Rockabill Arranges Funding to Reposition Affordable Bronx Portfolio
Rockabill has secured $12 million in New York City Housing Preservation & Development subsidy and $3 million in permanent financing from Community Preservation Corporation (CPC) to facilitate the repositioning of 13 affordable buildings in the Bronx’s Morrisania neighborhood, south of Crotona Park. The buildings are owned by Beulah HDFC.
The funding arranged by Rockabill will allow for boiler and roof replacement across the portfolio and parapet and exterior masonry work to improve the physical condition of the properties.
“It’s a privilege to assist Beulah in preserving these properties; and in doing so, continue its incredible history of service to the Bronx,” said Tim Collins, principal, Rockabill. “This is a great example of a nonprofit owner proactively shoring up its affordable housing portfolio and ensuring its assets are physically and financially fit. The residents of The Bronx deserve high-quality housing and we are proud to help deliver it.”
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. 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 15-20 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).