Construction has broken ground on the Ogden Theatre Apartments, a new affordable housing development at 1415 Ogden Avenue in Highbridge, The Bronx. Designed by Aufgang Architects, the $66 million project will transform the site of a former movie theater, bowling alley, and church into a residential complex yielding 85 units. Development is being spearheaded by a coalition led by Unique People Services and NCV Capital Partners, in collaboration with several governmental bodies, including HUD, NYC’s Department of Housing Preservation and Development (HPD), and the Department of Mental Health and Hygiene (DOHMH).
Of the Ogden Theatre Apartments’ 85 units, 51 will be supportive housing for formerly homeless individuals and 34 will be reserved for those qualifying for Section 8 benefits or earning at or below 60 percent of the area median income. The property will also feature approximately 2,000 square feet of ground-floor space dedicated to social services such as case management and employment assistance.
Amenities will include indoor and outdoor recreational spaces, a laundry room, and bicycle parking. The property will meet Passive House and Enterprise Green Community Standards, and feature a rooftop solar array to supplement power drawn from the local grid.
Funding for the Ogden Theatre Apartments includes Low Income Housing Tax Credits, HPD’s Supportive Housing Loan Program, and contributions from private equity partners like Chase Bank and M&T Bank, with syndication managed by Red Stone Equity Partners.
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