Project Description
The Project Applicant, Woodlawn Affiliates LLC, is seeking construction financing from New York City Department of Housing Preservation and Development (HPD) to facilitate the development of a new affordable senior housing building in the Woodlawn neighborhood of the Bronx, Community District 12 ('Proposed Action'). The requested funding would provide for a total of 80 units of affordable housing (including one superintendent unit) on a privately-owned property in a new four-story (40 feet) building. The 23,356 Project Site is comprised of four parcels located at 69, 81, 83, and 85 East 233rd Street ('Project Site;' Bronx Block 3365, Lots 63, 64, 65 and 71) and is situated on the north side of East 233rd Street between Napier Avenue to the west and Oneida Avenue to the east. Under the Proposed Action, the Project Site would be redeveloped with a new, 51,995 gross square foot (gsf) senior residential development developed as an Affordable Independent Residence for Seniors (AIRS). The 79 affordable units (plus one superintendent unit) would be targeted to moderate and low income seniors with 63 units targeted to incomes below 50% of area median income (AMI) and 16 units at up to 80% of AMI. The proposed project will include 59 studio apartments, 20 one-bedroom apartments, and 1 superintendent's unit. The building will have a laundry room, 2,248 square feet of community meeting space for residents, 7,725 square foot open space and garden at the rear of the building and be built to passive house standards. The proposed project also includes the development of an 11-space surface parking lot and 3,264 square foot active-design greenspace for building residents located on an off-site parcel at 63 East 233rd Street, (Bronx Block 3365, Lot 79), one lot down from the Project Site. In addition to city capital funding from HPD, the Applicant is also requesting construction financing from HPD's Senior Affordable Rental Apartments (SARA) program which utilizes a combination of tax-exempt bonds issued by New York City Housing Development Corporation (HDC), 9% as-of-right Low Income Housing Tax Credit (LIHTC) equity, deferred developer fee and a Sponsor loan, originating from a 501(c)(3) entity. The proposed project would be developed in conformance with the requirements of the existing R5 zoning district regulations and would help address the continuing need for affordable housing in New York City. The proposed project is expected to be completed and occupied by 2021.
