Project Description
The project sponsor, 2700 Jerome Avenue Partners LLC, is seeking construction financing from HPD to facilitate the development of a new affordable housing building in the Kingsbridge Heights neighborhood of the Bronx, Community District 7. The proposed project would be developed through HPDs Extremely Low and Low-Income Affordability (ELLA) program. The project site is privately owned and located at 2700 Jerome Avenue (Block 3317, Lot 17), just south of the intersection of Jerome Avenue and West 195th Street. The block upon which the project site is located is generally bounded by East 196th Street to the north, Jerome Avenue to the west, East Kingsbridge Road to the south, and Morris Avenue to the east. The site measures approximately 19,500 square feet in area, and is currently vacant. With the requested funding, the project site would be developed with a new, 13-story building, measuring approximately 124 feet tall and containing 137 units of affordable housing, with some units set aside for homeless families that would be provided supportive services. The building would also contain 1,140 gross square feet of retail use and 27 accessory parking spaces. The proposed project would be constructed in conformance with the requirements of the existing R8/C2-3 zoning district regulations and would help address the continuing need for affordable housing in New York City. According to the Environmental Assessment Statement (EAS), the proposed project is expected to be completed and occupied by 2018 with an anticipated construction period of 24 months. Absent the proposed action, a building substantially similar to the proposed project will be constructed, with the same number of units; however, those units will be market rate.
