300 hours per adult—to a maximum of 600 hours—to help build their homes; and will pay no more than 33% of their income on housing.

As previously mentioned, the project is expected to generate about $34.5 million in economic activity over the next 40 years. It is also expected to: generate approximately $3 for every dollar invested in the project, more than a 300 percent return on project investment by Habitat-NYC and its supporters; support 111 jobs and create $20.45 million in economic activity during the two-year construction phase alone; and funnel $2 million of that $20.45 million directly to businesses in Ocean Hill-Brownsville, strengthening the economy of one of the city's lowest- income neighborhoods.

Over the next four decades, the project and its new 41 Habitat-NYC homeowners are expected to spend $13.9 million in New York City; and contribute more than $4.4 million in tax revenues to the city. "Construction of affordable housing doesn't just provide low-cost homes for the families moving in to new apartments, it also brings jobs and business to neighborhoods and a boost to our city's economy," says Shaun Donovan, commissioner of the New York City Department of Housing Preservation and Development, in a prepared statement.

Habitat-NYC's Atlantic Avenue complex is considered the largest multifamily project ever built by a Habitat affiliate. It will meet stringent LEED green-building standards, providing healthy, sustainable and energy-efficient homes. The project will: have energy star appliances and lighting fixtures; high-efficiency boilers; energy-efficient, low-emissivity windows; non-toxic and sustainable construction materials; will be landscaped with drought-resistant plants and permeable paving; and homeowners will be able to save an estimated 30% or more on their utility bills.

Eric Rothman, president of HR&A, says in a prepared statement that "what made this economic and fiscal impact analysis so compelling was valuing the combined contributions of Habitat-NYC and the thousands of volunteers who are building the Atlantic Avenue project. HR&A combined sophisticated economic models with dozens of on-the-ground interviews with construction staff and volunteers to accurately capture the full impact of Habitat-NYC's innovative work."

Priscilla Almodovar, president and CEO of the NYS Affordable Housing Corp. says that "investing state resources in affordable housing not only provides much- needed homes for working families, but also provides an important economic stimulus for emerging neighborhoods. That's why the Affordable Housing Corp. invested in Habitat's condo development in Ocean Hill-Brownsville and why we continue to invest in homeownership throughout New York City."

Habitat-NYC has completed over 170 homes for families throughout the five boroughs of Manhattan, with current construction ongoing and future construction projects planned throughout the City. Another current project the agency is working on is a development on Halsey and Marcus Garvey Boulevard in Bedford-Stuyvesant, which is currently under construction and will create affordable homes for nine families. That project is also being built in compliance with Energy Star standards.

New York State has recently upped affordable housing awareness. As GlobeSt.com previously reported, Gov. David Paterson and Division of Housing & Community Renewal Commissioner Deborah VanAmerongen revealed a new plan to promote the continued development of affordable housing communities throughout the State through a statewide Public Service Announcement campaign. The PSAs were part of a larger campaign--Affordable Housing Works--which promotes high quality affordable housing developments across New York State.

The Governor has also been pro-active this year in his approach to improving and expanding housing opportunities across New York State. Recently, as GlobeSt.com reported, the New York State Division of Housing and Community Renewal revealed that it was dividing $137 million over four projects to create or revitalize 6,415 units for affordable housing. In June, the boards of the New York State Housing Finance Agency and the New York State Affordable Housing Corp. approved nearly $719 million in financing to create and preserve 1,802 units of affordable housing in New York City. In May, Gov. Paterson revealed that the State was providing $25.5 million in grants and financing to build and renovate 396 units of affordable housing in New York State. The grants were allocated to neighborhoods in New York City and Western New York.