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Providence House Closes Construction Financing For Bedford-Stuyvesant Supportive Housing Project

Paul, Weiss pro bono client Providence House closed on construction financing for the rehabilitation of 178 Halsey Street and 243 Hancock Street in Bedford-Stuyvesant, Brooklyn. The rehabilitated buildings will be supportive housing to help New Yorkers who are homeless and recently released from prison transition back into society. The project, which is expected to be completed by early 2019, is being financed by a combination of low-income housing tax credit equity and construction loans from Enterprise Community Loan Fund and the City of New York. Providence House recently honored Paul, Weiss with its "Corporate Good Neighbor" award at its annual fundraiser.

The Paul, Weiss team on the project and its financing includes real estate associate Matthew Dulak and partner Salvatore Gogliormella.

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