Fort Greene
Portfolio Preservation

In 2024, ELH and Tredway partnered to acquire to preserve high-quality, high-opportunity housing in the popular Brooklyn’s neighborhood of Fort Greene. Concurrent with the acquisition, the affordability of all 193 homes in the portfolio was extended another 40 years, ensuring they remain available to serve low-income households earning no more than 50 percent of area median income. An additional 30 percent of the homes will be reserved for formerly homeless individuals and families.

ELH and Tredway are investing upwards of $10 million to renovate the portfolio, which has been largely untouched since it was first built. The cornerstone of the preservation is a 97-unit, elderly-designated, mid-rise building located at 80 Greene Avenue. Constructed in 1982, Greene Clermont Houses is home to longtime residents of Fort Greene who will benefit from critical aging-in-place retrofits aimed at enhancing residents’ quality-of-life. Throughout the portfolio, the developers will focus on improving the properties’ energy-efficiency and Local Law 11 safety improvements. Apartments will receive new bathrooms, kitchens, lighting and flooring, while lobbies and commons areas will be refreshed for the first time in over 40 years.