A $15-million apartment building in New York City is on track to open next year, with construction starting next month.
The building, the city’s first $15 million apartment building, is currently under construction at the corner of Seventh Avenue and Eighth Street in Brooklyn, which was designated a $15m development in July 2015.
The building will feature 3,800 apartments and 1,800 units of housing for people earning under $150,000 a year.
It was originally designed to be used by New York’s homeless population, but due to financial constraints has turned into an apartment complex, according to developer Shira Gold.
Gold said the building’s first phase, which opened in 2019, is scheduled to begin construction by the end of the year.
The company is planning to open the next phase in 2019 and 2019 will be the year it will begin construction, she said.
Gold added that the building will include 3,200 spaces for the city and is slated to open in 2022.
Gold, who is the managing director of the company, has been involved in the development of the Manhattan building since 2014.