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Inclusionary Housing Proceeds Finance NYC Development

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Azimuth Development Group delivers 21 units in Manhattan.

A 21-unit affordable housing development financed entirely with inclusionary housing proceeds recently celebrated its opening in the Lenox Hill section of Manhattan.

The building on East 60th Street was developed with inclusionary housing proceeds that totaled nearly $25.3 million, according to city officials. The development, which is home to families earning no more than 80% of the area median income, is the beneficiary of three nearby market-rate compensated developments.