Slideshow: $52M Bronx Affordable Housing Development Breaks Ground
- Mar 02, 2017
A group of private and public partners recently broke ground on a $52.3 million affordable and supportive housing development in the Bronx’s Mount Eden neighborhood. The project will bring 126 apartments to 111 E. 172nd St., addressing the area’s need for low-income housing. Partners include New York State Homes and Community Renewal (HCR), the New York State Office of Mental Health, New York City’s Department of Housing Preservation and Development (HPD) and Community Access.
In addition to residential units, the development will offer a commercial kitchen for residents to learn about healthy meal preparation, an onsite playground and exercise equipment, community room with computer lab, free Wi-Fi and onsite support services for 60 Medicaid recipients.
“Providing high-quality homes with onsite supportive services is the one of the best ways to ensure that individuals who need extra support can live independently and thrive in their communities,” said HCR Commissioner RuthAnne Visnauskas at the groundbreaking ceremony. She added that this development represents Governor Cuomo’s $20 billion, five-year Affordable and Homeless Housing Plan, which seeks to expand access to affordable housing in New York State and combat homelessness.
This project also marks the beginning of Community Access’ goal of building at least 1,000 new units of supportive housing. The agency has developed 18 supportive housing programs totaling 1,000 units to date, serving vulnerable populations such as people with mental health issues, homeless individuals, people living with HIV/AIDS and people who have experienced abuse or trauma. Sixty of the development’s units will be set aside for individuals with mental health issues and the remaining are reserved for low-income families earning at or below 60 percent of area median income.
Community Access is seeking LEED Silver certification for the project, with plans to implement sustainable features like a roof solar panel array, a co-generation plant and storm water runoff to be used to irrigate the urban farm.
Funding for the project will come from several sources, including: HCR, which issued tax-exempt bonds, allocated Low-Income Housing Tax Credits through the Housing Finance Agency that will leverage $22 million in equity invested by Citi Community Capital and others, and provided $1.2 million in supportive housing capital funds; New York State Office of Mental Health, which is financing $15 million in capital, $250,000 for furniture, fixtures and equipment, and providing funding for onsite social services; $150,000 in New York State Energy Research and Development Authority Funds; $22 million in permanent financing from New York State resources; $3.3 million in financing from NYC’s HPD Supportive Housing Loan Program; and a $2 million subordinate loan and construction financing from Citi.
Development partners include: Peter L. Woll Architect, Mega Contracting Group, Alembic Community Development, Lawyers Alliance for New York and Hirschen Singer and Epstein (representing Community Access).
Photos courtesy of Peter L. Woll Architect, P.C.