The Real Deal New York

The Bronx borough prez is allocating $7M for housing this year. It’s going to these projects

Funds are spread across 10 developments
By Eddie Small | August 01, 2017 01:30PM

Ruben Diaz Jr. and rendering of 425 Grand Concourse (Credit: Twitter and Dattner Architects)

Bronx borough president Ruben Diaz Jr. will spend $7 million on housing throughout the borough in fiscal year 2018, spreading the funds from his capital budget across 10 upcoming developments that he says will create more than 1,500 new units of affordable housing.

“By far, the greatest volume of constituent requests received by my office is for housing assistance,” Diaz said in a statement. “Funding these upcoming projects addresses some of these housing issues we face.”

The projects Diaz is funding in this year’s budget include:

  • $1 million for Phipps Houses’ and the Acacia Network’s 220-unit affordable housing project at 1675 Westchester Avenue
  • $1 million for Trinity Mid Bronx Development Corp’s 289-unit affordable housing project at 425 Grand Concourse
  • $1 million for Radson Development’s affordable housing project at 2519 Creston Avenue
  • $750,000 for Catholic Charities’ and Sav Enterprises’ 319-unit affordable housing project at 1932 Bryant Avenue
  • $750,000 for NCV Capital Partners’ moderate- to low-income mixed use project at 1415 Ogden Avenue
  • $500,000 for improvements at Comunilife’s Dona Rosita I building at 315 East 148th Street serving formerly homeless New Yorkers with special needs
  • $500,000 for MHANY Management’s building at 700 Manida Avenue, which will contain 55 housing units with 20 percent going to seniors
  • $500,000 for New Destiny Housing to build homes for domestic violence survivors
  • $500,000 for Signature Urban Properties’ mixed income project at 1560 Boone Avenue
  • $500,000 for Thorobird’s 138-unit project at 220 East 178th Street, 225 East 179th Street and 2189-2195 Morris Avenue

Diaz’s overall budget for fiscal year 2018 provides $58.7 million for 146 projects.

Earlier this year, Diaz’s office said real estate investors pumped a record $3.3 billion into the borough last year. Over half of the investment came in residential development, and nearly three-quarters of the units were publicly subsidized, the report found.