ForImmediateRelease: Contact:Thursday,October15th,2015 JulietMorris(HPD),morrisj@hpd.nyc.gov ChristinaSanchez(HDC),csanchez@nychdc.com

BarbaraMorgan(HarlemRBI),bmorgan@skdknick.comAnnaMcGrath(HarlemRBI),amcgrath@skdknick.comStephanieRamirez(JonathanRoseCompanies,Enterprise)sramirez@groupgordon.com

NewYorkYankeeMarkTeixeira,JazzMusiciansWyntonMarsalisandCarlosHenriquezJoinCongressmanCharlieRangel,HPD,HDC,JonathanRoseCompaniesandHarlemRBIandDREAMCharterSchoolEducators,

Parents,StudentsandPartnerstoNew$84MillionDevelopment

Themixed-usedevelopmentinEastHarlemprovidesanewhomeforDREAMCharterSchool,headquartersforHarlemRBIand88unitsofaffordablehousing

(NewYork,NewYork–October15, 2015) – LeadingNewYorkentertainers, athletes and cityofficials joinedHarlem RBI andDREAM Charter School, Jonathan Rose Companies andCivicBuilders, hundreds of school kids and partners in East Harlem today to celebrate the grandopeningofTheEastHarlemCenterforLivingandLearning,locatedat1991SecondAvenueintheEastHarlem/ElBarrioneighborhoodofManhattan.ThisuniquedevelopmentistheproductofawiderangeofpartnershipsincludingNewYorkCityHousing Authority (NYCHA), New York City Department of Housing Preservation andDevelopment (HPD), New York City Housing Development Corporation (HDC), EnterpriseCommunity Partners, Inc. (Enterprise) and Chase. The new 143,000- square-footmulti-family,mixed-usedevelopmentconsistsof88affordablehousingunits,a54,000-square-foothomeforDREAMCharterSchool,and6,000-square-feetofnon-profitofficespaceforHarlemRBI.“HarlemRBI has a long-standing tradition of enriching the lives of children, young adults andfamiliesresidinginEastHarlemandSouthBronx,”saidU.S.SenatorCharlesE.Schumer.“IamthrilledthatHarlemRBI’snewhomewillnowalsobehometoabrandnewschoolforover500underserved students, affordable housing for struggling families, and a greenspace for thecommunity. This ribbon-cutting ceremony signifies the importance of public-private

partnershipsinNewYorkCitycommunitiesandIamconfidentthisnewspacewillcreatemoreopportunitiesforfuturegenerations.”“CongratulationstoExecutiveDirectorRichardBerlinonachievinganewmilestoneandforhiscontinued guidance to lead Harlem RBI in creating programs that challenge and engage ourinner-cityyouth,”saidCongressmanCharlieRangel.“It'sthroughtheseopportunitieswhereweseeastrengtheningofourcommunity,providingourchildrenasafeenvironmenttotransitionand grow into successful adults. I look forward towitnessing the positive impact of the newfacilityinourbelovedneighborhood.”“Every affordable apartment we bring online is one more family that has security. Andapartmentbyapartment,buildingbybuilding,weareconfrontingthisaffordabilitycrisis,”saidMayorBilldeBlasio.“What’ssoexcitingaboutthisprojectisthatitnotonlyliftsuplow-incomefamilieswithaffordablehousing,butinvestsinourstudentsaswell.ThiswillbeaphenomenaladditiontoHarlem.”“Today is a big day. It's an amazing feeling to see thebuilding come to completion andevenmoreexcitingtothinkaboutallthechildrenandcommunitymembersthatwillhaveaccesstothis beautiful facility,” said New York Yankee Mark Teixeira. “When I became a New YorkYankee, I also committedmyself toHarlemRBI andDREAMat the same time.Now six yearslater,I'mthankfultoexperiencethisincrediblemilestonewiththeorganization.”“TheHarlemRBIDREAMCharterSchoolwillbeagreatboonforEastHarlemandprovidemuchneededservicestotheneighborhood,”saidCouncilSpeakerMelissaMark-Viverito.“I'mproudto join the great Yankees sluggerMark Teixeira to unveil this new schoolwhichwill not onlyprovide education services to our youth, but also affordable housing to the community as awhole.”“Schools serve as anchors in their communities and provide safe and supportive learningenvironmentsforchildren,butalsoserveascriticalhubsforfamiliesandcommunitymembers.This building is combining a school with affordable housing and will undoubtedly create anexciting hub of learning. This is an exciting day for the Bronx and thewhole City—and I lookforward to visiting this school community and celebrating itsmany successes to come,” saidCarmenFariña,NewYorkCitySchoolsChancellor.“This is a moment over two decades in the making. This new building provide a qualityeducational experience for over 500 K-8 students and fits into the Harlem RBI philosophy ofplay, learn,grow,”saidRichardBerlin,ExecutiveDirector,HarlemRBI.“Italsorepresentsthededicationofhundredsofeducators,communityleaders,HarlemRBIfamilies,NewYorkpolicymakers, and some of our finest athletes and most generous donors. Without the sharedcontributionsofthese individualsandorganizations,wewouldnotbeheretodayandwelookforwardtoworkingwithpast,currentandfuturegenerationsinthiscommunitytofightpovertyandchangelivesforthebetterforgenerationstocome.”“TheEastHarlemCenter forLivingandLearning isamodelofpublic,private,andcommunitycooperationthatprovidesthreecriticalaspectstoenhanceopportunity for itsneighborhood,”saidJonathanF.P.Rose,founderofJonathanRoseCompanies.“Theseincludegreenaffordablehousing,whichprovidesfamilieswithasafe,stablebase;anextraordinaryschooltopreparethe

