Penn South is the common name for the Mutual Redevelopment Houses, a limited-equity housing cooperative development located between Eighth and Ninth Avenues and West 23rd and 29th Streets, in the Chelsea neighborhood of Manhattan, New York City. The 10-building. 2,820-unit complex - every tower has 22 floors - was built in 1962, and was sponsored by the International Ladies' Garment Workers Union based on the cooperative model promoted by the United Housing Foundation. It was designed by Herman Jessor. The dedication ceremony, in May 1962, was addressed by President John F. Kennedy with former First Lady Eleanor Roosevelt in attendance.
To help keep Penn South affordable to those with limited incomes, New York City gave the development 25 years of tax abatements, from 1961 to 1986. After that, the cooperative's shareholders voted for a 25-year phase-in of real-estate taxes, which was approved by the city's Board of Estimate. A further adjustment was made when the development asked the city in 1999 for tax relief when the building boom in Chelsea caused the project's assessed value to skyrocket. The city responded in 2001 by allowing the development's taxes to be calculated based on the cooperative's income, as is done with Mitchell-Lama housing. In return, the development must remain a limited-equity cooperative until 2022. Under the terms of agreements reached with the City of New York in 2002, and separately with the United States Department of Housing and Urban Development, Penn South's eligibility for tax abatements offered by Mitchell-Lama has been extended to 2052.
In 2012, there were 6,000 names on a waiting list of prospective residents looking to purchase one of the 2,820 units in the development.
Building 7 of the complex was listed on the National Register of Historic Places in 2016. Apartment 9J in the B portion of the building was home to civil and gay rights activist Bayard Rustin from 1962 until his death in 1987.
Video Penn South
See also
- Mitchell-Lama Housing Program
- Southbridge Towers
- Co-op City, Bronx
- Cooperative Village
- Hudson Yards Redevelopment Project
- Essex Crossing
Maps Penn South
References
Notes
External links
- Official website
- Buildings by Herman Jessor at Emporis Buildings
- President Kennedy speaking at dedication of Penn South
Source of the article : Wikipedia
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