La Central Affordable Housing Development Secures $343 Million In Financing In Melrose, The Bronx

 

Hudson Companies and BRP Companies have secured $343 million in financing for Phase II of La Central, an affordable housing project in Melrose, The Bronx. Developed by ELH-TKC LLC, Breaking Ground, and Comunilife, this phase comprises two new buildings, Building C and Building E. Combined, the structures will yield 420 apartments, with 63 designated as supportive housing units for formerly homeless individuals and families. 

Rendering of La Central. Courtesy of Hudson Companies

Building C, which will feature 166 apartments, is designed to Passive House standards and will operate entirely on electricity. Building E, with 254 units, is targeting LEED Gold certification and includes rooftop access to a telescope managed by Bronx High School of Science. Both buildings will offer apartments affordable to households earning 30 to 80 percent of area median income. Additional features include 13,000 square feet of community facility space, 7,000 square feet of public gardens, and over 1,500 square feet of retail space.

Phase II will round out the five-building La Central development, which will provide over 1,000 affordable apartments in total. Earlier phases, completed between 2019 and 2021, delivered mixed-use and supportive housing components including a YMCA and 160 supportive housing units.

“We are pleased to embark on the final phase of the La Central development, and in doing so, fulfill our promise to the South Bronx community,” said Jerome Kretchmer and Larry Hirschfield, principals of ELH-TKC, LLC. “This moment has been over a decade in the making. By delivering environmentally and socially responsible housing for extremely low- and low-income New Yorkers complete with world-class amenities and social services, Phase II of La Central will play a critical role in combatting the city’s ongoing housing crisis and ensuring our neighborhoods remain open to people of all income levels.”