Announces first deal with CMC Development Group, The Ridge Avenue Project, a 100-unit building in Peoplestown, Atlanta GA with Grimshaw performing schematic design

SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, fabricator and innovator of container-based structures (“SG Blocks), today announced that it has partnered with CMC Development Group/Creative Container and Spaces/Eco Development LLC (hereinafter referred to as “CMC Development Group” or “CMC”) on a 100 unit building in Atlanta, known as The Ridge Avenue project – a $15.0 million affordable housing project. Ridge Avenue is the first deal of a new partnership between SG Blocks and CMC, which provides exclusive right of first refusal access to CMC’s deals and pipeline, subject to reasonable limits. In exchange for access to CMC’s backlog and pipeline projects and recommendation of SG Blocks to other businesses, SG Blocks will provide CMC 50,000 restricted stock units vesting over 2-years. The Ridge Avenue project is a residential project subject to SG Blocks’ recently announced license agreement with CPF MF 2019-1 LLC (“CPF MF”). As a result, CPF MF will arrange for the design build of the container based modular building for the project and SG Blocks will be entitled to the related fees under the license agreement.

READ MORE: https://www.businesswire.com/news/home/20191010005241/en/

A new veterans housing development at 984 Woodycrest Avenue in The Bronx is now fully completed. Located in the borough’s Highbridge neighborhood, the building is designed by Urban Architectural Initiative.

In total, the six-story structure contains 31,500 square feet spread among 48 studio units, amenities, and a social service office. Residential amenities include a community room, laundry facilities, fitness center, and an outdoor recreational area.

READ MORE: https://newyorkyimby.com/2018/07/work-wraps-on-veterans-home-at-984-woodycrest-avenue-highbridge-the-bronx.html

Organization Name: Urban Architectural Initiatives (UAI)

Project Title: Woodycrest Veterans Housing

Project Location: 984 Woodycrest Avenue, Bronx, New York

Project Description:
Co-developed by HELP USA and the CMC Development Group, Woodycrest Veterans Housing is a 31,500 sf, 6-story residential building with cellar, for formerly homeless veterans. It houses 48 studio units and amenities such as community room, laundry, exercise room and outdoor recreational area. Program offices offering resident support services are provided on the first floor. The design responds to the surrounding milieus, as the building is set back to align with the existing house on the corner and creates a scaled plaza for the main entrance. The building structure is primarily masonry and hollow core pre-cast concrete plank. The exterior façade is finished with glass-fiber reinforced concrete panels and an exterior insulated finish system. The regular façade is speckled with asymmetric windows with bright colored surrounds. Hues of the exterior façade flow into the interior spaces and accentuate featured walls. A translucent channel glass is used as the storefront glazing at the first floor community room to provide quality light and privacy. The highly energy efficiency building envelope meets and exceeds Enterprise Green Communities and NYSERDA standards.

READ MORE: https://thenyhc.org/projects/woodycrest-veterans-housing/

The project will be in full swing by February

An Upper West Side church conversion approved by the Landmarks Preservation Commission two years ago is finally moving forward with construction. Developed by CMC Development Group and Epstein Development Group, and designed by DXA studio, the plan is to renovate the 19th-century Romanesque Revival church at 140-142 West 81st Street—known as the Mount Pleasant Baptist Church—to include both residential and worship space. There will be a new sanctuary and classrooms for community-based education programs, as well as condos designed to subsidize the entire endeavor. Five apartments will range from 3,400 and 4,200 square feet.

READ MORE: https://ny.curbed.com/2016/12/14/13952094/upper-west-side-church-condo-conversion-construction 

Families will need to make under 60 percent of the AMI

A South Bronx church is about to get two new neighbors. Plans have been filed for two affordable buildings, one at 960 Prospect Avenue and one at 961 Reverend James A. Polite Avenue, in the neighborhood of Morrisania, YIMBY reported. The first will be right next to the Thessalonia Baptist Church and have 54 units. The second will have 66 units. They will come in one-, two-, and three-bedroom configurations and be available to families making under 60 percent of the Area Median Income (AMI), or $46,620 for a family of three.

READ MORE: https://ny.curbed.com/2016/4/11/11408992/affordable-housing-thessalonia-manor-morrisania-south-bronx