HDC to pay for South Bronx building rehabilitation.The New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Housing Development Corporation agreed to finance the rehabilitation rehabilitation: see physical therapy. of two apartment houses built in 1925 in what is now the Grand Concourse Historic District in the South Bronx. The six-story buildings, located at 1290 and 1326 Grand Concourse, between East 169th Street and Marcy Place, contain 104 apartments, all of which are occupied by working class families. The Housing Development Corp. will issue a new mortgage loan of $3.68 million to be repaid over 24.5 years or less. By purchasing the buildings' existing HDC (Hard Disk Controller) See disk controller. HDC - Disk Controller mortgage of $1.6 million and issuing the new mortgage at a lower interest rate, HDC will provide money to the buildings owner, B&L Concourse Housing, to make needed substantial renovations. Repairs to be done include roof work, elevator improvements, brick repointing Repointing is the process of renewing mortar joints in masonry construction. Over time, weathering and decay causes voids in the joints between masonry units allowing the undesirable ingress of water. , repairs to side walks, and upgraded kitchen cabinets, counter tops and sinks, ranges and refrigerators and bathroom fixtures, and new apartment flooring and new doors. Built in 1925, when the Grand Concourse was viewed as the premier place to move for the middle class, the buildings had been abandoned by the early 1980s. In the mid 1980s, they were rehabilitated by the NYC NYC abbr. New York City NYC New York City Housing Development Corp. working in conjunction with the New York City Department of Housing Preservation and Development using money from a Federal Housing Grant. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion