Linden Grove in Brooklyn shows how dedicated senior housing can provide stability for low-income and formerly homeless residents in a city where most renters are cost-burdened and affordable options remain limited.
Before moving to Linden Grove Senior Residences nearly a year ago, Tico Flores Kyle was living with deep uncertainty. A native New Yorker, he had built a life teaching martial arts and fitness, as a private investigator and pursuing acting and modeling. But after losing stable housing, he often did not know where he would sleep next.
After months of couch surfing, he entered the shelter system. Then Tico's luck changed: through a New York City Housing Authority (NYCHA) lottery, he was chosen for an apartment at Linden Grove, a senior housing development focused on affordability. Eligible residents had to live in a household where the head, spouse or sole member was at least 62 at the time of application.
Stories like Tico’s before he moved into Linden Grove are increasingly common in New York City, where more than half of renters are considered cost-burdened and spend over 30% of their income on housing, according to New York City Planning. At the same time, the city’s rental vacancy rate has fallen to just 1.41% — the lowest level since the 1960s—making it harder for residents to find stable, affordable homes.
Located in Brooklyn’s Bushwick neighborhood, Linden Grove serves low-income and formerly homeless seniors in a 13-story building with 153 studio and one-bedroom apartments. Amenities include indoor and outdoor fitness areas, community spaces and raised-bed gardens.
Developments like Linden Grove are part of a broader effort to address long-standing housing shortages in New York City, where housing production has not kept pace with demand for decades.
The project was developed by Blue Sea Development Company and Gilbane Development Co. with JASA providing both social services and property management. JASA offers on-site case management, wellness programming and access to essential resources that help residents thrive.
Bringing affordable housing developments like Linden Grove to life in New York City often involves complex financing structures, long development timelines, and coordination across multiple public and private partners.
TD provided a letter of credit for the tax-exempt housing bonds issued by the New York City Housing Development Corporation and also made a $48.2 million equity investment in the project.
“Supporting people with the greatest need is central to who we are as a bank and is the kind of impact we want to have," said Matthew Schatz, Market Leader, Commercial Real Estate, TD Bank U.S.
Linden Grove was built using modular construction; meaning sections are built off-site and assembled on location. Modular construction is a method that can speed up time to completion, reduce waste during the process and offers a very high level of quality. Linden Grove was also designed to be highly energy efficient and environmentally friendly, meeting a multitude of leading green building standards, such as Passive House, U.S. Green Building Council (LEED Platinum), and National Green Building Standard (Emerald). Approaches like modular construction and energy-efficient design can also help reduce long-term operating costs, which is an important factor in keeping housing affordable over time in high-cost markets like New York City.
Today, Tico's life feels steadier. He appreciates the modern design, security and amenities at Linden Grove. The gym is one of his favorite rooms along with the community room where residents recently held their first Memorial Day barbecue, an event Tico helped organize. He believes building community matters, especially in a diverse residence where several cultures meet under one roof.
“Linden Grove is my home; stable housing changes lives,” Tico said. “It offers people safety, dignity, and the chance to rebuild community and purpose.”
How did TD help make Linden Grove possible?
The seeds for Linden Grove were planted more than a decade ago, and the request for proposals was issued by New York City in 2017. The deal was complex, in part because modular construction is still uncommon in New York City, Matthew said. TD had expertise because it has worked with other developers on modular projects, including Gansett Meadows in East Hampton, New York and Carrino Plaza in Newark, New Jersey.
TD’s role in the project was to support the financing structure and work alongside development partners to help move the project forward. “We have the experience with modular construction to understand the specific requirements,” Matthew said. “That allows TD to meet our clients’ needs and structure a deal that works for both the client and the bank.”
Linden Grove was built on a New York City Housing Authority-owned parking lot. The developers chose modular construction in part because it can reduce time to completion: the units are largely completed off-site and assembled at the property. In traditional construction, most of the work happens on-site, which can take longer and create more disruption for the surrounding neighborhood. The project also stands out for pairing high-rise modular construction with ambitious energy-efficiency goals.
Even after a modular manufacturer was found, the project came with added complexity. Because modular construction follows a different timeline than traditional building methods, lenders need to feel comfortable with how the work would progress and how the deal would be structured. That is where TD’s prior experience with modular projects proved invaluable.
"This kind of in-depth understanding mattered," said Les Bluestone, co-founder of Blue Sea. "We wanted to work with a lender who could focus on what was essential, navigate the complexities and help move the deal forward. We also wanted to work with a bank who has extensive experience with affordable housing, and TD certainly does.”
Now, seeing residents using the shared spaces, socializing and making the building their own has made the extended effort worthwhile.
“It’s about the people, not the building,” Les said. “When you see residents enjoying this space, that’s what makes it meaningful.”
FAQ: Helpful answers about Linden Grove
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