Bronx, New York – New York City Department of Housing Preservation and Development (HPD) Commissioner Mathew M. Wambua and New York City Housing Development Corporation (HDC) Executive Vice President for Real Estate & Chief of Staff Joan Tally joined project developer Adam Weinstein, President of Phipps Houses, and Ronay Menschel, Chairman of Phipps Houses to celebrate the lifelong achievements of military hero and education leader Dr. Roscoe C. Brown, Jr. by naming the newest Phipps Houses building in his honor, the Roscoe C. Brown, Jr. Apartments. Located at 3952 Third Avenue in the Bronx, the 11-story building offers 278 new units of affordable housing to the residents of the Bathgate section of the Bronx. Former Mayor David Dinkins, U.S. Congressman José E. Serrano and Deputy Bronx Borough President, Aurelia Green were also in attendance.
The Roscoe C. Brown, Jr. Apartments were developed as part of Mayor Michael R. Bloomberg’s New Housing Marketplace Plan (NHMP). The NHMP is a multi-billion dollar initiative to finance 165,000 units of affordable housing for half a million New Yorkers by the close of Fiscal Year 2014. For every dollar invested by the City, the Plan has leveraged $3.41 in private funding for a total commitment of more than $19.4 billion to fund the creation or preservation of over 143,138 units of affordable housing across the five boroughs, with more than 45,469 units financed in the Bronx.
“We are proud to honor Dr. Roscoe C. Brown and to have this new development bear his name. His commitment to New York City and the country as a whole is legendary,” said HPD Commissioner Mathew Wambua. “The creation of 279 new units of affordable housing, literally, built upon the bedrock of this Bronx community is a demonstration of the commitment HDC, Phipps, my staff at HPD and all of our partners have to building up our communities regardless of the obstacles. I am grateful to be able to do this work every day and want to thank everyone who made this development possible.”
“It is an honor to celebrate the opening of this development and recognize Dr. Brown for all of his great contributions and leadership,” said Joan Tally, Executive Vice President for Real Estate and Chief of Staff of HDC. “Along with our partners in the public and private sector, we are glad to be contributing to a legacy of a more sustainable and affordable New York City.”
“Phipps Houses is honored to recognize Dr. Brown for his leadership and commitment to service with the dedication of the Roscoe C. Brown, Jr. Apartments,” said Phipps Houses President and CEO Adam Weinstein. “Bringing additional affordable housing into this community is simply a continuation of the great work Dr. Brown has given to New York and to our country and we could not have done so without the support of HPD, HDC and the leadership of our local elected officials.”
“The new affordable housing we are unveiling today is a fitting tribute to Dr. Brown, who did so much in our community,” said Congressman José E. Serrano. “Dr. Brown sought to bring people together for the betterment of our community, and likewise, this project brought many partners together to create new housing opportunities for Bronx residents. I applaud all those involved and look forward to hearing from the happy residents about their new homes.”
During World War II Dr. Brown joined the Army Air Corps where he served as one of the Tuskegee Airmen, the first African-American military aviators in the United States armed forces. He was awarded the Distinguished Flying Cross and Air Medal with eight Oak Leaf clusters for his service during the war, and in 2006 he and the collective Tuskegee Airmen squad were presented with the Congressional Gold Medal. Following the war, Dr. Brown went on to earn an M.A. and a Ph.D. from New York University, where he remained as a professor for the next twenty-seven years. Dr. Brown was named president of Bronx Community College of the City University of New York (CUNY) in 1977 and continued there until 1993 when he stepped aside to found the Center for Urban Education Policy at the CUNY Graduate Center.
“It is an honor to be recognized in this way by Phipps Houses,” said Dr. Roscoe C. Brown, Jr. “ I have committed by life to promoting opportunity through education, civil engagement and culture. This development, which provides housing a child care to families in the Bronx, is the ultimate realization of my dreams.”
Today, Dr. Brown is recognized for his contributions to integrating the armed services as a Tuskegee Airman, his leadership in education and his continued service to the community. He is an active member of numerous organizations, including serving as a trustee for Phipps Houses and Phipps Community Development Corporation.
