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East Harlem's Lakeview apartments to stay affordable for 40 years

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Staff Writer |
East Harlem apartments
Empire State   The state's program includes long-term protections

New York State Homes and Community Renewal has taken steps to ensure the 446-unit Lakeview Apartments, a Mitchell-Lama development in East Harlem, remains affordable to residents for an additional 40 years.

The state's affordability, preservation and capital improvement program also includes long-term protections for income-eligible tenants and allows Lakeview's owner to make improvements at the complex, including new kitchens and upgraded bathrooms for all apartments, an upgraded security system, and necessary repairs.

As the building has reached its eligibility to exit the Mitchell-Lama program, without the State's intervention, the program could have been left without any rent protections, threatening nearly all of Lakeview's tenants with market rate increases and displacement from their homes.

This was a particularly acute risk at Lakeview, situated on the corner of 5th Avenue and 106th Street in East Harlem, where market rents are among the highest in the state.

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