S:US and Bronx Pro Group break ground on Jerome Avenue Apartments; Marvel Architects designed the 175-unit project
New York Real Estate Journal
November 5, 2019
Bronx, NY Council member Fernando Cabrera, the NYC Housing Development Corp. (HDC), the NYC Department of Housing Preservation and Development (HPD), and the NYC Human Resources Administration (HRA) joined Services for the UnderServed (S:US), Bronx Pro Group LLC, Enterprise Community Partners, and community members to celebrate the groundbreaking ceremony for Jerome Ave. Apartments, a new 175-unit supportive housing mixed-use building in the Morris Heights section. The 16-story, 144,000 s/f apartment complex will create retail opportunities and provide affordable housing for formerly homeless individuals and families with supportive housing service needs.
“Today’s groundbreaking marks an important achievement,” said Cabrera. “More than 70% of the constituents that come to my district office need help with safe, decent housing they can afford.”
The lack of affordable housing, especially for those facing the additional challenges of having been homeless, having mental health or substance abuse, has been one of our most intractable challenges. But with Jerome Ave. Apartments, we are definitely turning the tables on this problem. With 105 supportive units, 69 affordable units, laundry and fitness room and solar panels, we are addressing both homelessness and climate change. I’m proud of the collaboration among HPD, HDC, HRA and other partners. Working together produces the results we need.”
The New York City 15/15 Supportive Housing Initiative will fund operation costs and rental subsidies for the 105 supportive units for extremely low-income households. S:US will provide counseling services, case management, and organized social activities to individuals and families in need. The remaining apartments will be affordable to low-income households, 20 of which will remain permanently affordable through to the Mandatory Inclusionary Housing program.
In March 2018, the New York City council approved the Jerome Avenue Neighborhood Plan, which outlines a $189 million investment in capital projects and neighborhood services for the community. Jerome Ave. Apartments is one of six affordable housing developments planned for the area.
Jerome Ave. Apartments will have solar panels and is being built to meet Enterprise Green Communities Criteria for reduced use of fossil fuels and superior indoor air quality for the residents. Amenities for tenants will include a laundry room, fitness room, 24-hour security, and 2,621 s/f for on-site social services and office spaces for S:US. The development will include a brand-new activated street front for pedestrians, 7,000 s/f ground-floor retail space, and improved landscaping on 176th St. between Davidson and Jerome Aves.
“Everyone deserves a home. The Jerome Ave. Apartments will be more than just a building — this development will bring hope, possibility, and opportunity to New Yorkers who have experienced homelessness, addiction, poverty, and mental health challenges,” said S:US CEO Donna Colonna. “Services for the UnderServed is proud to support 175 New Yorkers to get the home they deserve.”
“Jerome Ave. Apartments is a great opportunity to observe how city planning and public policy create good outcomes for New Yorkers,” said Samantha Magistro, managing director of new business, Bronx Pro Group. “We are excited to be a part of this new chapter for the Jerome Corridor and grateful to HDC, HPD, HRA and DCP for making mixed-use, mixed-income affordable housing possible in the Bronx.”
Jerome Ave. Apartments is being financed through HDC’s Extremely Low-income and Low-income Affordability (ELLA) program with $45.7 million in tax-exempt bonds from HDC and $18 million from HPD’s Supportive Housing Loan Program (SHLP). Enterprise syndicated $34.7 million in equity through Low-Income Housing Tax Credits and is contributing $3 million in Settlement Funds to support project costs. The supportive housing units will receive an HRA subsidy to fund social services and matching rental assistance from HPD to cover operating expenses.
“With the growing homelessness crisis in New York, it is critical now more than ever to provide affordable housing and supportive services to formerly homeless individuals,” said Judi Kende, vice president and New York market leader, Enterprise. “Jerome Ave. Apartments will do just that, while also bolstering the broader Morris Heights community. We are proud to partner with S:US, Bronx Pro Group, HDC, HPD, HRA, and all of the partners to make this project happen.”
“Jerome Ave. Apartments will bring much needed affordable housing with onsite supportive services to the Bronx,” said HDC president Eric Enderlin. “Thanks to the collaborative work of government, nonprofit, and private sector partners, this development will soon offer a foundation of stability and hope to some of our most vulnerable New Yorkers.”
“We’re putting shovels in the ground to build life-changing opportunities for New York City families. Thanks to this administration’s substantial investments and crucial partnerships, Jerome Ave. Apartments will create 175 deeply affordable homes for families and individuals, including formerly homeless households with special needs,” said HPD commissioner Louise Carroll. “I applaud our development partners for their ongoing work, and thank Council Member Cabrera and our colleagues in government for their support and dedication to create a more equitable New York City.”
“Every day, we’re connecting more New Yorkers experiencing homelessness or facing housing instability to the essential lifeline that a supportive housing placement provides,” said Grace Bonilla, administrator for the NYC Human Resources Administration. “We are proud to partner with S:US, the private sector and other sister agencies on this project as we continue providing vital resources to help our neighbors get back on their feet through the city’s unprecedented NYC 15/15 initiative.”
“Across the country, the need for affordable housing continues to grow,” said Matthew Schatz, vice president at TD Bank. “TD Bank is proud to provide financing for this important development which will offer safe housing for one of our most vulnerable populations while adding more affordable housing options for the Bronx community.”
The site is a joint venture between S:US and Bronx Pro Group. Jerome Housing Development Fund Corp. is the owner of the property. Marvel Architects is the architect for the project. Construction for the project is expected to be completed by late 2021/early 2022.