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MOUNT HOPE PORTFOLIO OF PROPERTIES
The Mount Hope Housing Company Inc operates as a non-profit organization. The Organization offers youth services, employment, training, and asset-building programs. Mount Hope Housing serves communities in the State of New York.
Mount Hope Housing Company, Inc. is a South Bronx-based 501(c)(3) community development corporation with over 17 years of experience in developing, managing, and preserving affordable housing. They specialize in creating high-quality, sustainable residential units for low-income residents, often incorporating community spaces, youth services, and supportive housing for formerly homeless individuals
Mount Hope Preservation 1
Bronx, NY – 15 Buildings Multi-site (600 Units), $70 Million
This project used low-cost bond financing, 4% tax credit equity, and other subsidies, and the City’s ability to restructure rents within affordable housing limits will stabilize the portfolio and assure the City receives maximum benefits from its subsidies. Developed in partnership with Notias Construction Inc.
Completed January 2018
Mount Hope Preservation 2
Bronx, NY - 6 Building Multi-site (490 units), $40 Million
With new and subordinated existing debt, this project received financing through NYC’s Participation Loan Program, Article 11 tax abatement, rent restructuring within affordable housing norm, and such additional subsidy to justify an extended regulatory agreement with the city. Included structural overhaul, minor systems upgrades, etc. . Developed in partnership with Notias Construction Inc.
Completed, October 2017
