PROJECTS
1193 Fulton Avenue, Bronx NY
Located in the Morrisania Section of the Bronx , NY 1193 Fulton Avenue is 25,489 S.F. development 25 residential units
8 units for veterans (Section 8 vouchers), 12 low-income units (57% of AMI), and 4 moderate-income units (80% of AMI)
Additional project amenities include outdoor recreational areas, bicycle parking, laundry facility and on-site superintendent
Green initiatives including energy efficient boiler and HVAC systems, enhanced insulation and energy star appliances
Co-developers Sorani Finance and Apex Building Group are certified MBEs (Minority-Owned Business Enterprises)
Overview of Project Financing
Project funded with 9% Low Income Housing Tax Credits (LIHTCs), conventional mortgage financing and NYC’s Department of Housing Preservation and Development (HPD) subsidized financing
Property tax abatement from NYC under 420-c program