Construction has begun on an Aufgang Architects designed 100% affordable community that includes supportive housing, located at 1415 Ogden Avenue in the Highbridge section of the Bronx. Total capitalization for the development is $66 million.
The 85 unit Ogden Avenue Theater Apartments will include 51 units of supportive housing for formerly homeless and 34 units for Section 8 residents and those earning at or below 60% of Area Median Income.
NCV Capital and Unique People Services co-developed Ogden Theater Apartments through a public-private partnership with the U.S. Department of Housing and Urban Development, the NYC Department of Housing Preservation and Development and the Department of Mental Health and Hygiene. Financing for the project involves Low Income Housing Tax Credits and HPD’s Supportive Housing Loan Program, as well as private equity.
The Aufgang design for the 100% electric Ogden Theater Apartments meets Passive Housing and Enterprise Green Community Standards. It has a roof-top solar array, variable refrigerant flow HVAC, controlled by residents and a heat pump providing domestic hot water. Other amenities include two elevators, an indoor recreation room, outdoor recreation space, laundry room, bicycle parking and a closed-circuit TV/intercom security system.
“Our design portfolio includes an array of innovative affordable multifamily communities throughout the five boroughs,” said Ariel Aufgang, AIA, Principal of Aufgang Architects. “Ogden Theater Apartments brings much needed affordable and supportive housing to the Bronx.”
“The need for supportive housing is acute throughout New York City, particularly in the Bronx, and with this new affordable development we play a role in finding effective solutions,” said A. Keith Gordon, CEO of NCV Capital Partners.
“We are proud to lead the way with this development of high quality, affordable, sustainable housing in a low-income community. It will improve health outcomes for both our residents and the broader Bronx community” said Yvette B. Andre, Executive Director of Unique People Services.
In the past 22 years Aufgang Architects has designed more than 14,000 units of affordable housing and 20 million square feet of built space. Aufgang Architects is a certified Minority Business Enterprise.
NCV Capital Partners is a Harlem based real estate development and advisory firm engaged in the acquisition, financing, development and management of commercial real estate.
Unique People Services is a nonprofit Bronx based developer of affordable and supportive housing. It has over 32 years of serving special needs populations throughout NYC.
