Construction is wrapping up on Ogden Theatre Apartments, an affordable housing development at 1415 Ogden Avenue in Highbridge, The Bronx. Designed by Aufgang Architects and developed in a joint partnership between Unique People Services and NCV Capital Partners, along with with several governmental bodies including HUD, NYC’s Department of Housing Preservation and Development (HPD), and the Department of Mental Health and Hygiene (DOHMH), the $66 million project yields 85 units. The property is located by the corner of Ogden Avenue and West 171st Street and was once the site of a former movie theater, bowling alley, and church.
Work is finished on the red and black brick façade and the grid of recessed bird-friendly-windows, while the ground floor is waiting to be cleared of the metal fencing and plastic sidewalk barriers.
Fifty-one of the homes are designated as supportive housing for formerly homeless individuals, while the remaining 34 units will be reserved for those qualifying for Section 8 benefits at or below 60 percent of the area median income (AMI). 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 was built to meet Passive House and Enterprise Green Community Standards, and features 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.
The nearest subway from the ground-up development is the 4 train at the elevated 170th Street station to the southeast.
Ogden Theatre Apartments is expected to complete construction next spring, as noted on the info board.
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