Work has gotten underway on a $61 million low carbon mixed-use development in the Fordham Heights neighborhood of the Bronx.
The 13-story building at 2050 Grand Concourse will include 96 affordable apartments with supportive services for formerly homeless individuals and a new headquarters for nonprofit, Unique People Services, Inc.
Lieutenant Governor Kathy Hochul joined representatives from New York State Homes and Community Renewal (HCR), the New York State Office of Temporary and Disability Assistance (OTDA), the New York State Office of Mental Health (OMH) and the New York State Energy Research and Development Authority (NYSERDA) for the groundbreaking.
Unique People Services, Inc. is developing the project and will provide on-site supportive services to residents.
UPS will locate both its headquarters and programing in the building’s 10,600 s/f community facility space.
The project is a winner in New York State’s inaugural Buildings of Excellence competition for the design, construction and operation of a low carbon emitting multifamily building.
Administered by NYSERDA, the competition supports New York State’s climate and energy goals under Governor Cuomo’s Green New Deal, which puts the state on a path to economy-wide carbon neutrality and mandates an 85 percent reduction in greenhouse gas emissions by 2050.
The building is also expected to meet the standards of the NYSERDA’s Multifamily New Construction Program.
Energy efficiency measures will include high-performance exterior insulation; solar panels; Energy Star windows, lighting and appliances; high-efficiency HVAC systems; low-flow plumbing fixtures; sustainable building products; construction waste management systems; low-VOC paints, solvents and adhesives; and recycled building materials.
The development will also feature a large community room with kitchen, a laundry facility, storage rooms, and two landscaped rooftop terraces.
HCR’s financing for 2050 Grand Concourse includes $7.4 million in permanent tax-exempt bonds, federal Low-Income Housing Tax Credits that will generate $21.3 million in equity, $17.7 million from the Supportive Housing Opportunity Program (SHOP) and $3.5 million from the federal Housing Trust Fund (HTF).
The development also received $5.5 million from the state’s Homeless Housing and Assistance Program (HHAP), which is administered by OTDA. NYSERDA will provide $77,600 through the Multifamily New Construction Program and awarded $750,000 from the Buildings of Excellence competition.
Rental subsidies and funding for supportive services will be provided by OMH through Governor Cuomo’s Empire State Supportive Housing Initiative (ESSHI) and the HIV/AIDS Services Administration (HASA) administered by the New York City Human Resources Administration (HRA). The Local Initiatives Support Corporation (LISC) provided an additional $1.9 million.