February 28, 2011
145 independent apartments for elderly and/or physically handicapped persons with low incomes
Architect: RedTop Architects LLP General Contractor: Galaxy General Contracting Corp. Major Funders: NY Acquisition Fund, NYC Department of Housing Preservation and Development, NYC Housing Development Corporation, Chase Bank and National Equity Fund
Project-Based Section 8 Contract
On February 28, 2011 WSFSSH became the owner of Borinquen Court, a 145-unit HUD- sponsored apartment building for older people and/or people with physical disabilities located in the Mott Haven neighborhood in the Bronx. Three years earlier, the building’s Tenants’ Association had begun the struggle to get responsible and responsive management for their building. Conditions had become so bad that HUD placed the building into foreclosure to force a change in ownership. The Tenants’ Association interviewed a number of non-profit housing providers and visited sites these organizations managed. WSFSSH was deeply honored to be selected as their choice. After taking ownership WSFSSH made a number of improvements to the building in order to bring the apartments into HUD compliance and upgraded the heating plant through funding from the NYS Weatherization Assistance Program. WSFSSH chose to make improvements that went above-and-beyond the HUD standards and closed on approximately $12 million in financing in June, 2012. After completing construction in February, 2015, Borinquen Court now has new windows, new roof, refurbished hallways, new kitchens in every unit and renovated community space, as well as a stabilized foundation and a variety of energy efficiency measures. Funders include the New York City Department of Housing Preservation and Development, the New York City Housing Development Corporation, the National Equity Fund, Chase Bank, LISC and NYSERDA. The project is also participating in the New York State Department of Environmental Conservation’s Brownfield Cleanup Program.