La Central

La Central is a multi-phase, five-building affordable housing development in the Melrose neighborhood of the Bronx. La Central will provide 992 units of 100% affordable housing, including 160 units of supportive housing for low-income and formerly homeless individuals with special needs. The community will also feature a new 50,000 square foot YMCA, a BronxNet television studio, and a public skate park.

HSE is involved in all aspects of acquisition, development, and real estate financing of La Central, including 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

Press
“Five Affordable Housing Developments Shaping New York City,” Urban Land
“Hudson Cos. and BRP Cos. host ribbon cutting for La Central,” New York Real Estate Journal
“First Two Properties Debut At La Central Affordable Housing Complex In Melrose, The Bronx,” New York YIMBY
“Ribbon cutting for La Central apartment buildings,” Bronx Times
“First two rentals open at huge South Bronx housing complex La Central,” 6sqft
“BRP and Hudson begin phase two of $335 million La Central project; Designed by FXCOLLABORATIVE with MHG Architects and Future Green Studio,” New York Real Estate Journal