Madison Townhomes, New York, NY
Reviving Neighborhoods
Over the years, L+M has been on the cutting edge of affordable housing. Because of our outstanding reputation for creative approaches to affordable mixed use developments and emerging market rate luxury housing, community leaders and government housing agencies consistently turn to L+M as the preferred choice for development partner and builder. Our ability to take an “outside the box” view of development has lead to our pioneering many governmental programs.
Beginning in the 1980s, as the first developer to integrate federal low income housing tax credits with New York City’s Vacant Building Program, we continued through the years to work with government and financial institutions to help create new programs that take advantage of underutilized private activity bonds and the as-of right subsidies that accompany them. L+M facilitated the planning and construction of the first new mixed income rental building that utilized financing from taxable bonds and public subsidies. Building on that success, L+M created the model for mixed income homeownership, developing condos in Harlem and the Bronx. Most recently, L+M was the first developer to implement an on site inclusionary market rate condo in Brooklyn.
L+M has a strong commitment to its investments in emerging marketplaces. Our work is based on the belief that affordable housing goes hand in hand with social responsibility. Our vision for vibrant neighborhoods has transformed the urban landscape all over New York City.