Retired four-star Gen. Colin Powell will return to his South Bronx roots on September 9th to dedicate a new and green affordable multifamily residence. The General Colin L. Powell Apartments were developed by the New York City Habitat for Humanity and Blue Sea Development Co. These co-op residences are the first "co-development" project in the nation by Habitat, according to a Sept 3 announcement.
Powell, a former Secretary of State, will welcome new homeowners as he cuts the ribbon at this building. The Habitat Web site notes that this "LEED Platinum" rated building will be the "greenest affordable multifamily residence in New York."
Habitat homes are built by professional contractors, volunteers and the families in need that will live in and own the homes. Each family must supply "sweat equity," and qualify in order to become a homeowner of a Habitat residence. The donor-supported organization is a powerful advocate for affordable housing.
Comments? Please send them to kmcbride@wealthmanagerweb.com. Kate McBride, AIF(R), is editor in chief of Wealth Manager and a member of The Committee for the Fiduciary Standard.
