A funding round was recently raised for the renovation of three East Bronx housing developments: Boston Road Plaza, Boston Secor, and Middletown Plaza. The project spans six residential buildings, which house 952 affordable housing units in total, and is part of New York City Housing Authority’s Permanent Affordability Commitment Together program. Renovations are being led by Bronx Revitalization Collaborative, working alongside Beacon Communities, Kalel Companies, and MBD Community Housing Corp.
Work will include interior and exterior improvements, with apartment units receiving updated bathrooms and kitchens, new flooring, doors, and fresh paint. Buildings will be modernized with new roofs, upgraded elevators, and electrical, heating, cooling, plumbing, and ventilation system overhauls. In addition, residents will benefit from free Wi-Fi, improved shared spaces, and enhanced property management.
Beyond interior work, outdoor areas for the properties will be revitalized with new landscaping, seating, bike racks, walking paths, and playgrounds. Work is currently underway and is expected to be completed by 2026.
As a result of the project, the buildings will transition to the U.S. Department of Housing and Urban Development Section 8 program. Merchants Capital provided $129.1 million in financing for the $419.6 million renovation, structured as a New York Housing Development Corporation Freddie Mac Risk Share Loan.
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