A new housing development is positioning itself to be the cornerstone of a community undergoing a renaissance.
Local and city officials joined MacQuesten Development and the Union Grove Community Economic Development Corporation to celebrate the Friday, October 16 grand opening of a new apartment complex at Crotona Park East that will offer high-quality, affordable rental housing.
Mother Arnetta Crawford Housing, located at 1500 Hoe Avenue, is a seven-story, 78,000 square-foot building with 84 one- and two-bedroom apartments which include such amenities as two indoor recreation rooms situated on its seventh floor offering residents a breath-taking view of the iconic Manhattan skyline, a secure outdoor play area and a secure ground floor parking area for 21 cars.
Rella Fogliano, MacQuesten Development president, hosted the ribbon cutting ceremony where UGCEDC representatives; Borough President Ruben Diaz, Jr.; NYC Department of Housing Preservation and Development Assistant Commissioner Susan Kensky; NYC Housing Development Corporation president Gary Rodney; NYC Housing Authority’s Geneve Davis and Burton Leon and Community Board 3 members were in attendance.
Completed in May 2015, the $27 million project features LEED Silver Level design and construction meant to reduce its environmental impact.
“Housing is a major issue in New York and projects like the Mother Arnetta Crawford Housing Complex help our borough to continue growing stronger each year as we improve the Bronx’s quality of life,” said Borough President Diaz, Jr. who invested $500,000 from his capital budget to fund this project.
The new development was named after Mother Arnetta Crawford, a Union Grove Missionary Baptist Church community leader and wife of its founding pastor, Rev. Dr. Fletcher C. Crawford, in recognition of her collaborative efforts assisting the local area through their church.
“We are very proud to celebrate the grand opening of this beautiful new building which is providing residents with attractively designed affordable apartments,” said Fogliano. “The focus of all of our projects is to provide well-designed, sustainable multi-family and affordable housing for the communities where they are needed most and that’s what we have achieved with this new project.”
“HDC is committed to working with partners like MacQuesten Development and Union Grove Baptist Church to create safe, quality affordable homes that add value to neighborhoods and make a profound impact on people’s lives,” said Rodney. “Mother Arnetta Crawford exemplifies what can be accomplished through public-private partnership to foster strong, sustainable communities.”
“Supporting the development of safe, affordable housing in underserved communities like Crotona Park is vitally important to Bank of America Merrill Lynch. MacQuesten’s experience with and passion for community development made this an ideal project to finance,” said Todd Gomez, Bank of America Merrill Lynch northeast regional executive.
In addition to $13 million venture debt financing, the bank provided over $10 million of low income housing tax credit equity for the project.
“Any new residence is definitely welcomed in any community and especially in ours which is undergoing a renaissance and is seeing an increase in its population,” said John Dudley, CB 3 district manager.
MacQuesten has current development projects in excess of $200 million through the boroughs and Westchester County.
The Pelham, NY-based company’s other affordable Bronx housing developments include Palmer Court Homes, Claremont Park Apartments, Rev. Dr. Fletcher C. Crawford Housing, Webster Place Apartments and Hughes Avenue Crescent.
