Camber Property Group (CPG) and Westhab today announced the topping out of 913 East Tremont Avenue, a 100 percent affordable rental development in the West Farms section of The Bronx. The building includes 119 housing units, with 60 percent of the apartments reserved for formerly homeless residents requiring supportive services and the balance for low income individuals and families. The development also includes 6,500 square feet of commercial space.
“This development is transforming an underutilized lot in the West Farms neighborhood into best-in-class affordable housing, and we are thrilled to reach this milestone as we prepare to welcome more than 100 families to their new homes,” said Rick Gropper, Principal at Camber Property Group. “Our city has a critical need for affordable housing, including supportive units for the formerly homeless, and we will continue our work to fill that need across the five boroughs.”
Construction of the $50 million project was funded through tax-exempt bond financing, Low Income Housing Tax Credit equity provided by Wells Fargo and public subsidies from the New York State Housing Finance Agency and New York State Homes and Community Renewal (HCR). The building was designed by Aufgang Architects and is being constructed by SD Builders.
“Westhab is thrilled about the topping off of 913 East Tremont, and very grateful for our partnership with Camber,” said Andrew Germansky, Senior Vice President of Real Estate at Westhab. “We look forward to opening the building in 2021, and, thanks to funding from New York's Empire State Supportive Housing Initiative (ESSHI), to providing residents with high-quality, affordable housing and supportive services."
“This $50 million investment in 913 East Tremont Avenue is the latest example of Governor Cuomo’s commitment to expanding affordable housing opportunities and reducing homelessness in the Bronx,” said HCR Commissioner RuthAnne Visnauskas. I am proud that this partnership with the Camber Property Group and Westhab will provide 119 energy-efficient affordable apartments, supportive services and commercial space to the West Farms community. I look forward to that great day when we can welcome future residents to their new homes.”
“913 East Tremont is another example of Camber Property Group’s long-term commitment to ensuring Bronxites have quality, affordable housing,” said New York City Council Member Rafael Salamanca. “With the official topping out of the building, the reality of 119 units of affordable housing, including a majority of units at the deepest affordability, is something the West Farms community is eagerly anticipating. I thank Camber and Westhab for their partnership on this project, and look forward to the building’s completion in the months ahead.”
“Keeping The Bronx affordable, and the development of new affordable housing units, has been a priority of mine from the day I first took office,” said Bronx Borough President Ruben Diaz Jr. “The topping out of 913 East Tremont Avenue is a tremendous step towards providing much needed affordable units, including supportive units for the formerly homeless and useful amenities for the residents. I want to thank Camber Property Group and Westhab for their investment in our borough, and I look forward to the completion of this project, which will provide new homes to many Bronx residents in need.”
913 East Tremont Avenue will feature a garden entrance alongside outdoor recreational space, a 1,300-square foot community room, as well as dedicated space for the provision of supportive services by Westhab, a leading community development nonprofit organization that provides a wide range of housing opportunities and social services.
Since its founding in 2016, Camber Property Group has made an impact developing innovative projects and preserving much-needed affordable housing in communities across New York City. In 2020 alone, the firm opened The Strand, a 132 unit mixed-use development located in the heart of Ridgewood, Queens; completed 136 affordable units for seniors at Victory Plaza in Central Harlem and another 161 units of mixed-income housing in The Bronx at the Tiffany Street Apartments. Camber is currently rehabbing more than 1,000 affordable units at two major Bronx developments, West Farms and Baychester through NYCHA’s Rental Assistance Demonstration program. The company also recently closed on a portfolio of 384 affordable housing units across eight buildings in Flatbush, Brooklyn.
More information on Camber Property Group can be found at www.camberpg.com.
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