FOR IMMEDIATE RELEASE: December 29, 2020
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NYCHA FINALIZES DEAL TO CONSTRUCT 182 UNITS OF AFFORDABLE HOUSING IN THE BRONX
Twin Parks Terrace will provide 182 units of affordable housing in Fordham Heights
New York – The New York City Housing Authority (NYCHA), New York City Department of Housing Preservation and Development (HPD) and the Housing Development Corporation (HDC) announced today the closing of Twin Parks Terrace, which will result in the creation of 182 units of affordable housing in the Bronx on NYCHA-owned land. Construction is anticipated to start in January 2021.
Twin Parks Terrace is a new construction project which will consist of 181 affordable rental units and one superintendent unit on Webster Avenue between East 183rd Street and East 184th Street in the Fordham Heights section of the Bronx. The project site is currently a parking lot adjacent to the Twin Parks West Houses development, which underwent a conversion in 2018 through NYCHA’s Permanent Affordability Commitment Together (PACT) program.
“Today’s announcement is just the latest example of the Authority’s commitment to creating affordable housing at a time when communities across New York City have a dire need for it,” said NYCHA Executive Vice President for Real Estate Development Jonathan Gouveia. “We look forward to working with our many partners to make this exciting project a reality.”
“Twin Parks Terrace will create an inclusive housing community, bringing to Fordham Heights 182 amenity-rich affordable homes for families living on low- to moderate-incomes.” said HPD Commissioner Louise Carroll. “This Administration is deeply committed to transforming the City’s available public land into affordable housing with projects that bring services and investment to communities. We are proud to partner with NYCHA, HDC, the Settlement Housing Fund and Joy Construction on advancing Twin Parks Terrace to the next stage.”
"Congratulations to NYCHA, HPD, and our partners, on financing the construction of 182 new affordable homes," said New York City Housing Development Corporation President Eric Enderlin. "Twin Parks Terrace and its neighbor Twin Parks West demonstrate the holistic approaches we are taking to bring lasting change to our city under the Housing New York and NYCHA 2.0 PACT plans. This transformative development will benefit the Bronx community for generations."
The 14-story, 182-unit Twin Parks Terrace project was designed by Danois Architects and will be developed by Settlement Housing Fund and Joy Construction. The project includes 41 studio apartments, 77 one-bedroom apartments, 56 two-bedroom apartments, and 7 three-bedroom apartments as well as one superintendent unit. Additionally, there is 10,489 gross square feet of commercial space and 1,883 gross square feet of community facility space. Social services will be provided by BronxWorks. The residential units will be affordable to residents from 30% to 80% of the Area Median Income (AMI), with 46 units set aside for homeless households. NYCHA residents will be given preference for 34 of the total units available.
Amenities for this project include a laundry room, outdoor playground, meeting rooms, children’s playroom, recreation room, fitness room, and bike storage. Solar photovoltaic panels will be positioned on the roof. The project also boasts a mural partnership with Groundswell, a group that implements a community process to design a mural focused on a social justice issue with a local artist. The mural will be painted by neighborhood children. The development team will work with BronxWorks to train NYCHA residents in relevant construction skills and hire residents throughout the construction process.
Financing for this $81 million Low Income Housing Tax Credit (LIHTC) project includes bond financing from HDC, $15.6 million in subsidy from HPD’s Extremely Low & Low-Income Affordability (ELLA) program, and Reso A funds in the amount of $1 million from Council Member Ritchie Torres and $500,000 from Bronx Borough President Ruben Diaz Jr.
About the New York City Housing Authority (NYCHA)
The New York City Housing Authority is the largest public housing authority in North America, housing nearly 400,000 residents. NYCHA’s mission is to increase opportunities for low- and moderate-income New Yorkers by providing safe, affordable housing and facilitating access to social and community services. Over 390,000 New Yorkers reside in NYCHA’s 316 public housing developments and PACT developments around the five boroughs. Over 190,000 receive subsidized rental assistance in private homes through the NYCHA-administered Section 8 Leased Housing Program. For more information, visit www.nyc.gov/nycha, and for regular updates on NYCHA news and services, connect with us via www.facebook.com/NYCHA and www.twitter.com/NYCHA.