pr_09-14-2018

HDC AND HPD JOIN PROJECT PARTNERS TO CELEBRATE THE COMPLETION OF A NEW SUPPORTIVE HOUSING DEVELOPMENT IN THE BRONX

The development brings affordable low-income housing to the Bronx with on-site supportive services

Apartments are reserved for chronically-homeless adults with serious mental illness with a preference for veterans

 

Bronx, NY – The New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) joined NYS Senator Luis R. Sepúlveda, Bronx Borough President Ruben Diaz Jr., and The Bridge, a leading non-profit developer, today to celebrate the opening of Melrose Commons Residence, a 59-unit affordable housing development offering supportive services in the Melrose neighborhood of the Bronx.

“Projects like this underscore the importance of collaborative partnership to creating well-designed, deeply affordable, and supportive housing,” said HDC President Eric Enderlin. “I’d like to thank our valued partners, especially The Bridge, Capital One, and National Equity Fund, our elected officials, and multiple teams across the City, State, and Federal government for their dedication to providing a secure new home and more hopeful future for the residents of Melrose Commons.”

“Supportive housing has been proven to be one of the most effective ways to address homelessness. The Melrose Commons Residence creates 59 high quality new homes and services for New Yorkers struggling with chronic homelessness, providing them with the crucial support they need to get back on solid ground,” said HPD Commissioner Maria Torres-Springer. “I applaud our partners at The Bridge, thank our local elected officials for their ongoing support for creating supportive housing for some of the most vulnerable New Yorkers, and wish a warm welcome home to Melrose Commons Residence’s newest residents.”

NY State Senator Luis Sepúlveda noted that, “With so much more that needs to be done to help those who are struggling with homelessness and with mental issues – especially those who served our nation, but now need and deserve our service back - this residence is one of the best answers I can think of. I salute The Bridge for bringing this impressive facility and its services to those in need. I wish we could provide more like it.”

“We are delighted to celebrate the opening of the Melrose Commons Residence,” declared Susan Wiviott, Chief Executive Officer of The Bridge.  “This project provides critically-needed units of supportive housing for 58 formerly homeless adults.  We have deeply appreciated the support we have received from our many partners in government and the private sector who helped make this beautiful new residence a reality.” 

The 100 percent affordable building consists of 58 studio apartments available to chronically-homeless adults with serious mental illness, with a preference for veterans, at or below 60% of the area median income. In addition, there is one superintendent’s unit. HUD Project-Based Section 8 Vouchers were awarded by NYCHA, and supportive on-site services are being paid for through a contract with NYC DOHMH.

Melrose Commons Residence includes a green roof, outdoor recreational space, 850 square feet of common space with a communal kitchen, a conference room/training center, and a laundry room. The development also includes 950 square feet of office space for the supportive services. The project received support from the Department of Health & Mental Hygiene (DOHMH) to fund the program services including case management staff; substance abuse and vocational counseling; and referral services to off-site medical, dental, mental health, recreation and social services.

Sustainably designed and built to achieve New York State Energy Research and Development Authority (NYSERDA), and Enterprise Green Communities benchmarks, Melrose Commons Residence features energy-efficient windows, and HVAC thermal systems, reflecting the development’s strong commitment to sustainable design.  Magnusson Architecture & Planning designed the building, which was constructed by The J. Pilla Group Ltd.

The project was financed through $25.26 million in public and private investment. HDC provided more than $12.9 million in tax-exempt bonds and an additional $2.75 million in corporate reserves. HPD provided approximately $2.459 million in City subsidy. In addition, the project benefits from Low-Income Housing Tax Credits (LIHTC) that generated more than $10.87 million in tax credit equity. The Homeless Housing Assistance Corporation (HHAC) provided $4.25 million. Bronx Borough President Ruben Diaz, Jr. provided $600,000 in Reso A funds. Capital One is the tax-credit investor and provided the letter of credit with a wrap from FHLB of Atlanta. The National Equity Fund is the tax credit syndicator. Pre-development funds were provided by the Corporation for Supportive Housing, LISC, and Citibank. 

 

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