Prospect & Westchester Apartments
The Bronx (Longwood)
Acquired adjacent City-owned land through the NYC ULURP process. Recently renovated to bring to modern energy standards including solar roof array.
YEAR COMPLETED:
Construction completed in 2007 (Westchester) and 2009 (Prospect). Foxy successfully repositioned both of these assets including the buyout of its LIHTC investor in 2022.
PARTNERS:
M. Melnick & Co., NAICA
TOTAL DEVELOPMENT COST:
$50 MM
GROSS SQUARE FOOTAGE:
227,615 gsf
UNIT COUNT/MIX:
194 Affordable Family Units Plus 2-unit Commercial Condo Plus 2 Community Facility Units. 30% Homeless Set-aside.
FINANCING PROGRAM:
HDC LAMP / HPD MIRP
ARCHITECT:
SLCE Architects
GENERAL CONTRACTOR:
M. Melnick & Co.
FINANCE TEAM:
NYC HDC, NYC HPD, Boston Financial Investment Management