The Arker Companies today announced that The Fountains, a 100% affordable housing development in East New York, has been fully leased-up just over a year since its opening.
“We are incredibly proud to have helped thousands of Brooklynites secure safe, affordable homes at The Fountains,” said Alex Arker, principal at the Arker Companies. “We’re grateful to the local leaders and partners, including Gov. Hochul and Mayor Adams, for supporting East New York families with the high quality housing they deserve. Our team will continue to work alongside Progressive Management, The Block Institute and the amazing residents to ensure that this community can continue to thrive.”
Gov. Kathy Hochul, Mayor Eric Adams and local elected officials joined The Arker Companies and community partners in October 2021 to cut the ribbon at the 1,163-unit transformative complex. The $425 million, 7-acre development on the site of the former Brooklyn Developmental Center has helped revitalize the neighborhood with housing and supportive services for thousands of Brooklyn residents and a new public plaza.
State financing for The Fountains included over $216 million in resources from New York State Homes and Community Renewal. The NYC Department of Housing Preservation and Development contributed more than $35 million to the project.
Of the 1,163 new homes at the Fountains, 1,078 units are set aside for New Yorkers making up to 60 percent of the Area Median Income (AMI); 85 units are set aside for households earning up to 100% of AMI. Two hundred units are also reserved for senior adults 62 or older.
Additionally, 192 apartments are reserved for adults with intellectual or developmental disabilities who have access to on-site supportive services provided by the Block Institute.
The complex includes a 1-acre public plaza called Schroeder’s Walk and features over 95,000 square feet of new ground-floor commercial space and off-street parking. The Fountains is adjacent to public transportation, Shirley Chisholm State Park, bike trails and community resources such as grocery stores, parks, schools and other retail establishments.
All six buildings were constructed to meet Enterprise Green Community standards and include energy-efficient features such as ENERGY STAR-labeled appliances, heating and cooling systems, and lighting.
