A $91.6M mixed-use complex adds more housing to Jerome Avenue

A $91.6M mixed-use complex adds more housing to Jerome Avenue

May 26, 2023
Bronx Times
By Robbie Sequeira

Jerome Court has seen a slew of changes at its 1796 Jerome Ave. location in Morris Heights.

Once a motel — and then housing for tenants living with HIV/AIDS up until 2016 — Jerome Court’s latest chapter is a 16-story affordable housing complex with housing reserved for formerly homeless individuals and families experiencing behavioral health challenges who have since left the city’s shelter system.

The redevelopment of 1796 Jerome Ave. turns what was once a two-story single-room occupancy building into a mixed-use complex that is now providing 175 total units, with 69 of those considered affordable housing. The mixed-use building has 7,000 square feet of ground-floor retail space, which has been leased to several convenience and food operators.

The project is a collaboration between two Bronx organizations, Services for the UnderServed (S:US) and Bronx Pro Group LLC, when the former acquired the property in 2016. Both groups assert that the prior building was “underbuilt and unsuitable” for permanent housing prior to re-development starting in 2019.

“S:US’ core mission is to continuously advance measures for social justice. Our model is rooted in creating opportunities for all and investing in the communities we live and work in. It is the foundation of everything we do,” said Perry Perlmutter, interim president and CEO of Services for the UnderServed.

The $91.6 million project was funded by the city Department of Housing Preservation and Development’s Supportive Housing Loan Program and additional funding streams from the city’s Housing Development Corporation’s Extremely Low and Low-Income Affordability program, 4% tax-exempt bonds as well as banks like TD Bank and Enterprise.

Read the original article here.

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