In October of 2022, New York City‘s restoration economy advanced as it completed the process of turning a blighted, vacant property into 119 affordable, energy-efficient apartments, and began the process of transforming an underused site into 60 affordable, energy-efficient apartments for seniors.
Yonkers:
On October 12, 2022, construction began on a $44 million redevelopment that will create 60 energy efficient and affordable homes for seniors in South Yonkers. Known as La Mora Senior Apartments. The redevelopment project replaces a blighted property with a sustainable building with modern features.
Senate Majority Leader Andrea Stewart-Cousins said, “When completed, La Mora Senior Apartments will help assure that more low-income seniors in Yonkers will have safe, sustainable, low-cost housing options and much needed services while also revitalizing the surrounding Yonkers Hollow neighborhood. I am pleased to lead the State Senate that is focused on ways to create more affordable housing and affordability for New Yorkers here and across the state.”
Located in the Hollow neighborhood of South Yonkers, the redevelopment will be constructed on a long-vacant parcel acquired by the Municipal Housing Authority of the City of Yonkers.
The four-story building will consist of 57 one-bedroom apartments and three two-bedroom apartments. All 60 apartments will be affordable to residents aged 62 and older with incomes at or below 60 percent of the Area Median Income.
La Mora Senior Apartments is designed to be highly energy-efficient and meets the criteria for the New York State Energy Research and Development Authority‘s New Construction – Housing Program, Energy Star, Enterprise Green Communities, and Passive House Institute certifications.
All apartments will include low-flow plumbing fixtures, Energy Star appliances, individual high-efficiency electric heat and cooling, and LED lighting.
The building will have a high-efficiency envelope, dual-pane insulated windows, and a central hot water heating and distribution system. An emergency generator will ensure that the building systems remain operable in the event of a blackout.
Residents will have access to services provided the Yonkers Office for the Aging, including case management, home-delivered meals, assistance with entitlement programs, transportation, health awareness programs, access to nutrition centers, recreation and exercise programs, and supermarket and pharmacy delivery coordination. Services will be funded by the Office for the Aging and the Westchester County Department of Senior Programs and Services.
The immediate surrounding neighborhood includes multiple public parks and a golf course, and the development will be near St. Joseph’s Hospital and Medical Center. Residents will also be able to enjoy on-site indoor and outdoor common areas.
La Mora Senior Apartments is being co-developed by MHACY and the Mulford Corporation, a 501(c)(3) not-for-profit charitable development corporation formed by MHACY in 2004.
State financing for La Mora Senior Apartments includes $17 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that will generate $17.7 million in equity, and $9.1 million in subsidy from New York State Homes and Community Renewal. NYSERDA will provide $240,000. Westchester County is providing $3.4 million from the Housing Implementation Fund and the city of Yonkers is providing $650,000 in HOME funds. MHACY provided a $2.6 million loan.
In the last five years, HCR has invested over $331 million to create and preserve nearly 2,400 affordable homes in Yonkers. This includes Landy Court, which now provides 80 affordable apartments, including 48 with supportive services near Downtown Yonkers, and 172 Warburton at the Ridgeway, which created 85 new apartments.
Bronx:
October 18, 2022 saw the completion of Tremont Residences, a vacant single-story retail building was demolished to make way for a green, 11-story, $50.6 million affordable housing development in the West Farms area of the Bronx. The new 119-apartment redevelopment offers onsite services for people experiencing homelessness who need support to live independently.
Tremont Residences has 95 studio, 14 one-bedroom, and 10 two-bedroom apartments that are affordable to households with incomes between 30 and 60 percent of the Area Median Income.
The redevelopers, Camber Property Group and Slate Property Group, partnered with Westhab, Inc. to provide on-site support services for 71 households funded through an Empire State Supportive Housing Initiative award administered by the New York State Office of Mental Health. Services include case management, job readiness, placement, retention, referrals, and mental health services. Rental subsidies for the units are also included under the Empire State Supportive Housing Initiative funding from the Office of Mental Health.
The redevelopment’s amenities include a social services office suite for residents, landscaped outdoor recreational space, full-time security, a 1,300-square-foot community room, fitness center, computer lab, reading lounge, bike storage, and laundry rooms on each floor.
The ground floor houses a 6,500-square-foot commercial space that is owned by a third party and is currently available for rent. The project is in a mixed-use, transit-rich area, near medical facilities, schools, shopping, and within walking distance of Crotona Park and Bronx Park, the Botanical Garden, and Fordham University.
Tremont Residences meets Enterprise Green Communities Standards and includes Energy Star appliances, solar panels, water conserving fixtures, low-VOC finishes, and coated windows. Insulation and roof coating and materials are designed to be energy efficient.
State financing for Tremont Residences includes $8.4 million in permanent tax-exempt bonds, Federal Low-Income Tax Credits that will generate $17.3 million in equity, and $20.5 million in subsidy from New York State Homes and Community Renewal. OMH Is providing nearly $1.8 million in annual ESSHI operating funding for the supportive housing and a total of $479,544 in Program Development Grant funding.
Rendering of La Mora Senior Apartments courtesy of Mulford Corporation.