community’s children for the opportunities and challenges of the 21st Century; and arehabilitatedparkthatprovidesfamiliesaccesstonatureandrecreation.”“Civic Builders is proud to be a partner in the opening of the first public school built in EastHarlem since 1968. Developed with the extraordinary partnership of Harlem RBI, DREAMCharterSchool,NewYorkCitySchoolConstructionAuthorityandJonathanRoseCompanies,TheEast Harlem Center for Living and Learning represents exceptional cross-sector collaborationwith the commongoals of improving education, revitalizing a community, and changing lives.We look forward towatchingHarlemRBIandDREAMCharterSchool’spositive impact inEastHarlemforgenerationstocome,”saidDavidUmansky,CEOandco-founderofCivicBuilders.“More and more often we find that the production of new dynamic affordable housingdevelopments is only possible through deep partnerships and the commitment of localorganizations. TheEastHarlemCenter for Living and Learning is awonderful exampleof this.Here,wehaveworkedsidebysidewithourpartnersincitygovernmentatHDCandNYCHA,aswell as Harlem RBI, Jonathan Rose Companies, and the DREAM Charter School to takeadvantage of underused land to provide critical affordable housing in a multifaceteddevelopment thatwill enrich theEastHarlemcommunity for generations to come,” saidHPDCommissioner Vicki Been. “I want to thank everyone who helped make this developmentpossible, and look forward to continuing our work together to build a more diverse andequitableNewYorkCity,oneneighborhoodatatime.”“Today marks an incredible milestone. This mixed-used development brings online much-needed affordable housing, a brand new school, and new space for Harlem RBI, a localorganizationthatempowerstheyouthofthiscommunitytorecognizetheirfullpotential,”saidGary Rodney, President of HDC. “HDC is proud to finance dynamic, high-quality affordablehousingdevelopments that strengthenourneighborhoodsand fosteramoresustainableCity.We thank our elected officials, Harlem RBI, Jonathan Rose, and all our public, private, andcommunitypartnersforthevisionandhardworkthatmadethisprojectpossible.”“NYCHAisproudtobeinvolvedinthispartnershipthathasbroughtvitalinvestmenttotheEastHarlemCommunity,”saidSholaOlatoye,NYCHA’sChairandCEO.“Asuccessstory20yearsinthemaking,thisprojectisanexampleofwhat’spossiblewhenpartnerscometogethertocreatemoreaffordablehousingandeducationalopportunities.Throughcollaboration,wecancreatesafe,cleanandmoreconnectedcommunitiesatNYCHAdevelopmentsacrosstheCity.”“At Enterprise, we believe that housing is the foundation for opportunity; combining it withgoodschools,jobs,andtransitisarecipeforsuccess,”saidTerriLudwig,PresidentandCEOofEnterprise Community Partners, Inc. “Unfortunately, too many New Yorkers are housinginsecure—or paying 50% or more of their income on housing—making access to thesenecessities a challenge and leaving many at risk of losing their homes. But thanks to theincredible public-private partnership of The East Harlem Center for Living and Learning andsustainedinvestmentinEastHarlem,theresidentsoftheYomoToroApartments,450studentsatDREAMCharterSchool,andcountlessEastHarlemresidentsnowhavethetoolstheyneedtoliveamoresecurelife.”“AtChase,webelievewehaveafundamentalresponsibilitytohelpthecommunitieswherewelive andwork, andhelping todevelop affordablehousinghere in inNewYorkCity is a prime

example of those efforts," said David Walsh, Northeast Division Manager of CommunityDevelopment Banking for Chase. “We’re proud to support the development of this project,whichwillmakeaprofoundimpactontheHarlemcommunity.”

