Case study: What it took to get an affordable apartment project built in East Harlem

(CRAINS) EDDIE SMALL, July 25, 2021

L+M Development initially started work on the Carolina, its affordable housing project in East Harlem, in November 2013, when the company formed a joint venture partnership with Tahl Propp Equities. The first tenants didn’t move in until August 2020, almost seven years later.

“We first really sat down with the city and our partner in February 2014 to start discussing what this project could be,” said Spencer Orkus, managing director of affordable housing at L+M. “It was over two years later that we started our land-use review process. That’s a pretty extraordinary amount of time.”