What’s the Link Between Luxury and Affordable?

The New York Observer has an interview with Kelly Kennedy Mack, president of the Corcoran Sunshine Marketing Group, a New York-based firm that plans, designs, markets, and sales luxury rentals.

Mack says the company’s current hot project is bringing luxury touches to affordable housing. She previews her firm's involvement in an initiative championed by Mayor Michael Bloomberg, micro apartments.

In the interview, Mack says that the explosion in luxury housing and the tight rental market have sparked the concurrent need for affordable housing.

The micro-units fill that gap, she says.

She explains that Corcoran Sunshine was hired by Monadnock Development to work on the city’s first micro-unit apartment building, My Micro NY, with nArchitects.

The city’s press release announcing Monadnock Development LLC, Actors Fund Housing Development Corporation, and nARCHITECTS as the winner of the “adAPT NYC Competition,” with its modular-design micro-unit building design, for 335 E. 27th St.  can be found here.

"It was a tremendous opportunity to translate our expertise in residential planning, typically at the highest end of the market, into a micro living concept,” says Mack in the interview.

Forty percent of the 55 micro-unit building “will be affordable beyond the competitive market rents,” the city states.

Mack says that the small units--265-360 square feet, she says—will be in a building that will include a fitness center, a "residents’ lounge with landscaped terrace," and a library-alternative work space.

She says her firm is strategizing for the marketing and leasing with its sister company, Citi Habitats New Developments.

None of the firms involved have listed the project on their sites yet, but the city said in its press release last January that modular construction would begin at the Brooklyn Navy Yards and the units are expected to be ready for occupancy by September 2015.

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