Private developer’s NYCHA project in Mott Haven lands $79M in financing

Project from Breaking Ground at 448 East 143rd Street will be for low- and extremely low-income seniors.

New York /
Jul.July 05, 2019 01:30 PM
448 East 143rd Street in the Bronx (Credit: Google Maps)

448 East 143rd Street in the Bronx (Credit: Google Maps)

A NYCHA program’s supportive housing project in the Bronx has landed more than $79 million in financing.

The money is divided between about $1.5 million from the Breaking Ground Housing Development Fund Corporation, $2.7 million from the New York State Homeless Housing and Assistance Corporation, and $75 million from the New York City Housing Development Corporation, according to property records.

The Homeless Housing and Assistance Corporation and HDC did not respond to requests for comment.

The funding is for nonprofit Breaking Ground’s planned eight-story, 152-unit building at 448 East 143rd Street, which will feature about 74,000 square feet of residential space and 15,000 square feet of community space. The units will be for low- and extremely low-income seniors. The ground-up development is part of the NYCHA NextGen program’s goal of turning underutilized NYCHA land into affordable and supportive senior housing, according to Breaking Ground.

The community space will be for the DreamYard Project, an organization that provides Bronx youths with arts education and other opportunities. Seniors in the building will have access to amenities including an onsite library and computer lab and a terrace garden.

Breaking Ground focuses on providing supportive housing to the homeless, and its other New York properties include the Christopher at 202 West 24th Street and the Dorothy Ross Friedman Residence at 475 West 57th Street.


Related Articles

arrow_forward_ios
1065-1075 Gerard Avenue in the Bronx 
Prana pays Related $36M in Bronx multifamily play
Prana pays Related $36M in Bronx multifamily play
1159 and 1184 River Avenue with Maddd Equities' Jorge Madruga (left) and Joy Construction's Eli Weiss (right) (Credit: Google Maps)
Maddd Equities, Joy Construction score $64M for massive Bronx project
Maddd Equities, Joy Construction score $64M for massive Bronx project
An aerial of 1580 Story Avenue in the Bronx (Credit: Google Maps)
Brooklyn developer Joel Braver planning gargantuan resi project in the Bronx
Brooklyn developer Joel Braver planning gargantuan resi project in the Bronx
132-05 Avery Avenue, 902 55th Street in Borough Park and 750 Grand Concourse. (Google Maps)
Three landlords slapped with six-figure fines for carving up buildings
Three landlords slapped with six-figure fines for carving up buildings
Brookfield’s Bankside rendering and CEO Brian Kingston (Brookfield, ArX Solutions)
Brookfield’s $190M loan for Bankside tops February outer-borough list
Brookfield’s $190M loan for Bankside tops February outer-borough list
NYCHA Chairman Gregory Russ and NYCHA federal monitor Bart Schwartz. (NYCHA Monitor)
NYCHA overhauling management system
NYCHA overhauling management system
Benchmark's Jordan Vogel with 826 Madison Avenue (top) and 581 Austin Place (Linkedin, Google Maps)
Benchmark picks up UES building; SNL snares Bronx warehouse
Benchmark picks up UES building; SNL snares Bronx warehouse
President Joe Biden (iStock, Getty/Photo Illustration by Kevin Rebong)
Biden bans LGBT-based housing discrimination
Biden bans LGBT-based housing discrimination
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...