Bronx Pro has been selected by the Hawaii Community Development Authority as the developer of an affordable housing project in the Kaka’ako neighborhood of Honolulu. Nohona Hale is being developed in partnership with EAH Housing, a local non-profit company. Nohona Hale is expected to include 111 units and rise 16 floors.
Bronx Pro Group (BPG) and Precise Management formed a joint venture to substantially renovate 6 buildings located in Harlem that upon completion of the renovation will contain 125 units. An affiliate of BPG will be the managing member of the joint venture through the 15-year tax credit compliance period. Three of the buildings were owned by The New York City Housing Preservation and Development (“HPD”) and two of the buildings were owned by the non-profit Neighborhood Restore. During construction the tenants were relocated within the portfolio and will return to either their existing units or new units upon construction completion. The project is expected to have a 38-month construction which allows for the buildings to be renovated in 2 Phases.
The proposed project is located at 1017 Home Street in the Foxhurst section of the Bronx, NY. The property consists of a 9,421 square foot development site currently occupied by a dilapidated, two-story church. The proposed development will transform 1017 Home Street into an 8 story, newly constructed senior housing project. The project will be financed through the New York City Senior Affordable Rental Apartments (SARA) Program, 9% Low Income Housing Tax Credit (LIHTC) equity and a bank loan.
The proposed development includes 64 units of housing along with 8 on-grade parking spaces and 3,003 square feet of first floor community facility space. The project design meets LEED Gold standard and includes many energy efficient features. The residential amenities include a lounge, gym, bike room, roof terrace, tenant storage and on-site laundry The unit mix includes a two-bedroom superintendents unit, forty-five (45) studios and eighteen (18) one-bedrooms that will be rented to Seniors aged 62 and over with incomes up to 60% of the area median income. Thirty percent of the units will be reserved for homeless seniors referred by a City or State agency.