SEBCO Development, Inc. celebrated the groundbreaking for the future Tiffany Park, on Thursday, June 19, but its completion date has been delayed due to the project being defunded by the Bronx Borough President’s Office.
SEBCO had originally planned on raising an estimated $100,000 through various donations, to match the BP’s $500,000 grant, and were halfway to reaching their goal.
Due to the city’s current fiscal crisis, the Department of Housing Preservation and Development cut the grant from the budget.
“Unfortunately, as per a directive from the Office of Management and Budget, the Borough President’s Office is being forced to reevaluate and in some instances postpone some projects,” noted Anne Fenton, communications director at the Bronx Borough President’s Office. “We are working diligently to preserve as many projects as we can.”
The park was originally planned as an extension of the Sister Thomas Apartments, located at 870 Southern Boulevard, which contain approximately 105 apartments. The apartments, completed in February, were recently occupied.
The adjoining park’s construction was set to begin this fall, but will now be temporarily delayed pending the financial complication.
“This is one of the last vacant lots in this area. This is a fairly nice commercial area so this could be considered the missing tooth in your front teeth,” said SEBCO president Peter Cantillo. “It was an eyesore for the community.”
SEBCO hopes to appeal HPD’s decision and restore its funding, elaborating that this park is a necessity to the local community.
“Tiffany Park is obviously an important part of the community’s redevelopment and provides a nice passive recreation area for people, especially senior citizens,” stated Cantillo.
SEBCO hopes to gain support for the completion of Tiffany Park at their 40th Anniversary Gala, held on Friday, November 14 at the Marina del Rey.