President of Lantern Organization, Inc. fka The Lantern Group, Inc., Real Estate
About Timothy Galloway
As the founder and president of Lantern Organization, T. Eric Galloway has been a leader in developing affordable housing projects in the New York area for fifteen years. Created in 1997, Lantern Organization and its subsidiaries have provided housing and social services to individuals and families in need of assistance, including young adults who have aged out of foster care and people living with mental health challenges or HIV/AIDS.
T. Eric Galloway brings a formidable professional background to his work with Lantern. He graduated from Holy Cross College, Brown University, and Harvard Law School. Following his education, Galloway served as a judicial clerk for the Chief Justice of the Third Circuit of the United States Court of Appeals. He learned the field of finance as a lawyer at Davis Polk & Wardwell, where he was a specialist in corporate finance and banking.
Galloway’s legal and financial training would serve him well as he began his work in affordable housing at the Settlement Housing Fund. There, he served as counsel and specialized in developing housing that requires on-site supportive services. When he created Lantern, Galloway was well prepared to realize his ambitious vision for affordable housing in New York.
Under Galloway’s direction, Lantern Organization has become a recognized leader in not-for-profit affordable housing development. It has secured funding from federal, state, and local governments, philanthropic organizations, and major corporations. Lantern now holds $160 million in assets and manages over 1,400 rental units in nine completed developments, with additional projects already underway. The organization has been recognized for its work by the New York State Association for Affordable Housing and the Affordable Housing Tax Credit Coalition.
Beyond his work at Lantern Organization, T. Eric Galloway promotes historic building renovation in Hudson, New York.
Jasper Hall, One of The Lantern Organization's Achievements
By T. Eric Galloway
Based in New York City, The Lantern Organization develops housing for low-income individuals. By partnering with groups such as the New York State Energy Research and Development Authority, the New York State Division of Housing and Community Renewal, and Bank of America, it has obtained over $160 million in capital funding to construct buildings.
Since its inception, The Lantern Organization has developed 19 complexes, of which nine have been completed and others are in different stages of planning or construction. Jasper Hall represents one of its most recently finished facilities. Found in the Melrose Commons area of the Bronx, Jasper Hall provides more than 50 units of permanent housing to young adults who have aged out of the foster care system. While living there, residents can obtain counseling, employment assistance, and group emotional support through the city's Department of Health and Mental Hygiene.
About the Author:
As President of The Lantern Organization, T. Eric Galloway contributes to its numerous initiatives. In the role for 15 years, Galloway has overseen every project, and he has involved himself in the creation of more than 1,200 housing units.
A Look at Some of the Lantern Organization's Buildings
Based out of New York City and operating under the guidance of President T. Eric Galloway, the Lantern Organization has spent the past 15 years creating residential properties for low-income individuals in the city. With a presence in most boroughs of New York City, the Lantern Organization has developed housing facilities containing hundreds of units throughout the Bronx, Manhattan, and Brooklyn.
The 12-year-old Amber Hall in the Morrisania neighborhood of the Bronx consists of 85 apartments, a community room, and a backyard. The complex also offers emotional support through vocational services, social workers, counselors, and social activities.
Built in 2001, Manhattan's Schafer Hall in East Harlem divides its 91 units based on types of residents. Nearly a third of the apartments are meant for families led by adults living with special needs. The others were created for single adults with special needs. Additionally, individuals who recently aged out of foster care can find housing at this building. Like Amber Hall, Schafer Hall features a myriad of social services that enable residents to enhance their quality of life.
Exclusively for single adults with special needs, Cover Hall in Bedford-Stuyvesant, Brooklyn, contains many of the features of the other two properties. Its location also provides inhabitants with easy access to schools, hospitals, and stores.
T. Eric Galloway on New Site for Affordable Housing in New York City
T. Eric Galloway is the President of Lantern Organization, a New York City non-profit. Through Lantern Organization, Galloway has developed over 1,200 affordable housing units for the City of New York.
According to Crain’s New York Business, a new website will help New Yorkers enter the lottery for affordable housing. NYC Housing Connect, a joint project from the Department of Housing Preservation and Development and the Housing Development Corporation, will allow New York residents to use an online form to determine their eligibility for subsidized affordable housing and to apply for openings. In the past, prospective tenants had to fill out a separate form for each building with openings.
Each year, 4,000 subsidized apartments come open in New York City, but there are 40 applicants for each available home. Program administrators expect that the online system will increase the number of entrants into the lottery since the application process will be so much easier. At first, the system will only be available for openings in two new buildings: a 117-unit building in Queens and a 47-unit building in East Harlem. However, the number of buildings accepting online applications should increase by fall. The system will also allow users to check the status of existing applications and to search for new openings in the city’s affordable housing system.
The Galvan Foundation Sponsors the Galvan Community Center
A prominent real estate executive with many years of experience, T. Eric Galloway currently serves as the president of the Lantern Organization, Inc. To improve quality of life for residents of Hudson, New York, T. Eric Galloway co-founded the nonprofit Galvan Foundation. The organization sponsors a broad range of real estate development projects, including the Galvan Community Center.
Located at the northwest corner of 5th and State Streets, the Galvan Community Center occupies the famous Hudson Armory Building. The former drill hall will serve as the home of the new Hudson Library, while the 8,000-square-foot officer’s club will be converted to a community wing. The new community wing will play host to a large community event space and senior center, where community members can participate in a broad range of health services, social, and educational programs.
To learn more about the Galvan Community Center and other projects in the Hudson community, visit galvanfoundation.org.
Hudson’s Robert Jenkins House Receives Grant for Restoration
Harvard Law graduate T. (Timothy) Eric Galloway spent several years as the head of the Lantern Organization, a low-income housing developer in New York, before he co-founded the Galvan Foundation. With the Galvan Foundation, Timothy Galloway and his team help fund various community initiatives in Hudson, New York, including the rehabilitation of historical buildings.
In 2014, the Galvan Foundation awarded $25,000 to the Daughters of the American Revolution (DAR) Hendrick Hudson chapter to restore the Robert Jenkins House, erected in 1811 by Jenkins, Hudson’s third and fifth mayor. The historical house is in urgent need of restoration; its basement windows sit below the street line, which causes leakage and sometimes flooding.
The Galvan Foundation’s mission is to assist the people of Hudson by supporting cultural, educational, and historical organizations as well as social services for the city’s most vulnerable citizens. The grant for the DAR was the largest of 19 Galvan Foundation grants awarded in 2014.