Gouverneur Place will soon be the location of a new affordable housing development with amenities.
Currently under construction, the Gouverneur Place Apartments will provide affordable housing units as well as other services to potential tenants upon completion.
The seven-story, 68-unit development, located on 450-458 Gouverneur Place, will include a mix of one-, two -and three-bedroom units and will integrate high quality affordable housing with supportive services for people with mental health disabilities.
Approximately 50 of the 68 apartments units will be reserved for individuals with mental health disabilities.
Other amenities of the development, which is being built on a 50,000 square foot lot, will include a superintendent’s unit, computer lounge, community room, onsite supportive services, laundry room, storage for bikes and other tenant property and an outdoor recreation area.
The residence will not include parking, but is located within walking distance of bus service on Webster and Park avenues.
Property owner Westhab, Inc., a not-for-profit housing and social service provider, purchased the property in January 2009 from an undisclosed third party seller and is currently developing the site.
Westhab will also manage the property when construction is expected to be completed in July 2016.
A hard-hard tour also took place at the site on Monday, July 20.
Since being proposed, the development has received supportive funding from the State of New York, who provided $11.7 million in capital funds and bond for the development through the Dormitory Authority of the State of New York in coordination with the New York State Office of Mental Health, New York State Homes and Community Renewal, who provided 4% tax credits and UnitedHealthcare, who is investing $7.8 million in Low Income Housing Tax Credit equity through a partnership with Enterprise Community Investment, accounting for over $19 million of almost $21 million being invested in the project.
The state’s funding is part of Governor Cuomo’s commitment to affordable housing and community revitalization, which includes the $1 billion House NY Program, the state’s largest affordable housing investment in nearly two decades.
“Gouverneur Place is an important partnership that will bring new, affordable housing for individuals and families in need in the Bronx,” said Richard Nightingale, president and CEO of Westhab. “When completed next year, this new community will bring hope and opportunity for the people who will call Gouverneur Place their home.”
“As one of the largest issuers of tax-exempt debt in the nation, DASNY understands the value that these funds provide to the development of critical social infrastructure projects across the state,” said Gerrard Bushell, president and CEO of DASNY. “The Gouverneur Place project is a great example of how partnerships can successfully advance our social goals.”