Affordable Housing Development Starhill Phase 1 Breaks Ground
Developers have broken ground on Starhill Phase 1, a development that will create 326 units of affordable housing in the Bronx. Approximately 61% of the units will be set aside for New Yorkers currently experiencing homelessness, with the remainder allocated for households earning 30-80% of area median income (AMI) and one on-site superintendent. Starhill Phase 1 is being developed by Bronx Pro and Services for the UnderServed, a housing accessibility and empowerment not-for-profit that will also provide services to Starhill’s residents. The $189 million project is financed by $20.6 million in permanent state tax-exempt bonds; federal Low-Income Housing Tax Credits (LIHTC); a $31.5 million subsidy from New York State Homes and Community Renewal (NYSHCR); $31.5 million from the New York City Department of Housing Preservation and Development’s Supportive Housing Loan Program; and $1 million from the City Council of New York. HSE served as deal counsel. More details are available at Multi-Housing News.