Camber Property Group (CPG) and Westhab recently topped out at 913 E. Tremont Ave., a 100% affordable rental development in the West Farms section of The Bronx. The building includes 119 housing units, with 60% of the apartments reserved for formerly homeless residents requiring supportive services, and also includes 6,500 square feet of commercial space.
“Our city has a critical need for affordable housing, including supportive units for the formerly homeless, and we will continue our work to fill that need across the five boroughs,” said Rick Gropper, principal at CPG.
Construction of the $50-million project was funded through tax-exempt bond financing, Low Income Housing Tax Credit equity provided by Wells Fargo and public subsidies from the New York State Housing Finance Agency and New York State Homes and Community Renewal. The building was designed by Aufgang Architects and is being constructed by SD Builders.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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