Mayor Adams and Governor Hochul launch construction of 103 affordable housing units

July 20, 2022

$55 million mixed-use affordable housing project will serve low-income, formerly homeless New Yorkers in the Mount Hope neighborhood

The project reflects the goals of Mayor Adams’ “Housing Our Neighbors” master plan and builds on the largest affordable housing investment in the city’s history

NEW YORK – New York City Mayor Eric Adams and New York Governor Kathy Hochul today announced the start of construction on a $55 million affordable housing development in the Mount Hope section of the Bronx. Known as Mount Hope Walton Apartments, the new development will include 103 affordable housing units for low-income New Yorkers — including 16 for those who have previously experienced homelessness — and a 9,500 square foot community gymnasium.

“We are making record investments in truly affordable housing, and this project will ensure New Yorkers from 103 households have a safe, clean place to rest at night,” said Mayor Adams. “We are contributing our resources to address the city’s affordable housing crisis, from financial resources to city-owned land, and our close partnership with Governor Hochul ensures that we ‘Get Stuff Done’ for New Yorkers. »

“Every New Yorker deserves affordable, high-quality housing, and this new subdivision is part of my administration’s commitment to increasing the supply of high-quality housing in the Bronx,” said Governor Hochul. “This $55 million mixed-use development will improve the neighborhood, improve the lives of its residents and strengthen the community they inhabit. By joining forces with Mayor Adams, we are ensuring that everyone in New York has the dignity of a roof over their head.

The Mount Hope Walton Apartments reflect the goals of Mayor Adams’ Housing Our Neighbors plan to bring New Yorkers to safe, high-quality and affordable housing. The city’s first housing plan to cover the full range of housing needs and options for New Yorkers, the plan builds on Mayor Adams’ $22 billion commitment to affordable housing, the largest investment of this type in the history of the city.

The new development will be built adjacent to the existing Mount Hope Community Center on Walton Avenue. The community gymnasium will include a fitness center and a regulation size basketball court for high school games. The space will be leased to a nonprofit operator for nominal rent, with programming available to residents and the community.

The upper floors of the building will consist of a mix of one, two and three bedroom apartments. The 103 apartments are affordable for households with an income equal to or less than 80% of the region’s median income. Sixteen apartments will be reserved for homeless families.

Additional residential facilities will include a laundry room, two indoor recreation rooms, an outdoor recreation area and bicycle storage.

The developers are Procida Development Group, LLC and Mt. Hope Housing Corporation.

The city’s support for the project includes $15.8 million from the New York City Department of Housing Preservation and Development (HPD) through the Mix and Match program. The New York City Economic Development Corporation (NYCEDC) also donated city-owned land to Mount Hope Housing for development. State funding for Mount Hope Walton Apartments includes low-income tax credits that will generate $23 million in equity and $2.6 million in grants from New York State Homes and Community Renewal (UNHCR). The New York City Council and the Bronx Borough President provided $2.25 million in combined Reso A funding. Additional funding is provided by Webster National Bank.

“Mixed-use, community-oriented housing developments are key to addressing our housing shortage while preserving neighborhoods for long-term residents, which is at the heart of ‘Housing Our Neighbours’, a master plan to citywide for housing and homelessness,” said Jessica Katz, New York Housing Manager. “These 103 new affordable apartments and new gymnasium will strengthen the Mount Hope neighborhood, help our homeless neighbors and better support current and future residents of the community. Congratulations to everyone involved.

“New York City’s Comprehensive Housing Plan prioritizes the creation of affordable housing that can also provide amenities that meet community needs. Mount Hope Walton Apartments will bring 103 affordable housing units to the Mount Hope neighborhood, as well as a community gym with programs for residents and their neighbors,” said Commissioner HPD Adolfo Carrión Jr. “Congratulations to Mount Hope Housing Company and Procida Companies for breaking ground on this wonderful development. We look forward to welcoming residents home soon.

“This new mixed-use development delivers on key commitments set out in Mayor Adams’ housing plan to grow and provide safe, affordable housing for more New Yorkers,” said NYCEDC President and CEO, Andrew Kimball. “We are proud to have worked with Mount Hope Housing Company to facilitate land sales to bring over 100 affordable housing and recreational opportunities to the Mount Hope neighborhood.”

“1761 Walton will bring more than 100 much-needed quality affordable housing to the Bronx and expand recreational facilities for residents of the Mount Hope neighborhood. And for the families who will soon be living in this home, they will benefit from a conveniently located apartment that provides easy access to valuable community resources and services,” said UNHCR Commissioner RuthAnne Visnauskas. “Congratulations to Procida Development, Mount Hope Housing Corporation and our government partners on this achievement that will improve the lives of so many New Yorkers.”

“On behalf of our Bronx-based third-generation family business, I would like to express our excitement, gratitude and optimism as we open 1761 Walton Avenue,” said Peter Procida, Director, Procida Companies. “At Procida, we specialize in realizing the potential of sites, even the most difficult to develop. It brings us great joy to have helped Mount Hope Housing realize its vision. We hope that over 100 households will move in when we are finished and that the new recreational space will serve as a safe and welcoming resource for the community.

“Today’s groundbreaking marks the realization of a 20-year dream in the making,” said Fritz Jean, CEO, Mount Hope Housing Corporation. “1761 Walton will help Mount Hope fulfill its mission of providing community development, affordable housing and youth services on this incredible campus. “Amazing things happen here” is our motto, and this new building will embody that ideal. We value the expertise, resilience and creativity of our partners at Procida companies. Finally, we express our gratitude to the government agencies and elected officials who helped fund this project and make this dream a reality.

“We need real affordable housing in the Bronx, and these 103 new units at 1761 Walton Avenue are a welcome addition to our neighborhood,” said New York State Senator Gustavo Rivera. “This new subdivision will provide working families with affordable housing and help New Yorkers struggling with homelessness achieve long-term stability with a place to call home. I am excited about the new recreation center and the partnership with the Mount Hope Community Center for providing community members with a safe space to engage in healthy activities.I commend the city and state for working together and investing in critical housing projects for the Bronx.

“Affordable housing is the lifeline that sustains and grows many local communities. This monumental investment in building affordable housing helps ensure that there are more opportunities for growth among the many residents who call this neighborhood home,” said Yudelka Tapia, Member of the New York State Assembly. “I am pleased to see that Mount Hope, an organization that has provided countless opportunities for many Bronx residents, is once again committing to that tradition by investing in Mount Hope Walton Apartments. I look forward to continuing our partnership to make the Bronx an affordable place to live.

“Through this $55 million affordable housing development in the Mount Hope section of the Bronx that includes 103 affordable one-, two-, and three-bedroom apartments, 16 of which are reserved for those affected by homelessness, Procida Development Group, LLC and Mount Hope Housing are answering the call from housing advocates across the city who correctly assert that housing is a human right,” said Bronx Borough President Vanessa Gibson. “The project also ensures neighborhood residents have the opportunity to apply for the facility which includes a recreation space, exercise room, basketball court and other amenities that further demonstrate their leadership as a role model. for other developers looking to build locally to follow. ”

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