St. Augustine Terrace
Bronx, New York
- Rockabill’s Role: Development Consultant
- Client: Catholic Homes New York
- Agencies: NYS HFA, NYC HPD, NYS OMH
- Team: MAP Architecture, Mega Construction, JP Morgan Chase, Richman Housing, Nixon Peabody, Beacon of Hope, FHLB NY
St. Augustine Terrace, located on the site of the former St. Augustine church in the Morrisania section of the Bronx, provides 112 new units of affordable housing for families and persons with special needs.
The LEED Gold 12-story property features state-of-the-art environmentally sustainable building systems, 24-hour security, on-site social services, and a new food pantry to replace the existing community pantry.
The project provides 35 OMH studio units, 19 One Bedroom, 37 Two Bedroom, and 21 Three Bedroom units which are eligible to individuals who earn less than 60% Area Median Income.
Financing included NYS OMH operating and services subsidy for 35 studios, $12.3M in tax-exempt bonds, $7.3M in HPD subsidy, $6.5M in HFA subsidy, FHLB NY Grant $650K , and tax credit equity of $21.5M.