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New York & Tri-State  + Uptown/Bronx  + Finance  | 

Mixed-Income Project Opens in University Heights

City and state officials announced the opening of the Morris Avenue Apartments, a new 11-story, 94-unit mixed-income affordable housing development with supportive services in the University Heights neighborhood of the Bronx. The $47-million project at 2264 Morris Ave. was co-developed by Services for the UnderServed and Bronx Pro Group.

Financing for the project came from a variety of city, state and federal sources, including federal Low Income Housing Tax Credits that generated $15.9 million in equity. The Corporation for Supportive Housing provided the pre-development funds for the project, and Chase provided the letter of credit.

“Providing an affordable and supportive place to live is vital to building sustainable communities, and 2264 Morris Ave. will have a positive impact in the Bronx,” said Jane E. Silverman, executive director of community development banking at Chase. “We’re honored to work with key industry players and continue our support in the local community.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Development
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