NEW YORK: The six hundred and twenty-ninth entry for the seniors housing Global Awards for 2015 has been received.
Investors who bought a crumbling affordable housing complex in the Upper Manhattan neighbourhood two years ago have finally unveiled a new look for the formerly troubled tower.
Nelson Management, which acquired the area’s tallest tower, at 150 W. 225th St., in 2013, said it’s already started $14 million in extensive renovations on the property, upgrading lobbies and hallways, installing a new outdoor deck with cabanas overlooking the water, putting in new elevators and gas boilers, creating an outdoor recreation area, opening a gym and hiring a 24-hour doorman.
The 318-unit complex, which was formerly part of the Mitchell Lama program, a program established in 1955 as an incentive to develop affordable rental and cooperative housing to moderate- and middle-income families in New York State, has now been removed from the program…
