Nicholas Avenue Estates
Affordable HomeownershipNot-for-Profit SponsorshipSubsidy Assistance
Nicholas Avenue Estates will be constructed on 10 acres of vacant land located on the northeast corner of Nicholas Avenue and Richmond Terrace on the North Shore of Staten Island. Developed by Community Development Inc., the project will comprise 78 two-family homes in Port Richmond. The Housing Partnership secured a subsidy from the NYS Affordable Housing Corporation that provides individual buyers with "principal reduction" grants depending on household income, available to purchasers earning between 75% and 100% of Area Median Income.