“As an educational leader in New York for the past 60, Dr. Brown is an inspiration to educators and students alike,” said Phipps Community Development Corporation Executive Director and CEO Dianne Morales. “We are proud to have Dr. Brown’s name associated with our program as we work to prepare children and families to be life-long learners.”
This new development was constructed within the Bathgate Urban Renewal Area, near Crotona Park in the Morrisania section of the Bronx. Approximately half of the site was occupied by a large rock outcropping. The development team chose highlight the rock by building on top of the rock and using the rock outcropping as a design feature for the building. The decision saved time and money while contributing a unique architectural element to the neighborhood.
Phipps Community Development Corporation’s Early Head Start program is located in the Roscoe C. Brown, Jr. Apartments and serves 68 low-income families in center-based and home-based programs. The free program offers expectant mothers and children up to age 3 early intervention and education programs that ensure healthy, lifelong learners.
The new building consists of 278 units made up of 18 studios, 106 one-bedrooms, 142 two-bedroom, and 12 three-bedroom apartments. Eighty percent of the units are available to tenants earning no more than 60% of the Area Median Income (AMI) or $46,080 for a family of four. The remaining units are set at 40% AMI or $30,720 for a family of four. Income levels are determined by the U.S. Department of Housing and Urban Development (HUD). Apartments were marketed in accordance with the HPD lottery process which was supervised by HDC. For more information regarding the lottery process, current housing lotteries, how to apply to an open lottery, and if you would like to receive an e-mail when HPD has updated its website concerning available apartment and home listings for City-subsidized housing in the five boroughs, please visit the Apartment Seekers and Homebuyers pages at www.nyc.gov.
The total development cost for Roscoe C. Brown, Jr. Apartments is $79 million. NYC HDC provided $40.6 million in tax-exempt bonds for the construction of Roscoe C. Brown Apartments. Financing was also contributed from HPD in amount of $14.68 million in City Capital funding and $2.42 million in federal HOME funds. Funding also included $698,668 from NYSERDA. More than $4 million in Low Income Housing Tax Credits were syndicated by Richman Housing. HSBC provided credit enhancement for bonds during the construction period.
About the NYC Housing Development Corporation (HDC):HDC provides financing that builds and strengthens neighborhoods. Since 2000, the corporation has issued roughly 10% of all the multifamily housing revenue bonds in the U.S. and since 2003, when Mayor Bloomberg’s New Housing Marketplace Plan was launched, HDC has raised more than $6.7 billion in financing for affordable housing developments, including in excess of $1 billion in subsidy from corporate reserves. In Affordable Housing Finance magazine’s annual listing of the nation’s top ten funders of multifamily housing, HDC is the only municipal entity included on the list, and consistently bests many of the largest commercial banks and most statewide Housing Finance Agencies (HFA). This past year, HDC was the fourth largest affordable housing lender in the U.S. after Citi, Wells Fargo and Bank of America, beating out JPMorgan Chase and Capital One. To date, under the Mayor’s plan, HDC has financed the creation or preservation of more than 60,000 affordable units in multifamily buildings that also include 1.7 million square feet of commercial space. For additional information, visit: www.nychdc.com
About the NYC Department of Housing Preservation and Development (HPD):HPD is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and viable neighborhoods for New Yorkers through education, outreach, loan and development programs and enforcement of housing quality standards. It is responsible for implementing Mayor Bloomberg’s New Housing Marketplace Plan to finance the construction or preservation of 165,000 units of affordable housing by 2014. Since the plan’s inception, more than 126,990 affordable homes have been created or preserved. For more information, visit www.nyc.gov/hpd
About Phipps Houses:Phipps Houses is the nation's oldest and one of its largest not-for-profit developer/owners of affordable housing. It is a multi-faceted real estate organization, involved in the construction of new housing, rehabilitation of existing apartment buildings, residential and some commercial property management, and community building, all in New York City and its environs. Its wholly owned 501(c)(3) subsidiary, Phipps Community Development Corporation (Phipps CDC), provides human services to our communities. Phipps Houses Services, Inc. (PHSI) provides property management services, and is a for-profit wholly owned subsidiary of Phipps Houses. The Phipps Houses mission is to create and sustain enduring communities through housing development, attentive property management, and residentially and community based human services.
Contact: Christina Sanchez, HDC (212) 227-2644