What was formerly a vacant parcel at 4697 Third Avenue in the Bronx, will be transformed into a thriving affordable, sustainable mixed-use, mixed-income housing community. It is designed and constructed to a rigorous Passive House standard that will significantly reduce the development’s environmental impact. The ground-floor commercial space enlivens the retail corridor and the space will be leased to a tenant who can contribute to the health and vitality of the neighborhood. The total development cost is at $34 million. The rents and Incomes are expected to be restricted to a maximum of 30% to 80% of the area median income. The building will also include a deeply affordable, formerly homeless tier. Building amenities will include a large terrace with a playground and gardening, an indoor gym, bike room and on-site laundry.
The 7,131 square foot, R7-1 zoned site is located at the corner of East 181st and Mapes Avenue (3111-35) in the Belmont section of the Bronx, NY. The project was financed by the HPD New Construction Program (NCP), a Private- Bank Loan, and Low-Income Housing Tax Credit Equity generated from the sale of 9% tax credits. The total development cost is $19.6 million. The 6-story building contains 30 apartments including 2 Studio’s, 6 one-bedrooms, 16 two-bedrooms, and 6 three-bedrooms. The rents and incomes are restricted to a diverse income band between 30% and 80% of AMI. The building includes a deeply affordable, formerly homeless tier. The project is designed to a rigorous Passive House standard that will significantly reduce the development’s environmental impact. The building activates healthy living conditions through active design, quality indoor air systems and building uses that feature fitness and exercise elements that meet Enterprise Green Community standards. Building amenities include a gym, bike room, on-site laundry, and a beautifully landscaped backyard.
Aquired in December 2017, Bronx Pro has engaged in a $79.6 Million development project to transform the formerly vacant United Methodist Trinity into a 12 story, supportive housing site for Seniors in the Bronx. Located in Morrisania, 1074-1080 Washington Avenue includes 154 units of housing reserved for low income seniors over 62, with 30% of units dedicated to homeless residents, and supportive services located on site. Development concluded in May 2022, and the site is currently in full operation.
Bronx Pro Group (BPG) and Precise Management formed a joint venture to substantially renovate 6 buildings located in Harlem that contain 125 units. An affiliate of BPG will be the managing member of the joint venture through the 15-year tax credit compliance period. Three of the buildings were owned by The New York City Housing Preservation and Development (“HPD”) and two of the buildings were owned by the non-profit Neighborhood Restore. During construction the tenants were relocated within the portfolio. Since construction completion, tenants have now returned to either their existing units or new units.
In 2020, Bronx Pro completed a 301-unit, Year 15 renovation for the company’s first two tax credit projects, University Avenue LP (UALP) and 168th Street Development LP (168th), developed through HPD’s Neighborhood Entrepreneurship Program. Though both clusters were gut renovated in the early 2000s, Bronx Pro took the reposition as an opportunity to add sustainability and resiliency to the cluster for the long term. The proposed renovation met the pressing capital needs of the portfolio as well as improved the building envelope with new roofs, UPVC windows installed with air/vapor barriers and 1” of rigid foam over existing walls. LED lighting and Energy Star rated appliances were installed in apartments and the toilets were replaced with HET or better models. New condensing boiler plants and air to water heat pumps with HEATSWITCH controls were added to larger properties. At 1109 Clay Avenue and 30 Buchanan retrofit heating terminal units with high output hydronic baseboard and room by room thermostatic controls were installed. Solar PV was also added to 30 Buchanan. The total development cost for the project is $38.60 million.
The completed project is located at 1017 Home Street in the Foxhurst section of the Bronx, NY. The property consists of a 9,421 square foot development site formerly occupied by a dilapidated, two-story church. The new development has transformed 1017 Home Street into an 8 story, newly constructed senior housing project. The project was financed through the New York City Senior Affordable Rental Apartments (SARA) Program, 9% Low Income Housing Tax Credit (LIHTC) equity and a bank loan.
The project includes 64 units of housing along with 3,000 square feet of first floor community facility space. The project design meets LEED Gold standard and includes many energy efficient features. The residential amenities include a lounge, gym, bike room, roof terrace, tenant storage and on-site laundry The unit mix includes a two-bedroom superintendents unit, forty-five (45) studios and eighteen (18) one-bedrooms for Seniors aged 62 and over with incomes up to 60% of the area median income. Thirty percent of the units are reserved for homeless seniors referred by a City or State agency.
The project is located at 3363-3365 Third Avenue in the Morrisania section of the Bronx, NY. The development consists of thirty (30) units including, twenty-four (24) LIHTC units, five (5) Moderate Income units and one (1) unit set aside for an on-sight superintendent. The building includes 9,586 of community facility space for Little Scholars Early Development Center. The project was financed through the New York City Neighborhood Construction Program, 9% Low Income Housing Tax Credit (LIHTC) equity and a bank loan. The project was designed and constructed to the Passive House Standard.
This project entails the substantial rehabilitation of 181 units in 5 buildings throughout the Bronx. The project is being completed in partnership with the original owner Anthony Gazivoda. The project was financed with 9% Low Income Housing Tax Credits issued by HPD as well as HPD financing through the PLP program, a construction and a permanent loan from JP Morgan Chase. Enterprise Community Investments is the tax credit syndicator. Total Development Cost: $42 MM.
In July 2013, Bronx Pro entered into a contract to preserve 9 multifamily properties (423 units) in partnership with the original owner Anthony Gazivoda. The project started phase1 with the construction of 269 units in December 2013. HPD provided financing through its PLP program with JP Morgan Chase acting as the private lender plus developer equity. Total Development Cost: $44.5 MM.
In December 2012, the company acquired a privately owned 6-story elevator building with 72 occupied apartments located at 1479 Macombs Road at Cromwell Avenue in the Tremont neighborhood of the Bronx. The property was severely distressed requiring extensive beam and joist replacement in addition to the comprehensive renovation program anticipated. The team also restored the property’s decorative brick façade to its original 1929 appearance. HPD provided financing through its PLP program with JP Morgan Chase acting as the private lender plus developer equity. The project was completed in May 2015. Total Development Cost: $14MM.