PROJECTS
1193 Fulton Avenue, Bronx NY
1193 Fulton Avenue (Bronx, NY)
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Located in the Morrisania neighborhood of the Bronx, 1193 Fulton Avenue is a 25,489 S.F. affordable housing development with 25 residential units and six parking spaces
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Construction 100% completed in May 2020 with TCO received and units pre-leased
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8 units for veterans (Section 8 vouchers), 12 low-income units (57% of AMI), and 4 moderate-income units (80% of AMI)
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Additional project amenities include outdoor recreational areas, bicycle parking, laundry facility and on-site superintendent
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Green initiatives including energy efficient boiler and HVAC systems, enhanced insulation and energy star appliances
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Project funded with 9% Low Income Housing Tax Credits (LIHTCs), conventional mortgage financing (JP Morgan Chase) and support from NYC’s Department of Housing Preservation and Development (HPD)
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Property tax abatement from NYC under the 420-c program
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Co-developers Silver Wave Equities LLC (affiliated with Sorani Finance and Norsalin Real Estate) and Apex Building Group are certified MBEs (Minority-Owned Business Enterprises)
2800 West Diamond Street, Philadelphia PA (Currently in Development)
Philadelphia Affordable Housing
​ 2800 West Diamond Street (Philadelphia, PA )
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~50,000 S.F. development in Strawberry Mansion near Fairmount Park with 46 residential units, 23 parking spots and 16 bicycle spaces​
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Financing sources are preliminary and subject to change
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Land acquired in partnership with Philadelphia Accelerator Fund
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Zoning and construction permits in-place (shovel-ready project)
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Additional project amenities include green roof, multi-purpose lounge and convenient in-unit washers & dryers
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Energy-efficient HVAC systems and appliances; compliance with PHA’s Housing Choice Voucher (HCV) quality requirements
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