Image capture March 2021 © Google

Trinity Church, which certainly was one of the largest land owners in the city at one time if not now, will develop a parcel it owns at 50-58 Cliff, just north of Fulton, into a 120-unit affordable housing “community.”

The project will be adjacent to St. Margaret’s House, a 249-unit affordable senior housing residence founded by Trinity in 1981 — 44 years ago. The apartments will be permanently affordable for low-income households, including units set aside for formerly homeless individuals and families.

Designed by Dattner architects and developed in partnership with Settlement Housing Fund, the building will also have outdoor common spaces, a food-focused learning space and flexible spaces for events, workshops and community programming. Trinity will maintain ownership of the land though a 99-year lease to Settlement Housing Fund. The project is expected to cost $70 million.

“Affordable housing opportunities in Lower Manhattan are rare, and we are proud to bring new, deeply affordable homes to this thriving neighborhood,” said Judy Herbstman, president of Settlement Housing Fund. “We are grateful to partner with Trinity Church on our shared goal to break the cycle of housing insecurity.”