Governor Hochul Announces Grand Opening of $35 Million Supportive Housing Development for Families in the Bronx

 

Brand-New Development in Longwood Provides 62 Affordable Homes with On-Site Supportive Services for Families Experiencing Homelessness

 Governor Kathy Hochul today announced the grand opening of The Corden, a $34.5 million housing development for families in the Longwood section of the Bronx. The new development includes 62 affordable apartments with 37 apartments set aside for homeless families. Previously named The Bryant, the building has been dedicated to New Destiny Housing's former executive director, Carol Corden, who retired in 2020 after 24 years at the helm of New Destiny Housing and a lifetime of service creating affordable housing for New Yorkers in need. 

"My administration is committed to ending homelessness and creating more affordable housing, and by investing in developments like The Corden in the Bronx, families will have access to a permanent home with the amenities and assistance they need to thrive," Governor Hochul said. "These newly built new apartments will allow 62 families to experience the great benefits and stability that comes from having truly good quality homes, allowing them to live safely and securely."  

All households will have access to on-site services including financial counseling, professional development, case management, programming for children, and other services to promote housing security. The project's developer is New Destiny Housing, a New York City nonprofit providing housing to homeless families for nearly 30 years. 

Amenities at The Corden include a multi-purpose program space, library, staff offices for social services, a beautifully landscaped courtyard, and indoor and outdoor children's play areas. Tenants will have access to trauma-informed, on-site services from New Destiny's Family Support Program staff. 

Supportive services and rent are subsidized through the Empire State Supportive Housing Initiative and administered by the New York State Office of Temporary and Disability Assistance. 

State funding for the development includes federal Low-Income Housing Tax Credits that generated $13.8 million in equity and $1.3 million in subsidy from New York State Homes and Community Renewal and $5.7 million from the Office of Temporary and Disability Assistance through the Homeless Housing Assistance Corporation. The New York City Department of Housing Preservation and Development provided $7.9 million from the Supportive Housing Loan Program. 

Bank of America/Merrill Lynch provided the construction loan for $11.9 million and pre-development funding was provided by Deutsche Bank's DB Share program. Hudson Housing Capital was the tax credit syndicator, with HSBC as the investor. The building was designed by Magnusson Architecture and Planning, PC, built by D.P. Group General Contractors, and built on land jointly owned by the NYC Housing Authority and HPD.