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14 E. 28 th Street , New York , NY 10016

The Prince George provides permanent, affordable housing for 416 low-income and formerly homeless adults. Once one of New York City 's premier hotels, it was rehabilitated by Common Ground and reopened in 1999 after many years of decline. Built in 1904, the Prince George is now listed on the National Register of Historic Places.

The Prince George combines permanent affordable housing with a variety of social services provided by Common Ground's partner, the Center for Urban Community Services, that help tenants put their lives back on track and manage their housing, careers and health-related needs. Services are available Monday through Saturday to all tenants. Property management service, including 24-hour security, are provided by Common Ground's affiliated not for profit property management company, Common Ground Management.

In addition, Tenant Services staff offer programs and activities to foster the community life of the building. Over the past year, highlights included financial self-sufficiency workshops; nutritional and acupuncture services; monthly visits from a traveling dental van; classes covering topics such as yoga and painting, and sponsorship of a Community Supported Agriculture partnership that provides tenants and neighborhood residents with weekly deliveries of fresh organic produce at affordable prices.

In 2005, Common Ground completed the restoration of the 5,000 square-foot Prince George Ballroom and adjacent former Hunt Room. Working with four other non-profit groups, including Alpha Workshops, Parsons School of Design, Brooklyn High School of Preservation Arts and Youthbuild, the Neo-Renaissance ballroom, was completed as a design-build project by Beyer Blinder Belle Architects. A volunteer committee working with Common Ground raised the $1.5 million restoration budget from private individuals, foundations and government agencies focused on job training and preservation. World Monuments Fund has located its permanent exhibition space at the entry foyer/gallery designed and built by architecture students of the Parsons School of Design. The Prince George Ballroom is now an event space available for rental with proceeds supporting the expansion of Common Ground's housing development work.

Another historic space within the building, the Ladies Tea Room, has also been fully restored. It is equipped with a commercial kitchen, and is used for tenant events and is available for rent to the public.

The Prince George is equipped with a state-of-the-art security system and features a gracious lobby, a computer laboratory, an art studio and 24-hour laundry facilities. The building also has two spacious garden spaces including a rooftop garden which hosts 11 community garden plots through a collaboration with the New York Horticultural Society and the Green Team Project. Rooms are fully furnished, have private baths, ceiling fans and kitchenettes.

Total Square Footage: 200,717

Project Financing:

• Development: Rehabilitation
• Total Budget: $39.8 million ($8.5 million acquisition; $31.3 million development)
• Development Sources and Amounts:
  • NYC Department of Housing and Preservation and Development's SRO Loan Program, including HOPWA and HOME funding—$11 million
  • NYS Office of Mental Health—$6.6 million
  • NYS Homeless Housing Assistance Program—$4 million
  • Low income housing and Historic rehabilitation tax credits—$17.2 million
  • Federal Home Loan Bank—$1 million
  • Foundation Grants

Operation Budget and Revenue:

The annual operating budget of the Prince George is $3.4 million, with rent, (Including a Section 8 contract, some Section 8 vouchers, and other government rental subsidies) covering the building's basic operating expenses. All residents sign a lease. To be eligible for residency, tenants must earn less than 80% of the area's median income, with monthly rents set at approximately 30% of a tenant's annual income. A limited number of apartments are available to individuals earning up to 100% of median income.

Photo Tour Current Demographics History of The Prince George Highlights of the Past Year