Why State, Private Sector Invested in Bronx Affordable Housing
- Jul 24, 2015
New York—Officials of Enterprise Community Investment, UnitedHealthcare, the State of New York and other stakeholders recently came together for a hardhat tour of a new affordable housing development in the Bronx.
Gouverneur Place is a seven-story, 68-unit affordable housing development that will offer a blend of studios, one-, two- and three-bedroom units. The community will integrate high-quality affordable housing with supportive services.
The two largest investors in the $20.7 million development are the State of New York and UnitedHealthcare.
The New York State Office of Mental Health (OMH) and the Dormitory Authority of the State of New York (DASNY) awarded $11.7 in capital funds and bonds for the project. Subsidies provided by OMH will support operating and supportive services expenses after the building opens. The necessary 4 percent tax credits were provided by the New York State Homes and Community Renewal.
“Our mission at UnitedHealthcare is to help people live healthier lives, and this investment helps achieve that goal by connecting housing and health, helping individuals and families with the greatest needs have access to safe, quality, affordable housing and support services,” UnitedHealthcare of New York CEO Michael McGuire told MHN.
“UnitedHealthcare invested $7.8 million through our partnership with Enterprise, providing critical funding needed to bring this new apartment community to the Bronx,” he continued. “It will provide a new home for families in need as well as individuals living with mental disabilities with on-site support services and other amenities to help them succeed.
“Our investment is part of a larger initiative at UnitedHealthcare, where we have provided more than $230 million to build affordable housing throughout the country.
“[That housing is] focused on communities that bring new, affordable homes for low-income individuals and families, the homeless, military veterans, seniors and people with special needs. UnitedHealthcare is so proud to be a partner in this project and make a positive impact here in the Bronx and with the many families and individuals Gouverneur Place will serve in the years to come.”
All housing units will be affordable to families that earn up to 60 percent of Area Median Income (AMI). But 50 units will be set aside for individuals with mental health disabilities, as a result of New York State OMH funding.
Common-area amenities will include a computer lounge, community room, outdoor recreation area, on-site supportive services, laundry room and storage for bikes and other property of residents.
The developer of the property is Westhab, Inc., Westchester County’s largest non-profit provider of affordable housing and supportive services. Westhab will also manage Gouverneur Place once construction is completed in mid 2016.
“Gouverneur Place is an important public-private partnership that will bring new affordable housing for individuals and families in need to the Bronx,” Westhab Inc. president and CEO Richard Nightingale said.