$27 Million Project on Hoe Avenue is Helping to Transform Neighborhood with High Quality, Affordable Apartments
BRONX, N.Y. (October 16, 2015) – Borough and City officials joined with MacQuesten Development, LLC and the Union Grove Community Economic Development Corporation (UGCEDC) today to celebrate the Grand Opening of Mother Arnetta Crawford Housing, a new apartment complex that is helping to transform the neighborhood by providing residents with high-quality, affordable rental housing.
Located at 1500 Hoe Avenue, Mother Arnetta Crawford Housing is a seven-story, 78,000-square-foot building with 84 one- and two-bedroom affordable apartments. Amenities include two indoor recreation rooms, one on the seventh floor offering views of the Manhattan skyline; a secure outdoor play area; and a secure ground-floor parking area. The attractively designed building features LEED Silver Level design and construction, minimizing its impact on the environment.
To celebrate the grand opening event, Rella Fogliano, President of MacQuesten Development, hosted a ribbon-cutting ceremony attended by representatives of UGCEDC; Bronx Borough President Ruben Diaz, Jr.; Susan Kensky, Assistant Commissioner of the New York City Department of Housing Preservation & Development; Gary Rodney, President of the New York City Housing Development Corporation; Geneve Davis and Burton Leon from New York City Housing Authority; and representatives from Bronx Community Board 3.
“We are very proud to celebrate the grand opening today of this beautiful new building which is providing residents with attractively designed affordable apartments. The focus of all our projects is to provide well-designed, sustainable multi-family and affordable housing for the communities where they are needed most. And that’s exactly what we have achieved with this new project. Finally, I would like to thank Union Grove Community Economic Development Corporation and the city officials joining us today who helped make this project a reality,” said Ms. Fogliano.
“The fundamental reason we work to create affordable housing is to provide opportunity for those in need. This development made possible new opportunities through stable, quality homes for 84 low-income families and individuals. Affordable housing also anchors communities, and so it is only fitting that this development and the one that preceded it are named after individuals who have long anchored this neighborhood and this community,” said HPD Commissioner Vicki Been. “I would like to thank MacQuesten Development and Union Baptist Church, and our colleagues at NYCHA and HDC for partnering with us to create this important project. It is because of your commitment and dedication that these families are able to call this beautiful new development home.”
“HDC is committed to working with partners, like MacQuesten Development and Union Grove Baptist Church to create safe, quality affordable homes that add value to neighborhoods, and make a profound impact on people’s lives,” said Gary Rodney, President of HDC. “Mother Arnetta Crawford exemplifies what can be accomplished through public-private partnership to foster strong, sustainable communities. I would like to thank our elected officials and all our partners for their commitment to this project and our mission of providing quality, affordable housing for all New Yorkers.”
“Supporting the development of safe, affordable housing in underserved communities like Crotona Park is vitally important to Bank of America Merrill Lynch,” said Todd Gomez, Northeast Regional Executive, Bank of America Merrill Lynch. “MacQuesten’s experience with and passion for community development made this an ideal project to finance. In addition to $13MM of debt financing, the Bank also provided over $10MM of Low Income Housing Tax Credit equity.”
Also attending the event was Gloria Velez, a resident of the new apartment complex who was the winner of a unique lottery held in August for prospective tenants by MacQuesten Development. Velez was selected among prospective tenants to move into a fully furnished and decorated two-bedroom apartment at the complex.
Based in Pelham, NY, MacQuesten Development specializes in financing, designing and construction management of multi-family, affordable housing and commercial properties, which are then privately held by affiliated companies. The company has developed 11 buildings and 1,500 units of affordable housing in New York City and Westchester County since 1992. MacQuesten has current development projects in excess of $200 million throughout the five boroughs and Westchester County. The company’s other affordable housing developments in the Bronx include Palmer Court Homes, Claremont Park Apartments, Rev. Dr. Fletcher C. Crawford Housing, Webster Place Apartments and Hughes Avenue Crescent.