New York City-based nonprofit organization The Doe Fund has broken ground for the in the Wakefield section of The Bronx on the site of the former Joseph A. Muller Army Reserve Center.
The four-story building will include 54 studio units targeted to formerly homeless veterans — a population in critical need of supportive services.
The remaining 35 affordable units will be rented to low-income individuals, with a preference for local residents, with one unit set aside for a live-in superintendent.
Construction on the building, which was redesigned by MHG Architects, is expected to be complete by 2021.
“We are deeply proud to transform the former Joseph A. Muller Center into 90 modern, beautiful, high-quality homes for people who desperately need stability after experiencing hardship and homelessness, especially for the 54 veterans who have bravely served our country and who will soon call 555 Nereid Avenue home,” said George T. McDonald, Founder and President of The Doe Fund.
On-site building amenities will include social services administered by The Doe Fund, a live-in superintendent, custodial staff, 24-hour security, a community laundry room, a bike room, and a private side yard for residents and their guests.
The building will also include a unique amenity: a 123-seat lecture hall theater that will be available to the community for educational programs, cultural activities, and local community board events.
Development funding sources include NYC Department of Housing Preservation and Development (HPD), Sterling National Bank, and Raymond James Tax Credit Funds, Inc. The development also received a social services operating grant awarded through New York City’s 15/15 Rental Assistance Program.
Last month, The Doe Fund announced plans to develop 255 units of affordable, supportive housing at 1331 Jerome Avenue, in the Mount Eden neighborhood in The Bronx.
Both developments will join The Doe Fund’s substantial portfolio of supportive, affordable, and transitional housing serving populations in need across New York City.
The Doe Fund is on track to double its portfolio of affordable and supportive housing by 2020.
“Raymond James closes over $1 billion of tax credits every year, and we see a lot of deals. But The Doe Fund projects are very different. Their mission to help homeless and formerly incarcerated individuals get back onto their feet is like no other. And the work they do day-in and day-out to bring that vision to life comes from deep within their hearts,” said Michelle Kraics, Director of Institutional Investment, Raymond James stated at the groundbreaking.
“Myself and the entire Raymond James team is honored to work with The Doe Fund on this special project.”