As reported in New York YIMBY, the recently opened Tiffany Court will bring 151 units of affordable housing to the Bronx. Located at 980 Westchester Avenue in the Foxhurst neighborhood, Tiffany Court will also include an outdoor terrace, on-site laundry, a computer room, and 25,000-square-foot retail space. Tenants in approximately 20% of the residential units will receive supportive services provided by project co-developer The Doe Fund, including substance abuse counseling and career training.
Tiffany Court was developed by The Doe Fund and Bolivar Development; HSE served as deal counsel. Financing for the $71.6 million project was obtained through tax-exempt bonds and a second mortgage from the New York City Housing Development Corporation (HDC), subsidies from the New York City Department of Housing Preservation and Development (HPD), and Low-Income Housing Tax Credits (LIHTC). Private funding sources included Chase Bank, a Federal Home Loan Bank of New York grant, and New York City Council discretionary funds from District 17 Councilperson Rafael Salamanca, Jr. and former City Council Speaker Corey Johnson.