As reported in New York YIMBY, the new Trinity-Reverend William James Senior Apartments located at 1074 Washington Avenue in the Bronx are now open. Formerly known as 1080 Washington Avenue for the address of the land that previously housed a vacant church, the new development creates 154 affordable apartments, a 5,400 square-foot ground floor space for wrap-around social services, recreational spaces, and garden. Thirty-seven percent of the apartments are reserved for formerly homeless or incarcerated senior citizens. The remaining units will be available to residents at or below 60% AMI.
The project was developed by Bronx Pro Group, United Methodist City Society, and The Fortune Society. Curtis + Ginsberg was the architect of record.
HSE served as deal counsel. Financing included $33 million in equity from federal low-income housing tax credits (LIHTC), $15.9 million in permanent state tax-exempt bonds, $13 million from the New York City Department of Housing Preservation and Development (HPD), $11.6 million in subsidies from the New York State Homes and Community Renewal (HCR) and $2 million from HCR’s Community Investment Fund Program. Enterprise Community Partners, Freddie Mac, and JP Morgan Chase provided additional funding.