Overview

Bronx Pro Group is a women owned, neighborhood-based firm dedicated to community development through affordable housing investments. Bronx Pro’s mission is to develop high quality affordable housing that is sustainable and builds thriving communities. The company and its affiliates employ full time professionals and support staff engaged in Real Estate Development, Construction, Property Management, and Resident Services. Since 1998, Bronx Pro completed the development of over 3,200 affordable housing units along with commercial and community spaces. These projects have a total development cost of $1,300 million. The Bronx Pro portfolio is primarily owned by the Magistro family who is proud to build beautiful homes as well as create permanent employment opportunities through their participation in New York City affordable housing programs.

Development

In 1998, HPD selected Bronx Pro for its Neighborhood Entrepreneur Program (NEP). The program transferred City-owned buildings to private, neighborhood-based property managers for development into low- and moderate-income housing. Bronx Pro was fortunate to participate in two rounds of NEP - renovating more than 300 apartments under the program. In 2004, Bronx Pro was selected by HPD and NYCHA to launch the agencies’ brand-new collaboration to transfer under-utilized, NYCHA-owned properties to private developers for the creation of low-income housing. As the first developer under the HPD/NYCHA Development Collaboration, Bronx Pro completed University Macombs Apartments, which consisted of four multi-family buildings containing 180 apartments and a vacant lot. The existing buildings underwent moderate renovation, and a new 30-unit building was constructed on the vacant lot, creating a total of 210 apartments and 15,076 SF of commercial space. Based on the success of the University Macombs Project, Bronx Pro was awarded a second 111-unit project (University Macombs Apartments II completed in 2008) and a third 173-unit project (University Avenue Consolidated 3 completed in 2011) from NYCHA.  

Since then, Bronx Pro continues to utilize innovative housing structures to build affordable housing projects. In 2012, Bronx Pro successfully structured the first mixed finance tax credit project, utilizing NYCHA Replacement Housing Capital, in over 30 years at 1070 Washington Avenue. The project is LEED Gold Certified serving some of New York City’s most vulnerable populations providing 21 new public housing units and 10 supportive housing units. In 2015, the company completed the modular construction of 3361 Third Avenue, a supportive housing project financed with HFA bonds and a then new financing resource, Medicaid Redesign Team capital. More recently, the company joint ventured with Services for the UnderServed to develop Jerome Court and built 176 units of housing on newly rezoned Jerome Avenue corridor utilizing neighbor air rights as well NYC 15/15 project based subsidies and social service contract. 

Preservation of occupied distressed properties is a critical component of Bronx Pro’s affordable housing mission. To meet this mission, Bronx Pro developed its own in house construction affiliate, Home Builders 1 LP to offer renovation and relocation services to distressed properties. Typical project scopes include all units receiving new kitchens and baths, plumbing, roofs, upgraded electrical, energy efficient windows, intercom, electronic key card access systems and new elevators where applicable. In an effort to save energy, interior of all exterior walls are insulated and highly efficient boilers and hot water heating distribution systems are installed. All exterior facades are repaired, pointed and cleaned and existing lobbies, public hallways and courtyards are upgraded. Together, Bronx Pro and Home Builders renovated 44 buildings for affordable housing through HPD’s Preservation Programs.

Property & Asset Management

The key to Bronx Pro’s continued success is the company’s strong property and asset management. Strict financial and physical discipline ensures long term sustainability throughout the portfolio, including properties operating for over fifteen years. This focus results in assets performing with extremely low vacancies rates, minimized arrears, and nominal eviction rates. 

Bronx Pro’s Asset Management team collects and analyzes key forward and lagging indicators for volume, timeliness and quality. The team monitors electric, gas, oil and water consumption by comparing buildings on per unit and per square foot basis. Property management then focuses initiatives on the out of class performers and develops strategies for improving the property. Asset Management also ensures the physical quality of the portfolio through onsite inspections for capital planning and risk mitigation.

While Bronx Pro’s focus is developing and managing self-owned properties, the company also fulfills its mission by engaging in third party management. In March of 2006, concerned partners and community members asked Bronx Pro to help reverse the decline of a complex of 30 buildings and 500 apartments. The properties suffered from deterioration, violations, vacancies, and government compliance issues. Absorbing and embracing this challenge, Bronx Pro proceeded to build processes, systems and staff capacities and successfully stabilized conditions so that the portfolio could be returned back to the not-for-profit. As a result of this almost two-year effort, Bronx Pro substantially grew its administrative and property management capacity.

Residential Services

Bronx Pro's mission is to provide safe, high quality affordable housing as a means to build strong and thriving communities. A key tenet of this mission is to support our residents beyond the provision of housing to promote long term stability and prevent homelessness. To this end, the company established an in-house residential services team for its preservation and property management work. The goals of Residential Services are: tracking and facilitating the transition of homeless families from shelters to permanent housing, preventing homelessness and improving the quality of life of Bronx Pro residents.  

To meet these goals, our staff employs the use of referrals and non-profit relationships to access supportive services which address education, life skills, and aging in place to name a few. Our efforts have directly impact those affected by job loss, domestic violence, illness and death. Residential services prides itself on being available to tenants in a way that is most meaningful to them whether it be through providing financial resources, education guidance or by simply sharing a meal. Residential services also works closely with property management by fielding resident inquiries on rent payment, repair status, legal cases, just to name a few.