Real Estate Weekly
Image default
Construction & Design

Work starts on $67M Bronx housing plan

Construction is underway on a $67 million supportive and affordable housing project in the Bronx.

The building being constructed, part of a larger mixed-use development known as La Central, will create 160 units of housing, including 97 supportive units for formerly homeless New Yorkers with special needs.

“This new development will provide quality homes and will support vulnerable Bronx residents in need allowing them to live independently and with dignity,” said Governor Andrew Cuomo.

“By giving these individuals a roof over their head and a safe place to call home, we help create a stronger New York and a more vibrant Bronx for years to come.”

The La Central development will feature multiple buildings with mixed-income affordable housing, retail, community and recreation spaces, helping to revitalize the Melrose neighborhood in the South Bronx.

Breaking Ground will develop the supportive housing component of La Central, while Comunilife will provide support services.

The new building was designed by FXFOWLE Architects and MHG Architects. The general contractor is Monadnock Construction, Inc.

The building will feature ultra-efficient fixtures and water-saving appliances, a green roof, and roof-mounted solar panels that will provide energy savings and reduce reliance on the area’s electrical grid. In addition, the building will include a 4,500 s/f accessory community facility space.

“The La Central development epitomizes the art of creative, sustainable and equitable city-building. Our design of Breaking Ground’s supportive housing building is a key part of La Central and embodies a powerful combination of civic ethos, sustainable strategies and thoughtful programing,” stated Senior Partner Dan Kaplan, FAIA, LEED AP.

“The building will create an identity that is both forward-looking and rooted into the larger neighborhood. Most importantly, it creates a sense of place that speaks to the project’s mission of providing homes and fostering a thriving, healthy community.”

The total development cost for the project is $67 million. The project is financed with several resources from HCR, as well as State and local partners.

New York State’s Housing Finance Agency is providing $31 million in tax-exempt bond financing towards the construction of the project. At project completion, permanent financing will consist of nearly $27 million of Low Income Housing Tax Credit generated from HFA’s tax credit allocation; $11.5 million from HCR’s Supportive Housing Opportunity Program; $5.9 million from OTDA’s Homeless Housing Assistance Program; $12 million from the Supportive Housing Loan Program via the City of New York’s Department of Housing, Preservation and Development; and $230,000 from the NYC Office of Environmental Remediation.
The project is also part of the newly launched Empire State Supportive Housing Initiative. Additional capital funding came from Wells Fargo and the Corporation for Supportive Housing.

As part of the second phase of the Governor’s $20 billion five-year plan for the creation or preservation of 100,000 affordable and 6,000 supportive housing units, three State agencies have made available more than $650 million in capital funding and $30 million in service and operating funding for supportive housing.

HCR, OTDA and the Office of Mental Health have each released Requests for Proposals to distribute these funds.

Related posts

AI and cloud adoption propel data center demand to record levels for 2023


DeSimone continues global expansion with latest UK acquisition


Rare green warehouse set to open in The Bronx