Park Lake Apartments, located in Hempstead, NY, is an affordable 14-building garden-style residence made up of 240 two- and three-bedroom unit homes.  Silver Street Development Corporation teamed up with Metropolitan Realty Group to acquire this property in 2021. The rehabilitation included unit upgrades, colored facades, new roofs, lighting, security, landscaping, and management and laundry facilities. Solar panels were installed on most of the buildings and projected to offset about 69% of the site’s energy usage. The preservation of this asset was supported in part by a HUD/FHA Section 221(d)(4) first mortgage loan provided by Rockport Mortgage Corporation, 4% LIHTC equity allocated by the New York State Division of Housing and Community Renewal and associated tax-exempt bond financing issued by the Town of Hempstead IDA and Nassau County IDA.