The Doe Fund to Break Ground on Bronx Residence
A joint venture with Robert Sanborn Development brings 98 affordable and supportive multi-family apartments coming to the North Bronx.
New York, NY— On Wednesday, May 25 at 10am ET, The Doe Fund broke ground on its new multifamily development at 4519 White Plains Road — known as The Plains — in the Wakefield neighborhood of the Bronx. The $48.5 million, nine-story residence will provide 98 affordable homes, with supportive services for 49 formerly homeless adults living with HIV/AIDS and 20 apartments reserved for adults 62 and older.
The Groundbreaking Ceremony featured a diverse group of stakeholders critical to the project, from political leaders and civil servants — including New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas, City Council Member Eric Dinowitz, Congressman Jamaal Bowman, and Deputy Bronx Borough President Janet A. Peguero — to corporate partners such as Robert Sanborn Development and the Corporation for Supportive Housing.
Upon completion, The Plains will be available to low- and moderate-income individuals and families who meet the income eligibility thresholds of up to 80% of the NYC Average Median Income. Preference will be given to local residents who are homeless or at risk of becoming homeless. The Doe Fund will deliver housing and clinical case management services to residents, including mental health and medical care.
Residential amenities will include tenant storage, offices for program staff and a multi-purpose room for program and tenant uses alike, as well as 24/7 security and a live-in superintendent. The residence will also feature on-site laundry units, a fitness center and private outdoor recreation space. The Plains is near subway, bus and commuter rail stations.
The building will have a green roof and solar PV array. Additional energy-efficient features will include thermally-broken, triple-glazed, UPVC windows; hi-efficiency, electric, Variable-Rate-Flow HVAC systems; Energy-Star, bi-level, LED lighting with motion sensors; Energy-Star appliances; and low-flow plumbing fixtures. Upon completion, the project will seek LEED (Leadership in Energy and Environmental Design) Gold certification.
The 82,465 square foot building, designed by OCV Architects, is the second joint venture The Doe Fund has undertaken with Robert Sanborn Development.
Along with a 2019 Empire State Supportive Housing Initiative (ESSHI) award of Low Income Housing Tax Credits, financing for the project comes from public and private sources. HCR approved awards from the Supportive Housing Opportunity Program, the All Affordable New York City Program, and NYS HOME. The Doe Fund obtained private sector construction and permanent loans through Merchant’s Bank and Freddie Mac, and tax-credit equity was syndicated by Richman Housing.
In addition, the NYS Homeless Housing and Assistance Corporation awarded capital funding through the Homeless Housing Assistance Program. The Corporation for Supportive Housing also provided an acquisition loan that included funds for pre-development.
“New York is at a crossroads,” said John McDonald, Executive Vice President of Housing at The Doe Fund. “Our city’s recovery is held back by two things. First is the convergence of eroding public safety and filthy streets, both symptoms of rising homelessness that The Doe Fund’s Ready, Willing & Able program is proven and prepared to address. Second is the city’s lack of affordable and supportive housing.”
He continued, “I’m proud to have overseen the growth of The Doe Fund’s transitional, affordable, and supportive housing portfolio to over one million square feet. When completed, The Plains will join this essential continuum of care, providing high quality homes to nearly 100 individuals and families in desperate need.”
“The Doe Fund has been a pillar of supportive housing in New York City for over 30 years, and we are honored to have been part of the recent The Plains transaction in the Bronx, said Michael Milazzo, Senior Vice President, Originations at Merchants Capital. “As one of the nation’s top affordable housing financiers, we at Merchants are always looking for new ways to serve the housing needs of populations across the U.S. By working with The Doe Fund, we are creating safe, new and supportive housing for nearly 100 of New York’s most vulnerable residents. The Plains will provide a beacon of hope and necessary services to individuals in need. We are grateful for this partnership and are eager to bolster our housing efforts together throughout New York.”
“Robert Sanborn Development is excited to be a partner in the development of The Plains, our second collaboration with The Doe Fund,” said Robert Sanborn. “The Plains represents our continued commitment to developing thoughtfully designed, state-of-the-art homes with integrated services; a comfortable environment with available services that will enhance the lives of all residents. We congratulate The Doe Fund on this latest supportive housing endeavor.”
