Doe Fund To Break Ground On Affordable Housing Project At 4519 White Plains Road In Wakefield, The Bronx
Construction is set to break ground this week at 4519 White Plains Road, a new affordable and supportive housing development in the Wakefield section of The Bronx. As the latest project from The Doe Fund and Robert Sanborn Development, the building will provide 98 affordable homes, 20 apartments reserved for tenants 62 and older, and on-site supportive services for 49 formerly homeless individuals.
Construction is scheduled to begin Wednesday, May 25. The building will debut as The Plains.
“I’m proud to have overseen the growth of The Doe Fund’s transitional, affordable, and supportive housing portfolio to over 1 million square feet,” said John McDonald, executive vice president of housing at The Doe Fund. “When completed, the Plains will join this essential continuum of care, providing high quality homes to 98 of our fellow New Yorkers most in need, as well as their families.”
Designed by OCV Architects, the building will comprise 82,465 square feet. Upon completion, available homes will be available to low and moderate-income individuals and households who meet the income eligibility thresholds ranging from 30 to 80 percent of the area median income (AMI). Preference will be given to local residents who are homeless or at risk of becoming homeless.
Amenity spaces will include tenant storage, a flexible lounge and multipurpose space, on-site laundry facilities, a fitness center, and outdoor recreation space. The Doe Fund will deliver housing and clinical case management services to residents, including mental health and medical care.
To improve energy efficiency, the property will feature a green roof and solar array, high-efficiency electrical and HVAC systems, LED lighting throughout, ENERGY STAR-certified appliances in each residence, and triple-glazed windows with thermal breaks that reduce the amount of energy needed to maintain a preferable internal temperature.
Total development costs are estimated at $48.5 million.
“The Doe Fund has been a pillar of supportive housing in New York City for over 30 years, and we are honored to have been part of the recent The Plains transaction in the Bronx,” said Michael Milazzo, senior vice president, originations at Merchants Capital. “As one of the nation’s top affordable housing financiers, we at Merchants are always looking for new ways to serve the housing needs of populations across the U.S. By working with The Doe Fund, we are creating safe, new, and supportive housing for nearly 100 of New York’s most vulnerable residents.”
Funding for the project includes a mix of public programs and private sources. Along with a 2019 Empire State Supportive Housing Initiative (ESSHI) award and federal Low Income Housing Tax Credits, New York State Housing and Community Renewal-approved awards from the Supportive Housing Opportunity Program, the All Affordable New York City Program, and the NYS HOME program. The Doe Fund also obtained private-sector construction and permanent loans through Merchants Capital and Freddie Mac, and tax-credit equity was syndicated by Richman Housing.
In addition, the New York State Homeless Housing and Assistance Corporation awarded capital funding through the Homeless Housing Assistance Program. The Corporation for Supportive Housing also provided an acquisition loan that included funds for acquisition and pre-development.