In September 2018, Bronx Pro Group was awarded management of 3 distressed properties in Morris Heights via NYC’s Third-Party Transfer program. A substantial rehabilitation of properties is under construction, including new kitchens, baths, plumbing, roofs, and electrical upgrades across each of the buildings. The project is financed via HPD Subsidy Programs and 9% Low Income Housing Tax Credit Equity. Total development cost is $32.11 million, and the project targets a December 2023 closing date.
Services for the UnderServed Inc. (S:US) and Bronx Pro Group are partnering on an exciting redevelopment of an underutilized site located at 1600 Macombs Road in the Morris Heights section of the Bronx. The site is approximately 2 acres (65,000 feet) and it was occupied by a former hospital operated by S:US as a residential treatment center. The proposed development utilizes the new R8-A zoning allowed by the Jerome Corridor Rezoning to create a mixed use and mixed income campus to be developed in two phases with two buildings containing 570 new units of supportive and affordable housing connected by a one-story shared amenities bridge where common spaces and social service offices can be shared. The campus also includes 11,500 sf of publicly accessible open space, a rear yard and a passive recreation area for residents located on the second-floor terrace.
Phase I closed on construction financing in June 2022 and is 53% complete as of November 2023. The building is 253,00 sf with 326 units of supportive and affordable housing. The project serves a range of households with income between 30% and 80% AMI and includes 200 supportive housing units with service and operating funding through ESSHI. The development is financed through HCR’s Supportive Housing Opportunity Program (SHOP), HFA tax exempt bond financing, HPD’s Supportive Housing Loan Program (SHLP), HFA tax-exempt bonds, 4% Low Income Housing Tax Credits and Reso A funds. Total development cost is estimated to be $190 million.