Camber Property Group (CPG) and Westhab have topped out 913 East Tremont Avenue, a 100 percent affordable rental development in the West Farms section of The Bronx.
The building includes 119 housing units, with 60 percent of the apartments reserved for formerly homeless residents requiring supportive services and the balance for low income individuals and families. The development also includes 6,500 square feet of commercial space.
“This development is transforming an underutilized lot in the West Farms neighborhood into best-in-class affordable housing, and we are thrilled to reach this milestone as we prepare to welcome more than 100 families to their new homes,” said Rick Gropper, Principal at Camber Property Group.
“Our city has a critical need for affordable housing, including supportive units for the formerly homeless, and we will continue our work to fill that need across the five boroughs.”
Construction of the $50 million project was funded through tax-exempt bond financing, Low Income Housing Tax Credit equity provided by Wells Fargo and public subsidies from the New York State Housing Finance Agency and New York State Homes and Community Renewal (HCR). The building was designed by Aufgang Architects and is being constructed by SD Builders.
“Westhab is thrilled about the topping off of 913 East Tremont, and very grateful for our partnership with Camber,” said Andrew Germansky, Senior Vice President of Real Estate at Westhab. “We look forward to opening the building in 2021, and, thanks to funding from New York’s Empire State Supportive Housing Initiative (ESSHI), to providing residents with high-quality, affordable housing and supportive services.”
“913 East Tremont is another example of Camber Property Group’s long-term commitment to ensuring Bronxites have quality, affordable housing,” said New York City Council Member Rafael Salamanca. “With the official topping out of the building, the reality of 119 units of affordable housing, including a majority of units at the deepest affordability, is something the West Farms community is eagerly anticipating. ”
913 East Tremont Avenue will feature a garden entrance alongside outdoor recreational space, a 1,300-square foot community room, as well as dedicated space for the provision of supportive services by Westhab, a leading community development nonprofit organization that provides a wide range of housing opportunities and social services.