Tiffany Court, a new 151-unit affordable housing property recently debuted at 980 Westchester Avenue in The Bronx. The property is located in Foxhurst, residential micro-neighborhood that borders the Bronx River, the Bruckner Expressway, and Morrisania.
Developed by The Doe Fund and Bolivar Development with support from New York City’s Housing Development Corporation (HDC) and the Department of Housing and Preservation Development (HPD). The project was just awarded a Temporary Certificate of Occupancy.
“New York City faces many obstacles to its pandemic recovery, from dirty streets to rising homelessness and a lack of affordable housing,” said John McDonald, executive vice president of housing at The Doe Fund. “More people experience homelessness on our streets and in our subway than ever before. It’s critical we develop housing that delivers the services these individuals and families need to live with dignity. Tiffany Court Plaza shows The Doe Fund’s commitment in action — the commitment to a safer, fairer, more livable NYC.”
Designed by GF55 Partners, the building is expected to achieve LEED Gold certification. Tiffany Court’s mix of units includes 47 studios, 64 one-bedroom units, 22 two-bedroom units, and 17 three-bedroom units, as well as a two-bedroom unit for a live-in superintendent.
The Doe Fund will provide supportive services to 31 units, including substance abuse counseling, comprehensive case management, career training, and continuing education. Supportive tenant rents and program expenses were secured by an award from the NYS Empire State Supportive Housing Initiative.
The remaining units will be rented through a lottery conducted by The Doe Fund via NYC Housing Connect.
All residents will have access to a large communal lounge, a landscaped outdoor terrace, on-site laundry facilities, a computer room, and bike storage.
In addition to a residential lobby, the first floor of the building will house a 25,000-square-foot retail volume. The commercial tenants have not yet been announced.
Total project costs hover around $71.6 million funded through a mix of public and private funding. This includes federally tax-exempt HDC bond and a second mortgage through HDC’s Extremely Low & Low Income Affordability Program. Additional public funding includes HPD subsidies and four percent low-income housing tax credits via Boston Financial Investment Management and their investor, Webster Bank.
Other funding sources include Chase Bank, a Federal Home Loan Bank of New York grant, and New York City Council discretionary funds from Bronx Councilman Rafael Salamanca, Jr. and former City Council Speaker Corey Johnson.