New supportive housing development opens in The Bronx.
Located at 507 East 176th Street in the East Tremont section, Vicinitas Hall is a new 68-trait development with a priority for young working adults and those aging out of the foster care system.
Built under Mayor Michael R. Bloomberg's New Housing Marketplace Plan, Vicinitas Hall will offer young people-safety and stability, according to Mathew M. Wambua, Commissioner, HPD. "I thank ... all of our partners who have helped to make this day a reality."
The construction and operation of Vicinitas Hall provided an economic boost for the community. It was constructed with materials purchased from local businesses, including Crystal Windows in Queens and Bronx-based Jenna Concrete, among others.
The building was designed by OCV Architects and constructed by Bayview Real Estate Consultants, Inc. At the peak of construction, up to 70 jobs had been created; and 13 permanent jobs have been added in the form of full-time social service staff members, front desk security guards and maintenance staff.
The total development cost for Vicinitas Hall was approximately $15.9 million. HPD provided more than $8 million toward the project, including more than $7 million through its Supportive Housing Loan Program (SHLP), and $1 million in American Recovery and Reinvestment Act (ARRA) Tax Credit Assistance Program (TCAP) funds.
OTDA provided $3.1 million through its Homeless Housing Assistance Program (HHAP). The project also utilized $4.7 million in Low-Income Housing Tax Credits. Predevelopment financing was provided by the Corporation for Supportive Housing.
The project was developed by the Lantern Group whose CEO Alissa Kampner Rudin said, "The building is an amazing addition to this vibrant community, but it's more than just a place to live.
"We provide a full range of supportive services to help our young adult tenants prosper as they begin a new chapter in their lives. We look forward to welcoming people to the property, which is another example of the quality, affordable housing that is synonymous with Lantern."
The seven-story, 41,000 s/f building has community space on the cellar level, it was built on a former parking lot and includes recreation rooms, a landscaped rear yard, 24-hour security desk and offices for case management staff.
The building's community rooms are available to local neighborhood groups and organizations for meetings and events.
Young adults ages 18-21, who have aged out of foster care and are referred by the NYC Administration for Children's Services (ACS), will be given a preference for forty-one of the sixty-eight furnished studio apartments. For these young adults, moving into Vicinitas Hall is an important first step towards stable, independent living.
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|Comment:||New supportive housing development opens in The Bronx.|
|Publication:||Real Estate Weekly|
|Date:||Jan 25, 2012|
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