Monadnock Development’s Post

It’s officially a wrap on our 46th annual fundraiser, Sunset Swing! We had a great time with over 300 guests celebrating the bold, creative, and innovative businesses along the Southwest Brooklyn waterfront. Our community’s support helps us grow our impact every year and lets us keep doing what we do best: offering hands-on help to small businesses, workforce development programs for our communities, and advocacy for our working waterfront.    Congratulations to our three outstanding honorees:  - Acaso., a proud Brooklyn-based, family-owned and operated garment manufacturer developing sustainable, custom clothing collections (and a 2023 graduate of our flagship business training and leadership program, Plan for Growth;  - Monadnock Development, a developer that has built and rehabilitated more than 9,000 housing units across affordability levels and most recently worked with SBIDC on a new mixed-use development in Gowanus including light industrial space; and  - Sustainable South Brooklyn Marine Terminal (SSBMT), a partnership between Industry City and RED HOOK CONTAINER TERMINAL, LLC to revitalize the site for a modern maritime use.   We’re so grateful to our board of directors, our sponsors, all the amazing Brooklyn-based makers and artisans who contributed to our raffle, and everyone who joined us on Tuesday to celebrate 46 years of creating equal opportunity for the businesses and workforce of Southwest Brooklyn. Thank you for believing in our mission. We can’t wait to see what we can achieve together next year! Fernando Leon, Frank Dubinsky, Michael Stamatis

Gotham Organization and Monadnock Development – together with their nonprofit partner the Christian Cultural Center – have secured $270 million in construction financing to build a 386-unit mixed-use multifamily property on a 10.5 acre site planned for nearly 2,000 affordable housing units. #CommercialRealEstate

At the end of 2023, Project Renewal and Monadnock Development closed on construction financing to redevelop the New Providence Women's Shelter into a new 21-story tower that will include housing, a purpose-built shelter, and a street-facing medical clinic. The project is on 45th Street in Midtown Manhattan and is scheduled to be completed in 2026. The existing shelter had been operating for ~30 years in a building that did not meet program needs and was significantly under-built. Over the last five years the development team worked closely with our NYC agency partners to clear the path for this new building that will create 130 units of supportive and affordable housing, 171 purpose-built shelter beds, a public medical clinic, and social service and community space to help the building's tenants thrive. Huge thanks to the many professionals who helped us get to the closing, including Hirschen Singer & Epstein LLP, Monadnock Construction, Inc., Red Stone Equity Partners, LLC, Citi, NYC Department of Housing Preservation & Development, New York City Housing Development Corporation, NYC Department of Social Services, Leviticus Fund, Deutsche Bank, Dattner Architects, WSP, GEA Group, MRCE, Bright Power, Inc., WEINTRAUB DIAZ LANDSCAPE ARCHITECTURE, PLLC, and many more!