TPT Longfellow Marmion Project

Bronx, NY

Bronx Pro Group and JGV Management formed a joint venture to substantially renovate two buildings in the Bronx totaling 52 units and three commercial spaces. Both buildings are a part of Third-Party Transfer (TPT) Program Round X. The joint venture partners secured construction financing in January 2025. The scope of work includes the replacement of all major building systems, new kitchens and bathrooms, as well as energy efficiency upgrades, including new insulation and rooftop solar PV systems. Financing sources include a private bank loan, HPD subsidy, 9% LIHTC, and AMEEP incentives. The Total Development Cost is $40.1 million.