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.
Located at 341 E162st in the Melrose section of the Bronx, the site consists of 171 units, 103 of which are supportive housing set aside for formerly homeless individuals with mental health or substance abuse issues, as well as individuals and families who have been victims of domestic violence. In addition, Melrose North is designed and constructed to a Passive House standard to significantly reduce the development's environmental impact as well as ensure the project’s long-term financial stability. S:US’s social service offices is housed on the ground-floor along the Courtlandt Avenue (east) side of the building. In addition, Melrose North features 5,164 SF of community facility space on the 162nd Street side of the building as a youth arts education facility operated by the DreamYard Project. Here, Bronx youth learn professional development, design, and marketing for the burgeoning gaming industry.
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 affordable units will serve a range of incomes between 30% and 80% AMI, and social services and operations for the supportive units are funded by ESSHI for Phase I and by NYC 15/15 for Phase II of the development.
The Phase I building is 253,00 sf with 326 units of supportive and affordable housing. It closed on construction financing in June 2022 and is 94% complete as of September 2024. The building includes 200 supportive housing units for singles and families. Total development cost is estimated to be $190 million financed through HCR’s Supportive Housing Opportunity Program (SHOP), HPD’s Supportive Housing Loan Program (SHLP), HFA tax-exempt bonds, 4% Low Income Housing Tax Credits, and Reso A funds.
The Phase II building will be 219,560 sf with 244 units, of which 169 will be affordable and 74 will be supportive. This building will also include approximately 8,000 square feet of community facility space. Bronx Pro and S:US closed on construction financing in June 2024. Total development cost of estimated to be $167 million, and is financed through HPD’s and HDC’s Extremely Low- and Low-Income Affordability (ELLA) programs, HDC tax-exempt bonds, 4% Low Income Housing Tax Credits, and Reso A funds. Phases I and II will share amenities spaces and social service offices to maximize the project’s efficiency. The Starhill campus will include 11,500 sf of publicly accessible open space, a rear yard, and a passive recreation area for residents located on the second-floor terrace. Total combined development cost is $357 million.