Image Credit: NYC HPD
The new building will provide supportive services and amenities to tenants. On April 16, 2019, the Department of Housing Preservation and Development, Services for the Underserved, and other development partners announced the opening of 1434 Undercliff Avenue, in the Highbridge neighborhood of the Bronx . The new development will serve as supportive housing for formerly homeless and low-income New Yorkers.
The new seven-story building was constructed on a site formerly used for parking and refuse storage. The building offers 74 apartments, with 19 studios set aside for formerly homeless individuals with mental health challenges, 45 studios for formerly homeless veterans, and ten two-bedroom units for low-income families from within the community. The building was constructed with energy efficient solar panels, and features amenities for tenants such as a rooftop recreation space designed for urban gardening, a multi-purpose community room, a computer suite, and a laundry room.
The building will provide several benefits and services for tenants. Formerly homeless households will receive rental assistance through the NYC 15/15 Initiative, a program designed to facilitate a path from shelter to permanent housing. Veterans will receive rental assistance and access to supportive services through the HUD-Veterans Affairs Supportive Housing Program. Services for the Underserved, an organization that serves people with disabilities, people in poverty, and people facing homelessness, will provide on-site supportive services for tenants. The services include personalized support tailored to each tenants’ needs, daily life skills training, job placement, financial planning, and support in healthy living and wellness. The programs will be subsidized by the Human Resources Administration and Department of Health and Mental Hygiene.
The 1434 Undercliff Avenue development cost about $32.2 million and was funded by different groups. The project received $8.9 million in permanent capital financing and $14.2 million in Low-Income Housing Tax Credits from HPD. It also received $68,000 in Federal Solar Tax Credit Equity, with Richman Housing Resources as the project’s tax credit syndicator. Citi was the lender and provided a $16 million construction loan, a $1 million subordinate loan and $14 million in LIHTC equity for the project. Predevelopment funding of $1.5 million was provided by the Corporation for Supportive Housing.
“One of the most effective solutions to help homeless individuals and families get back on solid ground is supportive housing. This administration recognizes that and made a significant commitment to supportive housing through the use of the 15/15 initiative. This development gives 74 households, including formerly homeless veterans, the opportunity to stabilize their lives, “said Acting HPD Commissioner Eric Enderlin.
“The City is committed to helping our neediest neighbors get back on their feet and supportive housing plays a crucial role in this effort. This building provides a critical pathway forward for those in need and stands as an example of what we hope to achieve as we implement the historic NYC 15/15 initiative,” said Department of Social Services Commissioner Steven Banks.
By: May Vutrapongvatana (May is a CityLaw intern, and a New York Law School student, Class of 2019).