ABOUTTHEPROJECT

EastHarlemCenterforLivingandLearningisamultifamily,mixed-usebuildingatWashingtonHousesthatincludes:

• AK-8publiccharterschool• OfficeandprogramspaceforHarlemRBI• 88affordablehousingunitsforlow-incomehouseholds• AnewlyrenovatedBlakeHobbspublicpark

The building participates in NYSERDA’s Multifamily Performance Program and was builtaccordingtoEnterpriseGreenCommunitiescriteria,thenationalstandardforgreenbuildinginaffordablehousing. It isexpectedtoreceivetheGoldLeadership inEnergyandEnvironmentalDesign(LEED)ratingforitsgreenbuildingdesignandconstruction.Sustainableelementsofthedevelopmentincludeenergyefficientboilers,lowVOCpaint,low“e”windows,anduseoflow-emitting, recycled, and locally-produced materials. The site is easily accessible to publictransportation, with the M15 2nd Avenue bus and Lexington Avenue subway immediatelyaccessible.Theschool featuresa fullchef’skitchen,anew“gymnatorium”made largely fromrepurposedwood, and an outdoors spacewith a garden. The 11-story affordable housing complex totals80,000-square-feet and consists of 18 studios, 41 one-bedroomunits, 25 two-bedroomunits,andfourthree-bedroomunits.Itincludesanexerciseroom,bikestorageroom,computerroom,socialserviceoffice,laundryfacilities,andalandscapedterrace.Unitshavebeendesignatedforlow-incomehouseholdsearninglessthan60percentoftheareamedianincome(AMI),whichisaffordable to individuals earning no more than $36,120 and $46,440 for a family of three.Income levels are calculated annually by the U.S. Department of Housing and UrbanDevelopment(HUD).TheaboveincomesaresetaccordingtoHUD’s2014calculations.The total development cost for the facility is approximately $84million,with $46.5million infundingfortheschoolandprogramofficespace,and$26.7millioninfundingfortheYoroTomoApartments.Thecompleteprojectwasfinancedthroughprivateandpublicfunding.Theschool,officespace,andparkwerefinancedthrougha$32.5milliongrantfromtheSchoolConstructionAuthority’s Charter Facilities Matching Grant Program and $20 million raised by Harlem RBI.Mark Teixeira pledged $1 million in 2011 toward the Capital Campaign and launchedDreamTeam 25, his personal campaign to help raise the additional $20 million needed tocompletetheproject.Theaffordablehousingportionwasfinancedthrougha$13.5millionfirstmortgageanda$5.7millionsecondmortgagefromHDC,a$6.2million loanfromHPD,$750,000 inResoAfundingfromCityCouncilSpeakerMelissaMark-Viverito,anda$142,654NYSERDAgrant.Additionally,Enterprise provided $10.5 million in Low Income Housing Tax Credit equity, sourced by JPMorgan Capital Corporation. Enterprise also provided a $2.1 million predevelopment loan.Chase provided a $13.6 million standby letter of credit to support the construction of this

project.TheaffordablehousingunitshavebeenrentedthroughNYCHousingConnect,anOpenLotterySystem to ensure fair and equitable distribution of housing to income-eligible applicants.Marketingof theapartmentsandtheapplicationprocess for the lottery typicallybeginswhenconstruction is approximately 70 percent complete. For more information regarding theaffordablehousinglotteryprocessor ifyouwouldliketoreceiveane-mailwhenHPDupdatesits available apartment and home website listings for City-subsidized housing in the fiveboroughs, please visit the ‘Find Housing’ page under the ‘Renter’ tab at www.nyc.gov/hpd.Current housing lotteries are also available at www.nyc.gov/housingconnect. Applicants maysubmit either a paper application or an electronic application. Duplicate applications will bedisqualified.

