August 6, 2019
Officials from city housing agencies joined Foxy Management, Hebrew Home at Riverdale, Alembic Community Development and project partners Monday to celebrate the completion of 1880 Boston Rd., a 168-unit affordable senior development in the Bronx’s West Farms neighborhood. The newly- constructed addition to an existing building contains apartments for low-income and formerly homeless seniors.
“This project exemplifies the successful collaboration between government, the non-profit sector and private business to serve a major need in the community – housing and caring for low-income and homeless seniors,” said Jeff Fox, principal of Foxy Management.
The development was financed in part with funding from city-backed low-income housing development programs totaling about $60 million. Raymond James acted as the tax credit syndicator and provided a combined investment of $34.8 million in federal tax credit equity. TD Bank provided a $38-million credit enhancement for the tax-exempt bonds through its Commercial Real Estate Group.
Connect Texas Multifamily will take place August 15, 2019 in Dallas. For more information, or to register, click here.
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