New Construction / Affordable Housing / Joint Venture / Supportive Housing

Vincent’s Village is a new construction development for the creation of senior supportive housing in Nanuet, New York. The project will consist of 5 buildings totaling 93 units of affordable housing. Three of the buildings are residences while the other two offer community space for the residents. The project received funding through the Empire State Supportive Housing Initiative (ESSHI) to provide supportive and case management services for 45 apartments, as well as subsidy funding from NYS Housing Finance Agency. Rockabill was brought in to form the joint venture between the Sisters of Charity Housing Development Corporation and their development partner to develop the site. Rockabill brings expertise in affordable housing development, as well as providing construction guarantees to the deal. The project is expected to closed in March of 2019 and is anticipated to be completed by 2021.

News Link:

    • Creating 93 units of senior affordable and supportive housing for at-risk seniors 62 years and older on limited incomes.
    • Addressing the growing need for affordable housing with services for aging population – some of whom are at risk of being displaced or are homeless.
    • Ensuring that the client’s Joint Venture agreement protects their organization and asset.
    • Developer/Joint Venture Partner
    • Sisters of Charity Housing Development Corp.
    • NYS Homes and Community Renewal
    • JPMorgan Chase: Construction Lender
    • CREA: Tax Credit Syndicator
    • Project Architect: Coppola Associates
    • General Contractor: Affordable Housing Concepts LLC