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ABOUTNEWYORKCITYDEPARTMENTOFHOUSINGPRESERVATIONANDDEVELOPMENT(HPD):TheNewYorkCityDepartmentofHousingPreservationandDevelopment(HPD)isthenation’slargest municipal housing preservation and development agency. Its mission is to promotequality housing and diverse, thriving neighborhoods for New Yorkers through loan anddevelopment programs for new affordable housing, preservation of the affordability of theexistinghousingstock,enforcementofhousingqualitystandards,andeducationalprogramsfortenantsandbuildingowners.HPDistaskedwithfulfillingMayordeBlasio’sHousingNewYork:AFive-BoroughTen-YearPlantocreateandpreserve200,000affordableunitsforNewYorkersatthe very lowest incomes to those in the middle class. For more information visitwww.nyc.gov/hpd and for regular updates on HPD news and services, connect with us viawww.facebook.com/nychpdandwww.twitter.com/nychousing.ABOUTTHENEWYORKCITYHOUSINGDEVELOPMENTCORPORATION(HDC):HDC is the nation’s largestmunicipal Housing Finance Agency and is chargedwith helping tofinancethecreationorpreservationofaffordablehousingunderMayorBilldeBlasio’sHousingNewYorkplan.Since2003,HDChasfinancedmorethan120,000housingunitsusingover$13.7billioninbonds,andprovidedinexcessof$1.6billioninsubsidyfromcorporatereserves.HDChas been the #1 issuer in the nation of mortgage revenue bonds for affordable multi-familyhousingineachofthelastthreeyears.InAffordableHousingFinanceMagazine’smostrecentlypublishedannuallistingofthenation’stoptenfundersofmulti-familyhousing,HDCistheonlymunicipalentityonthe list. HDCisalsothethird largestaffordablehousing lender intheU.S.afterCitiandWellsFargo,rankingaheadofsuchindustryleadersasBankofAmericaandCapitalOne.Foradditionalinformation,visit:www.nychdc.com.

ABOUTHARLEMRBIANDDREAMCHARTERSCHOOL:Harlem RBI, a 501(c)3 non profit organization, began in 1991 when a group of volunteerstransformed an abandoned, garbage-strewn lot into two baseball diamonds for the youth ofEastHarlem.Sincethen,HarlemRBIhasgrowntoservemorethan1,700boysandgirls,ages5-22,with year-round academic, sports andenrichmentprograms.HarlemRBI’s comprehensiveapproach to youth development replaces the barriers inner-city youth typically face withconcrete opportunities to build the skills and confidence needed to graduate high school,matriculate to college andbreak the cycle of poverty. Since 2005, 96%ofHarlemRBI seniors

have graduated high school, 94% of seniors have been accepted into college and 99% ofparticipantshaveavoidedteenparenthood.In2008,after17yearsofworkinginEastHarlemandproducingexceptionalresults,HarlemRBIopened DREAM Charter School. DREAM’smission is to prepare students for high-performinghighschools, collegesandbeyond througha rigorousacademicprogramthatdevelopscriticalthinkerswhodemonstratea loveof learning,strongcharacter,andacommitmenttowellnessand active citizenship. DREAM inspires every student to recognize their potential and realizetheirdreams.Todaytheschoolservesnearly500studentsingradesPre-Kthrough8.ABOUTJONATHANROSECOMPANIES,INC.:JonathanRoseCompanies is anational realestate firmmanagingover$1.5billionofprojectsandinvestmentsacrossthreeintegratedbusinesslines:investmentmanagement,developmentandprojectmanagement.Thefirmdevelopsgreenaffordableandmixed-usehousing,servesasowner’srepresentativetonon-profitsdevelopingeducational,healthandculturalfacilities,andacquires,preservesandgreensexistingaffordableandmixed-usehousing.FoundedbyJonathanF.P. Rose in 1989, the firm has a distinguished track record of transforming communitiesthroughpractical,hands-onrealestatestrategiesandinnovativegreensolutions.ABOUTCIVICBUILDERS:CivicBuildersisanon-profitcharterschoolfacilitydeveloperandlenderthatpartnerswiththenation’sbesteducatorstomakehigh-achievingschoolspossible.Dedicatedtorelievingtherealestateburden forcharter schooloperators,CivicBuilders tailorseach facility to fit theuniqueneedsoftheirpartnerschools.Foundedin2002andbasedinNewYorkCity,CivicBuildershas21 schools completed or in development thatwill soon serve nearly 11,000 students in high-needcommunitiesintheNortheast.Moreinformationcanbefoundatwww.civicbuilders.org.ABOUTENTERPRISE:Enterpriseworkswith partners nationwide to build opportunity.We create and advocate foraffordable homes in thriving communities linked to jobs, good schools, health care andtransportation.Welendfunds,financedevelopmentandmanageandbuildaffordablehousing,while shaping new strategies, solutions and policy. Over more than 30 years, Enterprise hascreatednearly 340,000homes, invested$18.6billion and touchedmillionsof lives. Join us atwww.EnterpriseCommunity.comorwww.EnterpriseCommunity.org.