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Affordable Housing in the Bronx

January 16, 2017 
By Dr. Leonard H. Golubchick LaborPress Entertainment Editor

Bronx, NY – The start of construction on Bronx Commons – a 426,000 square foot, mixed-used development in the Melrose section of the Bronx has been announced by New York City.

The project will include 305 affordable apartments, retail space, and a large Bronx Music Hall. The project received financing through the City’s Mix and Match program and received a special line of funding from the City’s Our Space program.

“As we build more and more needed affordable housing, there is no finer tribute to New York’s deep artistic history than including a music hall in this Bronx development. The projects will transform long-vacant City land into a vibrant cultural mecca and residential community for the borough and the City,” said Mayor Bill de Blasio.

Bronx Commons units will be affordable to homeless individuals and families exiting the shelter system, individuals and households with annual household income ranging from $22,032 for a household of three to $89,760 for a household of three. The project will transform long-abandoned, city-owned land — the final undeveloped parcel of the Melrose Commons Urban Renewal Area — into a  center for living, working, learning, shopping and entertainment.   The development’s creative financing  includes  Low Income Housing Tax Credit (LIHTC) equity along with public and private grants to create unique non-residential spaces – in addition to badly-needed affordable housing.

“As we create and preserve affordable housing at record pace, we aren’t just helping people, we are building better neighborhoods,” said HPD Commissioner Vicki Been.  “Bronx Commons represents exactly the kind of dynamic, mixed-use development that Mayor de Blasio envisioned in Housing New York.  The 305 affordable apartments will serve New Yorkers at a range of incomes, while also providing a cultural hub for the Melrose community with open space, quality retail, and a new music venue on land that had long been abandoned.  I want to thank our colleagues at HDC and HCR and our partners at WHEDco and BFC for the hard work and vision that went into this dynamic project.”

January 16, 2017

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