Over the past 30 years, the Belmont Arthur Avenue Local Development Corporation has rehabilitated and constructed 40 buildings and created a portfolio of properties containing over 1,700 units of affordable housing.
Most recently, Belmont Arthur has partnered with LISC NYC and will be spotlighted at this year’s virtual gala on Feb. 4. LISC, a community development financial institution has collaborated with Belmont Arthur and other nonprofits such as SOBRO and Banana Kelly for many years.
The two organizations are in the process of creating 65 units of affordable housing at 62-66 West Tremont. The building at the site was gutted and the work will take 18 months to finish. It is expected to be ready by March 2022.
“This is definitely a great project for the community, “said Arturo Suarez, director of Lending for LISC. “Our work with Belmont Arthur goes back to the late 80s.”
Suarez told the Bronx Times this project has the support of the borough president, HPD and the community.
Joe Cicciu, executive director of Belmont Arthur, founded the nonprofit in 1983. Born and raised on Hughes Ave., providing affordable housing for the south Bronx has always been important to him.
Cicciu praised LISC for their partnership, but is also quite concerned about the possible rise in evictions and need for more affordable housing due to COVID-19.
“We’re so thankful for LISC’s involvement in the project,” he stressed. “Financing came in at a very welcome time. These are challenges not only in Belmont, but the entire south Bronx and the city.”
Cicciu, a humble man, is looking forward to the gala, but noted the work of providing housing has not ended.
“It’s nice to be recognized by my peers,” he said.