Catholic Charities is leading a project that will create 126 new affordable homes as housing crisis and inflation continue.
Catholic Charities of the Archdiocese of New York is addressing the housing crisis, with plans to build a new 12-story apartment building with affordable prices. The new complex will be located in the Bronx, a borough of New York City, in the Mott Haven area.
According to Connectcre, a website that tracks commercial real estate endeavors, the Archdiocese has secured $89 million for the construction project. The finished apartment building will stand at 671 Tinton Avenue, where there is now a parking lot for St. Anselm’s Church. The building will create an estimated 126 affordable homes, with 63 of them being units with supportive services, catering to the most vulnerable New Yorkers, such as those with disabilities.
With an eye for maintaining rent at an affordable level for tenants, the units will come with various different pricings in order to accommodate many different levels of income. The plan is to fit the building with “energy-efficient” and “climate-friendly” elements. It will also provide modern amenities such as laundry facilities, a library, a community room, and outdoor recreational areas.
Funding for the project has reportedly come from several areas, including $39.2 million in Federal Low-Income Housing Tax Credits (LIHTC) and $22.6 million in subsidy from New York State Housing Finance Agency (HFA). TD Bank provided a $47.4 million construction loan and Richman Housing Resources is the tax credit syndicator. While the project has yet to announce a completion date, it is expected to bolster the number of affordable homes in New York, where the cost of living continues to increase in the wake of inflation.
This is not the first endeavor by the Archdiocese of New York to install affordable housing within the city. In 2019, Aleteia reported on the archdiocese’s efforts to build apartment complexes on the properties of defunct or demolished churches. One such building, St. Augustine Terrace, exists on the site where St. Augustine’s Church once stood prior to its 2013 demolition. The report, by John Burger, examines similar projects in Brooklyn and Queens.
In 2021, Catholic NY reported on the opening of an affordable housing complex in the Bronx; Cardinal Timothy Dolan was on hand to bless the building. At the event, the NY prelate said of the complex, which had 319 units for rent:
“One of the wonderful, splendid things that Catholic Charities does is that they do things in partnership,” said Cardinal Dolan at the site. “They don’t do it by themselves; they rally great people in an alliance of love and service.
“Remember that He (Jesus) washed the feet of his apostles as a sign of service and love, and solicitude and compassion. His Church continues to wash the feet of people through places like this. Housing and feeding are the works of Jesus, the works of His Church … Peace be with this house and all the good people who live here.”