A new senior development is underway in the west Bronx.
Last week, Enterprise, Fordham Bedford Housing Corporation, NYC Housing Preservation and Development, NYC Housing Development Corporation and NYC Housing Authority announced they had closed on a deal to build senior affordable housing.
The $100 million development, named Serviam Heights, is expected to provide 197 units of affordable housing for low-income and formerly homeless seniors.
The project will include a nine-story building, containing 140 units, as well as the conversion of a 4-story existing former convent offering 57 residential units.
The renovated structure will feature energy efficient upgrades such as aluminum double-hung windows with low-E, argon-filled glazing, high-efficiency Energy Star-rate lighting fixtures, Energy-star rated appliances and green plumbing fixtures including dual flush water closets and low flow sinks.
The project, upon completion, will be Enterprise Green Communities certified.
Serviam Heights, which is partially located on the Academy of Mount St. Ursula’s campus, is the third project (Phase III) of FBHC’s Serviam senior housing campus development, which includes Serviam Gardens (Phase I), an 83-unit mixed-use project, and Serviam Towers (Phase 1), which provides 160 residential units.
Serviam Gardens and Serviam Towers were completed in 2009 and 2010.
“Fordham Bedford (Housing Corporation) is pleased to convert such an important building and location in our community to senior housing,” said John Reilly, executive director of lead developer Fordham Bedford Housing Corporation, who has held the position since the corporation’s founding in 1980.
Reilly said that Serviam Heights has already received over 7,000 applications from potential residents.
He added that Phase IV of Serviam’s senior housing campus development would include a mixed-income development at 198th Street and Marion Avenue, with construction on the project beginning sometime around the end of the year.
“Through Mayor de Blasio’s Housing New York plan, we aim to push ourselves and our partners to find new, creative ways to develop much needed affordable housing,” said HPD commissioner Vicki Been.
“Our senior population is growing rapidly, as is the demand for affordable housing,” said Gary Rodney, president of HDC.
The total development cost for this project is approximately $98.8 million,
HPD will also provide $153,000 in federal HOME Investment Partnership Program funds, while Councilman Ritchie Torres will provide $500,000 in Resolution A.
Additionally, Enterprise syndicated $40.3 million in Low Income Housing Tax Credits, while BNY Mellon provided the tax credit equity.
Serviam Heights is projected to be completed in December 2017, and HPD anticipates the opening of this development to take place in early 2018, after completion and rent-up.
©2016 Community News Group