916, 920, 924, 928 & 935 Kelly Street, Bronx NY

• 81 low-income units, 5 buildings
  

• Status: Completed Spring 2013
  

• Buildings were severely distressed; upon acquisition 3 out of 5 buildings were in HPD’s Alternative Enforcement Program 
  

• Permanent  & Construction Financing: NYC Employee Retirement System, Morgan Stanley, JP Morgan Chase loan, HPD loan (Participation Loan Program), HUD NSP Funds -- NEF Tax Credit Equity

• Development Partners: Banana Kelly Community Improvement Association, Inc. and Monadnock Construction
  

• Amenities: community garden, green roof and gray-water filtration system in partnership with GrowNYC
  

• Programs: Kelly Street Garden, Kelly Street Initiative in collaboration with The Laundromat Project, and additional programs with Banana Kelly Community Improvement Association, Inc. and other local organizations
  

In the news:

• Kelly Street Garden Wins Innovative Initiative Award from Real Food Media (Real Food Media, May 2, 2016)
  
• New Garden in the Bronx 'Creates a Community' (Wall Street Journal, June 18, 2014)
• Rennovations and Hope on a Block Once Marked by Blight
  (New York Times, April 5, 2013)
  
• Kelly Street Garden: One of 11 NYC Green Infrastructure Grant Program Winners(OCV Architects Press Release, April 30, 2012)
  

WFHA Brooklyn Cluster | Brooklyn, NY

539 & 541 East 147th Street Bronx, NY

• 21 low-income units, 2 buildings
  

• Status: Completed January 2015
  

• Substantial rehab
  

• Buildings were severely distressed and had been in various rounds of HPD’s Alternative Enforcement Program
  

• Lender: Community Preservation Corporation
  

• Financing: Bank loan, HPD loan
  

• Not for Profit Partner: Urban Homesteading Assistance Board
  

In the news:

• CPC, Citi Announce $250M Facility to Finance Affordable Housing (Commercial Property Executive, March 13, 2013)
  

2629 Sedgwick Avenue, Bronx NY

• 30 market-rate units, 1 building
  

• Status: Systems work completed
  

• Lender: NYC Housing Development Corporation (HDC)

• ​Non-profit partner: Urban Homesteading Assistance Board
  

In the news:

• Program Aims to Reduce Energy Costs and Keep Rents Affordable in Bronx (New York Times, April 26, 2015)

St. Albans | Queens, NY

114-05 170th Street, Queens, NY

• 71 units; 1 building

• Status: Building stabilization underway

• Rehab type: Moderate rehab

• ​​Not-for-profit partner: Urban Homesteading Assistance Board
  

• Lender: NYC Distressed Multifamily Fund
  

2629 Sedgwick Avenue | Bronx, NY

2239, 2241, 2323 & 2333 Creston Avenue, Bronx, NY

• 120 low-income units, 4 buildings
  

• Status: Completed May 2015
  

• Substantial rehab
  

• Buildings were severely distressed and had been in various rounds of HPD’s Alternative Enforcement Program​

• Permanent & Construction Financing:  NYC Housing Development Corporation, Morgan Stanley, JP Morgan Chase, NYC HPD , NEF Tax Credit Equity ​
  

• Not for Profit Partner: New York City Housing Partnership

In the news:

• 4 distressed Bronx buildings to get $28.6m rehab
  (Crain's New York, June 26, 2013)
  
• Buildings on Creston Ave in University Heights to get makeover from Workforce Housing Advisors
  (Bronx News 12, July 18, 2013)
  

1520 Sedgwick Avenue | Bronx, NY

     Our Properties

1380 University Avenue | Bronx, NY

581 East 164th Street | 635 East 169th Street | 
797 East 170th Street | 915 Prospect Avenue
3318, 3414, 3416 Third Avenue |
3414, 3416, 3428, 3430 Park Avenue

• 101 units; 11 buildings

• Status: Stabilized

• Rehab type: Moderate rehab

• ​​Not-for-profit partner: Urban Homesteading Assistance Board
  

• Lender: Community Preservation Corporation
  

Linden Boulevard | Brooklyn, NY

936 Home Street | 1146 Bryant Avenue |

1159 Fox Street |1160 & 1163 Hoe Avenue |

1166 Simpson Street | 1208 Southern Boulevard

• 109 units; 7 buildings

• Status: Stabilization underway

• Not-for-profit partner: Urban Homesteading Assistance Board
  

• Lender: NYC Distressed Multifamily Fund
  

539-541 E. 147 Street | Bronx, NY

Home Street | Bronx, NY

Park Avenue | Bronx, NY

Creston Avenue | Bronx, NY

Kelly Street | Bronx, NY

1380 University Ave, Bronx NY

• 139 low-income units
  

• Status: Completed May 2017
  

• Severely distressed
  

• Substantial rehab
  

• Lender: NYC Housing Development Corporation (HDC)
  

• Permanent and Construction Financing: NYC HDC, Morgan Stanley, JP Morgan Chase, NEF Tax Credit Equity
  
• Not for Profit Partner: Urban Homesteading Assistance Board
• Planned amenities: community room, playground and recreational space
  

In the news:

• Brick By Brick: City, Private Developers Step In to Protect, Maintain Affordable Housing (NY1, August 28, 2014)
  

55, 57, 61 Ravine Avenue, Yonkers, NY 
62, 68, 74 Warburton Avenue, Yonkers, NY 
2-8 Hudson Street, Yonkers, NY
2 Main Street, Irvington, NY

• 139 units; 8 buildings

• Status: 99% complete

• Rehab type: Moderate rehab

• Construction Financing: JPMorgan Chase letter of credit,
  

• NYS Housing Finance Agency (HFA) loan, 4% tax credits,
  ​NYS Attorney General funds

• ​Not-for-profit partner: Urban Homesteading Assistance Board
  

Contact Us

1520 Sedgwick Ave, Bronx, NY | ​“Birthplace of Hip Hop”

• 102 low-income units
  

• Status: Completed Fall 2013
  

• Moderate rehab
  

• Construction & Permanent Financing : NYC Employee Retirement System, Morgan Stanley, CPC, NYC HPD Loans, Reso-A Loan from Council Member Helen Foster and NSP
  

• Not for Profit Partner: Urban Homesteading Assistance Board
  

• Amenities: community room, playground, elevated outdoor terrace

In the news

• Tenants Return to Rehabbed, Preserved Birthplace of Hip Hop (Rooflines.org, October 22, 2013)
  
• Hip-hop Legend Lends Needed Hand for Morris Heights Building (NY Daily News, September 27, 2013)
  
• For Birthplace of Hip Hop, New Life
  (New York Times, November 7, 2011)
  

Copyright © Workforce Housing Group. All rights reserved.

2229, 2237, 2245, 2251 & 2259 Dix Avenue, Queens, NY

• 130 units; 5 buildings

• Status: Building stabilization underway
  

• Lender: NYC Distressed Multifamily Fund

• ​Not-for-profit partner: Urban Homesteading Assistance Board
  

Dix Avenue | Queens, NY

46, 50 & 54 Linden Boulevard, Brooklyn, NY

• 48 units; 3 buildings

• Status: Building stabilization underway
  

• Lender: NYC Distressed Multifamily Fund

• ​Not-for-profit partner: Urban Homesteading Assistance Board
  

Westchester Cluster | Yonkers, NY & Irvington, NY