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Groundbreaking Ceremony For Bronx Affordable Housing Complex

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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.

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Affordable family-sized housing in Melrose, Bronx.
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Peter Treadway, PhD

is an independent consultant and money manager and Adjunct Professor in Asia. He is currently is principal of Historical Analytics, LLC. Historical Analytics is a consulting/investment management firm dedicated to global portfolio management. Its investment approach is based on Dr. Treadway’s combined top-down and bottom-up Wall Street experience as economist, strategist and securities analyst. A monthly letter entitled The Dismal Optimist is produced for clients. Dr. Treadway also serves in a part time capacity as Chief Economist, C T RISKS, a new Hong Kong company that will assist Asian financial institutions with their risk management problems. On the educational front, Dr. Treadway has developed a special Masters level course focusing on securities analysis and discounted cash flow and incorporating elements of standard equilibrium pricing models, behavioral finance and historical trends. This course has been given as Adjunct Professor at the Shanghai University of Finance and Economics (SUFE) and the City University of Hong Kong. From 1965-2000 Dr. Treadway had a distinguished career on Wall Street and with major American financial institutions. For example, from 1978-1981 he served as Chief Economist at Fannie Mae. From 1985-1998 he served as institutional equity analyst and Managing Director at Smith Barney following savings and loans and government sponsored entities(GSEs). He was ranked as “all star” analyst eleven times by Institutional Investor Magazine. Dr. Treadway holds a PhD in economics from the University of North Carolina at Chapel Hill, an MBA from New York University and a BA in English from Fordham University in Bronx, New York.