Dunn Development Corp. Secures Financing for 100-Percent Affordable Housing Development at 880 East 147th Street in the South Bronx

Rendering of Austin 147 (SLCE Architects)Rendering of Austin 147 (SLCE Architects)

Dunn Development Corp. recently secured $37 million in construction financing for Austin 147, an 80-unit supportive and affordable housing block at 880 East 147th Street in the Mott Haven neighborhood of the South Bronx. CAMBA, a Brooklyn-based nonprofit organization, will provide supportive services to the clients who reside in the building after it’s completed. The new property is expected to debut by summer 2021.

The 11-story building is designed by SLCE Architects, which also revealed renderings of the project earlier this month. The illustrations reveal a simple façade comprised of brick and cementitious elements. Within, the building will support both low- and moderate-income families, with 40 of the property’s units dedicated to formerly homeless adults and families with special needs.

The supportive housing will be restricted to households earning less than 50 percent of the area median income (AMI), with tenants contributing no more than 30 percent of their income toward rent. The New York State-funded Empire State Supportive Housing Initiative will cover the remaining balance on these specific units. The final remaining apartments at Austin 147 are designated for households and individuals with incomes between 38 percent and 74 percent AMI.

“An integral part of the mayor’s ambitious housing plan is creating affordable housing that’s paired with critical supportive services that some of the most vulnerable New Yorkers need to thrive,” said NYC Housing Preservation and Development commissioner Louise Carroll. “Austin 147 will bring 80 much-needed affordable homes to the Bronx, 16 of which will be affordable permanently through the administration’s bold Mandatory Inclusionary Housing policy.”

Occupants will have access to amenities including a community room, a computer room and library, a fitness center, an outdoor garden and patio, a children’s play area, and an outdoor, landscaped roof terrace, as well as on-site social services.

“Austin 147 will not only provide deeply and broadly affordable housing along with on-site support services, but the building will be a beautiful and highly visible addition to the Bronx skyline,” said Martin Dunn, president of Dunn Development Corp. “We’re thrilled to work with HCR and HPD to develop a project that will positively impact so many people.”

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3 Comments on "Dunn Development Corp. Secures Financing for 100-Percent Affordable Housing Development at 880 East 147th Street in the South Bronx"

  1. John Cavanaugh | August 27, 2019 at 9:14 am | Reply

    When completed, will the building be listed with Housing Connect? Please advise. Thank you.

  2. You can always count on our Democratic politicians to use taxpayer monies to artificially depress the median income of the Bronx.

  3. Ashley Zacatelco | September 30, 2019 at 5:17 pm | Reply

    Is this building for rent or for sale?

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