Representative Transactions >
La Central is a multi-phase, 5-building 100% affordable housing development that will bring 992 units of affordable housing to the Melrose neighborhood of the Bronx. The affordable housing will include 160 units of supportive housing for low-income and formerly homeless individuals with special needs. A new 50,000 square foot YMCA will be developed, a BronxNet television studio, and a public skate park. HSE is involved in all aspects of acquisition, development and financing of this Project, which include tax exempt and taxable bonds, Low Income Housing Tax Credits (LIHTC), New Market Tax Credits (NMTCs), institutional loans and equity investments from project investors. In addition, the firm obtained the following ULURP approvals from the New York City Planning Commission and New York City Council: disposition of city-owned property, a zoning map amendment to rezone the site from M1-1 and C4-4 to C6-2, a zoning text amendment to map an MIH area, and large-scale general development special permits for bulk and use waivers.
Developer: The Hudson Companies / BRP Companies / ELH-TKC LLC / Breaking Ground / Comunilife
Architect: FX Collaborative / MHG Architects
Contractor: Mountco Construction & Development Corp.
Financing: HDC / HPD / Wells Fargo / Citibank / Wells Fargo Affordable Housing Community Development Corporation