Home | News | Local | Groundbreaking Ceremony For Bronx Affordable Housing Complex

Groundbreaking Ceremony For Bronx Affordable Housing Complex

Font size: Decrease font Enlarge font
image
Affordable family-sized housing in Melrose, Bronx.

POKO Partners, LLC in partnership with New York City Housing Partnership, celebrates the start of construction with a groundbreaking ceremony on the first phase of a $13 million development which will result in bringing 37 affordable apartments over three sites to working class families in the Bronx.

This investment will help the Melrose neighborhood to continue to thrive and grow by providing much needed high quality affordable housing to this vibrant neighborhood.

Designed by GF 55 Architects, the oversized spacious homes will incorporate sustainable building practices including Energy Star appliances, lighting and high-efficiency plumbing and will be brought to market in early 2012. The buildings will each feature a lobby, elevator and laundry room in the basement exclusive to the residents. The street facades are brick with stone lintels and sills at the upper floors while decorative street-level masonry is flanked by curbside trees and landscaping.

Financing was provided through a variety of capital subsidy programs and grants, including: 9% Low Income Housing Tax Credits (LHTC); HOME Funds monies; a Reso A Grant; as well as conventional loans from the New York City Department of Housing Preservation Development, the Bronx Borough President's Office, First Sterling Financial, Inc., The Bank of New York Mellon and Community Preservation Corporation.

The event will take place at 1434-1438 Morris Avenue, Bronx on Tuesday, August 24, 2010 at 10:00 a.m.

Subscribe to comments feed Comments (0 posted):

Post your comment comment

Please enter the code you see in the image:

  • email E-Mail to a friend
  • print Print version
  • Plain text Plain text
Rate this article
5.00
Image Gallery
Affordable family-sized housing in Melrose, Bronx.
Tags
No tags for this article
Featured Author
image

Peter Milosheff

acquired Bronx.com in March, 2005 and manages the sites content and operations since. Prior to acquiring Bronx.com, Peter worked in the area of corporate finance for Christie's New York, Prada, Pfizer, Deutsche Bank and Fortis Bank. At Moody's Investors Service and Deutsche Bank he worked in the areas of structured products revenue accounting and asset management, respectively. At Fortis Bank he worked in the area of structured credit origination and trading. Peter began his entrepreneurial career at age 17 in Sofia, Bulgaria, EU, where he established his private educational advising agency Endeavour, providing service to local students interested in continuing their education abroad, and particularly in the US. While managing most aspects of Bronx.com's operation and delegating others, he continues his career at a Wall Street financial services company (a major European bank) in the area of flow trading of fixed income derivatives. Peter received a Bachelor of Science in Business Administration degree from Slippery Rock University of Pennsylvania in the Spring of 2002. He graduated Cum Laude with a major in Finance.