Equitable Community Development
For four decades, AAFE has been building quality housing and creating stronger communities.
AAFE has earned a nationwide reputation in the past four decades for innovating solutions to the affordable housing crisis. The organization’s initial project, undertaken after a devastating fire in Manhattan’s Chinatown, became the first development in New York City created using the Federal Low-Income Housing Tax Credit. AAFE’s use of the program became a national model followed by other not-for-profit developers. Over the years, we have created 800 units of affordable housing in Manhattan, Queens and Brooklyn.
Early in its history, AAFE recognized that the preservation of existing rental units was crucial to saving affordable housing in New York City. Through the Lower Manhattan Affordable Housing Preservation Program, AAFE has acquired and rehabilitated dilapidated buildings, helping to stem the tide of gentrification and to stabilize communities by adding apartments to the neighborhood’s affordable housing stock.
Today AAFE has embarked on bold new projects, advancing a holistic approach to community development. In Flushing, the organization is partnering with Monadnock Development and HANAC, a Queens-based not-for-profit, to build One Flushing. It will provide 231 affordable apartments (including senior housing), spaces for small retailers, a large community center and a range of senior support services. Also in Flushing, our Center for Community and Entrepreneurship will feature a ground floor retail marketplace, a sweeping public plaza, Flushing’s first incubator/co-working facility, a flexible community space for community events and AAFE’s expanded community services center. In the Rockaways, AAFE has teamed up with a local group, Ocean Bay Community Development Corp., to establish a desperately needed grocery store and other retail services.
In short, AAFE’s community development mission has become multi-faceted, encompassing, housing, economic development, and social services.
(Image: Future home of AAFE’s Center for Community & Entrepreneurship)
Our Current ProjectsLearn More About AAFE's community development initiatives.
Rockaways Retail Center
In partnership with Ocean Bay CDC, we are bringing a grocery store and other critically-needed local services to the Far Rockaways.