PROJECTS

1193 Fulton Avenue, Bronx NY                                

1193 Fulton Avenue (Bronx, NY)                               

·       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

·       Construction 100% completed in May 2020 with TCO received and units pre-leased

·       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

·       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)

·       Property tax abatement from NYC under the 420-c program

·       Co-developers Silver Wave Equities LLC (affiliated with Sorani Finance) and Apex Building Group are certified MBEs (Minority-Owned Business Enterprises)