Lettire Construction Corp. Announces Completion of

The Ciena and Hobbs Court

***

General Contractor Expands Green Affordable Housing in East Harlem

New York, NY – December 7, 2011 – East Harlem-based Lettire Construction Corporation, one of the largest, premier builders and developers of affordable and supportive housing in the region, recently finished construction on The Ciena and Hobbs Court, two affordable rental complexes in East Harlem. In 2011 alone, Lettire completed nearly 700 new sustainable affordable housing units in the New York City region.

The Ciena and Hobbs Court were the first developments in the country to receive approximately $25 million in Tax Credit Assistant Program (TCAP) funds, and added 339-units of low- and middle-income multifamily housing to the East Harlem community. A stimulus-funded project supported by New York City Mayor Michael Bloomberg and former New York Governor David A. Paterson, Lettire Construction, along with Phipps Houses, Urban Builders Collaborative and MHG Architects, were selected by the New York City Housing Authority (NYCHA) and the New York City Department of Housing Preservation and Developmentto build the two properties.

The Ciena, located at 314 East 100th Street, is a rehabilitation of five, existing vacant walk-up buildings and includes a landscaped common outdoor space and new elevators. Hobbs Court consists of two new, nine-story buildings located at 315 East 102nd Street, and includes such amenities as an open community facility and below ground parking.

This multifaceted rehabilitation was one of the most complex projects Lettire Construction has ever undertaken. The five walk-up properties needed to be converted into one elevator building with a centrally-located core, while maintaining the building facade. Despite its construction challenges, the team’s vision of creating affordable, state-of-the-art sustainable housing for local East Harlem residents was successfully reached.

“We were honored to be the builder of choice for the first initiative under the TCAP program,” said Nick Lettire, president and chief executive officer of Lettire Construction. “We are proud to beautify the neighborhood we’ve called home for over 30 years, and to offer new, high-quality residences to the East Harlem community.”

“Phipps Houses has done many affordable housing developments using Lettire Construction as general contractor. Nick and Gerard Lettire have built a sizeable, sophisticated construction organization without forfeiting the personal touch and hands-on concern of a smaller general contractor,” added Adam Weinstein, president and chief executive officer of Phipps Houses.  “They have been responsive to the needs of affordable housing providers to keep costs low and delivery on time, without sacrificing quality.  Lettire Construction will continue to be a provider of choice for many of our projects.”

The entire development team also put a strong emphasis on local community involvement throughout the building process for The Ciena and Hobbs Court. Lettire Construction worked closely with local Community Board 11 and utilized locally based businesses and members of the East Harlem work force. At the project’s completion, former NYCHA residents that lived in the rehabilitated buildings were given first priority to return.

“The Ciena and Hobbs Court are exactly the kinds of affordable housing projects that we want to see more of in my district,” said District 8 Council Member Melissa Mark-Viverito. “The rehabilitation and construction of hundreds of low- and middle-income housing units, the emphasis on green and sustainable technology and the efforts to engage in local hiring have made this project a win-win for El Barrio/East Harlem.  I thank the Mayor, NYCHA and HPD for helping to make this project a reality in East Harlem and the Lettire Construction Company and Phipps Houses for being responsive to my office and our community throughout the development process.”

In addition to providing superior housing, The Ciena and Hobbs Court are part of the Enterprise Green Communities program, utilizing sustainable building practices to maximize the energy efficiency of the building, resulting in a substantial savings for its future residents.

The assignments for Lettire Construction, and its development arm, Urban Builders Collaborative, consist of many of the city’s and state’s newest, eco-friendly, top-quality residential, retail and community-focused properties. Among the most notable is Via Verde, a high-profile mixed-use complex in the Bronx that won New York City’s first juried design competition for affordable and sustainable housing.

As a developer and construction company, Lettire taps into a broad range of services and capabilities for each new project. Lettire’s work on these developments and in this arena has become the benchmark for other developers and builders focusing on building, sustainable, affordable multifamily properties, both on time and on budget. The firm attributes its success to its proactive, hands–on approach to its work, its commitment to excellence, long-standing relationships with leaders in the industry including nonprofit developers, financial institutions, government agencies, design and engineering professionals, and a reliable pool of subcontractors and vendors.

 ###

About Lettire Construction Corporation:

Lettire Construction Corporation, headed by brothers Nicholas and Gerard Lettire, is one of the largest, premier builders and developers of affordable and supportive housing in the region. Headquartered in East Harlem since 1980, the company’s founders are actively participating in the economic rebuilding of the City, and creating local jobs in these communities. By working closely with government agencies, development partners and neighborhood leaders and coalitions, Lettire has been able to further its mission, and dramatically increase the supply of affordable and supportive housing in the New York area.