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