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. In addition the heating plant was upgraded through funding from the NYS Weatherization Assistance Program. However, because the building needed significant structural repairs as well as aesthetic renovations WSFSSH worked to pull together a financing package that is allowing for ten million dollars in improvements. In June 2012 WSFSSH closed on this financing and renovations have started. When the project is completed in late 2013, the building will have new windows and a new roof, refurbished hallways, new kitchens in every unit and renovated community space. In addition the foundation is being stabilized and a variety of energy efficiency measures are being put in place.
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.